My father used to write a column in Forbes magazine. This Forbes piece assessing his legacy sees the Singapore approach as an alternative to the welfare state that has worked.
We rely on free market competition, yet every citizen is assured of good education, healthcare, housing, and retirement. We all have to work hard and save for ourselves and our families, but nobody is left to fend for ourselves alone.
The Government creates conditions for a vibrant economy and good jobs. It builds effective, affordable social safety nets. But it avoids mortgaging our future, and burdening our children’s generation with debts.
We are strengthening our social safety nets, with MediShield Life, Silver Support, etc. But let’s not forget we are not scrapping a bad system, but improving a good one. - LHL
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