Deputy Prime Minister (DPM) and Finance Minister Tharman Shanmugaratnam spoke at the three-day National Trades Union Congress' (NTUC) Ordinary Delegates Conference yesterday.

The conference is a biennial meeting of union leaders, who will spend the next two days outlining the goals of the NTUC for the next two years.

Here are 5 key points of his speech:

1. Global challenge of Jobs and Incomes: All countries want jobs and better incomes for the citizens. However, very few economies in this new global era have been able to deliver  both low unemployment, with jobs available for those who need them, as well as improvement in incomes and in the quality of life for the average citizen.

2. A harmonious relationship between business-labour-government: Singapore is one of the few countries who can achieve both aims of low employment and improvement in income. One of the things Singapore been doing right is to keep a harmonious relationship between businesses, labour and the Government.

3. Three strategies for Singapore in future: 1) Building a thriving and competitive economy, 2) Achieving quality growth based on productivity improvements, and 3) Ensuring Singapore remains an inclusive society through its social policies.

4. Three industries in need of revamp: The Singapore government will help to revamp three industries - logistics, construction and retail - so as to make breakthroughs in productivity and grow.

5. Helping the low-wage workers: DPM Tharman elaborated on how the Singapore government was currently helping the three key groups in our society: low-wage workers, older workers and middle-income workers.  DPM Tharman also pledged to boost the pay of cleaners and security guards.

Full Speech on Ministry of Finance website 

Speech by DPM Tharman Shanmugaratnam at NTUC Ordinary Delegates' Conference

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