Singapore must get politics right for economy to do well: PM Lee

SINGAPORE - Prime Minister Lee Hsien Loong has said there are things Singapore can do well which will make a difference to its people, but that will not make for a society that is absolutely equal.

Mr Lee said this at the DBS Asia Leadership Dialogue in response to a question about balancing growth and equity in Singapore.

He also said investment in overall infrastructure ensures a good business environment where things work, and policies to give less successful Singaporeans a leg-up are important too.

He added that Singapore must get its politics right in order for its economy to do well.

Mr Lee said: “I don’t think if you give up growth you will have a lot of equity. I mean if the economy was stagnant, it doesn’t mean everybody’s going to be happy, and it may be equally unequal.

“Part of the answer has to be skills and education - that we invest in our people and give them the ability to improve their standards of living. I cannot make everybody a billionaire, but I can make sure everybody can earn a good living for himself. I think that’s possible. But it takes effort and you have to be competitive.” CHANNEL NEWSASIA