PM Lawrence Wong's Press Conference with Local Media (Nov 2024)
Opening remarks by Prime Minister and Minister for Finance Lawrence Wong at the press conference with local media on 8 November 2024.
Good afternoon. It is very good to have the chance to speak to all of you again.
My last press conference was after the National Day Rally. I spoke about some of the key policy initiatives and shifts that I had announced. Since then, the tempo of my international engagements and visits have increased. I attended the ASEAN summits in Laos, Commonwealth Heads of Government meeting in Samoa. I have been embarking on my series of introductory visits to ASEAN capitals, I visited Brunei and Malaysia earlier, more recently to Indonesia, and I hope to visit Thailand later this year, and then the other capitals next year. Later this month, I'll be traveling to Peru for APEC and Brazil for the G20 Summit, and then I will end the year with a visit to Malaysia for our annual Leaders’ Retreat.
So, it is a full schedule of travel. Someone in fact recently asked me, why am I traveling so much? But these are all essential work trips. Foreign Policy and international diplomacy are a key part of my duties as Prime Minister, and what I do here is also crucial in advancing Singapore's core interest, especially at a time when the world is in flux. In fact, it is going to be a far, far more dangerous world. We already are experiencing two hot wars in Europe and the Middle East. The US-China relationship is in a more challenging place, and there are lots of moving pieces geopolitically where things can easily go wrong.
It reflects the state of the world, one where established norms are fading, and where multilateral institutions are weakening. And that is why we see growing zones of impunity, where state and non-state actors are able to push for what they want with little or no consequences. All in all, it means a less hospitable environment, especially for small countries like Singapore and that is why we have to work even harder to strengthen our network of friends and partners and to work with like-minded countries to shape international norms and rules and to find common ground on issues of shared concern.
These are not necessarily top of mind issues for Singaporeans, but foreign policy is critical to our ability to survive and to thrive. It is about how we can stay relevant and expand our networks and ensure that our little red dot can keep shining, even in a more dangerous and turbulent world. In the end, everything we do, whether it is domestic or foreign, comes back to how we can make life better for Singaporeans, and that remains the focus for me and my team.
I know that cost of living remains a key concern for many. We have had measures announced in this year's budget that are still being rolled out and hopefully will provide some relief. But meanwhile, we have also started preparations for Budget 2025. The pre-Budget consultations will start in December, and we are focusing on several broad themes.
One, our economic strategies for the next bound, because a strong economy remains critical in improving living standards for all Singaporeans. Two, about opportunities, skills upgrading and jobs for workers, which remains a concern. Not just jobs, but better incomes for everyone. And then thirdly, how we can provide support for Singaporeans across different life stages, as they enter the workforce, as they start up families. And then for those who are older, especially for those who feel sandwiched between looking after elderly parents and their children. And finally, what we can do to strengthen our sense of solidarity and unity, especially as we mark SG60 next year.
So, these are some of the broad preliminary ideas or themes we have identified for the Budget. But we welcome your feedback, suggestions and views, and we will do this through our usual pre-Budget consultations. I am committed to engage and to listen to review, change and reset policies where needed, so that together we can take Singapore forward toward a fairer, brighter, and more inclusive future.
Happy to take your questions.
My last press conference was after the National Day Rally. I spoke about some of the key policy initiatives and shifts that I had announced. Since then, the tempo of my international engagements and visits have increased. I attended the ASEAN summits in Laos, Commonwealth Heads of Government meeting in Samoa. I have been embarking on my series of introductory visits to ASEAN capitals, I visited Brunei and Malaysia earlier, more recently to Indonesia, and I hope to visit Thailand later this year, and then the other capitals next year. Later this month, I'll be traveling to Peru for APEC and Brazil for the G20 Summit, and then I will end the year with a visit to Malaysia for our annual Leaders’ Retreat.
So, it is a full schedule of travel. Someone in fact recently asked me, why am I traveling so much? But these are all essential work trips. Foreign Policy and international diplomacy are a key part of my duties as Prime Minister, and what I do here is also crucial in advancing Singapore's core interest, especially at a time when the world is in flux. In fact, it is going to be a far, far more dangerous world. We already are experiencing two hot wars in Europe and the Middle East. The US-China relationship is in a more challenging place, and there are lots of moving pieces geopolitically where things can easily go wrong.
It reflects the state of the world, one where established norms are fading, and where multilateral institutions are weakening. And that is why we see growing zones of impunity, where state and non-state actors are able to push for what they want with little or no consequences. All in all, it means a less hospitable environment, especially for small countries like Singapore and that is why we have to work even harder to strengthen our network of friends and partners and to work with like-minded countries to shape international norms and rules and to find common ground on issues of shared concern.
These are not necessarily top of mind issues for Singaporeans, but foreign policy is critical to our ability to survive and to thrive. It is about how we can stay relevant and expand our networks and ensure that our little red dot can keep shining, even in a more dangerous and turbulent world. In the end, everything we do, whether it is domestic or foreign, comes back to how we can make life better for Singaporeans, and that remains the focus for me and my team.
I know that cost of living remains a key concern for many. We have had measures announced in this year's budget that are still being rolled out and hopefully will provide some relief. But meanwhile, we have also started preparations for Budget 2025. The pre-Budget consultations will start in December, and we are focusing on several broad themes.
One, our economic strategies for the next bound, because a strong economy remains critical in improving living standards for all Singaporeans. Two, about opportunities, skills upgrading and jobs for workers, which remains a concern. Not just jobs, but better incomes for everyone. And then thirdly, how we can provide support for Singaporeans across different life stages, as they enter the workforce, as they start up families. And then for those who are older, especially for those who feel sandwiched between looking after elderly parents and their children. And finally, what we can do to strengthen our sense of solidarity and unity, especially as we mark SG60 next year.
So, these are some of the broad preliminary ideas or themes we have identified for the Budget. But we welcome your feedback, suggestions and views, and we will do this through our usual pre-Budget consultations. I am committed to engage and to listen to review, change and reset policies where needed, so that together we can take Singapore forward toward a fairer, brighter, and more inclusive future.
Happy to take your questions.
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