Pritam Singh advocates for broader support for workers’ retraining through interest-free loans and greater transparency in policy discussions
Workers’ Party (WP) chief Pritam Singh on Monday (Feb 26) renewed the party’s call for an interest-free SkillsFuture education loan to supplement the S$4,000 SkillsFuture Credit top-up announced in the 2024 Budget. Singh highlighted that while the top-up is a significant policy initiative, it may not be sufficient to cover the costs of many eligible courses, especially given that some of them exceed the top-up amount.
The S$4,000 top-up is available to Singaporeans aged 40 and above for courses that have better employability outcomes, such as diplomas, post-diplomas, undergraduate programs, and courses in the Progressive Wage Model sectors. However, Singh stressed that many workers may still face financial insecurity in accessing these training opportunities.
Singh proposed an interest-free education loan as a part of WP’s 2020 General Election manifesto. These loans could be targeted at courses in high-growth industries or areas facing manpower shortages, he suggested. This proposal, he argued, would better equip workers to meet the evolving demands of the job market.
In addition to skills training, Singh also raised other concerns in response to Budget 2024. He called for more transparency from the government on how funds, such as the S$5 billion set aside for Forward Singapore policies, will be used. This transparency, he argued, would enable Singaporeans to participate more meaningfully in policy discussions.
Singh also discussed issues of retirement adequacy, suggesting a review of CPF policies, particularly in relation to rising housing costs. He emphasized the importance of employers supporting workers and ensuring that they benefit from economic growth and government support. Moreover, Singh proposed legislating retrenchment benefits or introducing redundancy insurance to protect blue-collar workers.
Lastly, Singh addressed immigration and integration, stressing the need for better unity among Singaporeans. He emphasized that immigration, being a permanent feature of Singapore society, must be managed to ensure social cohesion.
While Singh expressed support for Budget 2024, he urged the People’s Action Party (PAP) to be open to diverse perspectives and inclusive discussions in shaping the country’s future.
