DETAILS of an upcoming re-employment support scheme will be released when the Forward Singapore (Forward SG) initiative wraps up, Prime Minister Lee Hsien Loong said on Sunday (Aug 20) in his National Day Rally speech.

Speaking in Malay, he noted that despite global economic uncertainty, there are many opportunities available in emerging areas. These include the digital sector, which more Malay-Muslim professionals have been entering.

But the flip side of such opportunities is anxiety about staying updated and facing job disruptions, said PM Lee. “More of our workers will be affected by such disruptions and may lose their jobs several times throughout their careers.”

Retraining is the answer, but financial pressures may make it hard for people to attend courses as they will instead take up the first available job. That is why the upcoming scheme will “offer temporary financial support for workers who are retrenched” while they upgrade their skills, he added.

The aim is to ease the immediate pressure faced by jobseekers, so they can upskill for a better long-term job.

“We are in the midst of fine-tuning the details of the scheme,” PM Lee said, adding that the fourth generation political leaders “will share more when they wrap up the Forward SG initiative”.

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Ministers have spoken about the upcoming scheme since late 2022, following the labour movement’s calls for unemployment income support. In January, Deputy Prime Minister and Finance Minister Lawrence Wong suggested that training could be a requirement, framing it as “re-employment support” rather than “unemployment support”.

In the Chinese portion of his National Day Rally, PM Lee turned to concerns over the cost of living, laying out the calendar of upcoming government subsidies.

The impact of this year’s goods and services tax (GST) hike was alleviated through the Assurance Package, which was topped up in Budget 2023. From Jan 1, 2024, the GST rate will rise again to 9 per cent.

Said PM Lee: “We will continue with the Assurance Package, as planned. I am confident it will be effective in buffering the impact of the adjustment to 9 per cent.”

But noting questions about whether the Assurance Package could be further enhanced, he added: “You asked me, so I asked Finance Minister Lawrence Wong. He said he will study it carefully. Let’s wait – and of course, we hope for good news.”

PM Lee acknowledged the worries of one particular group – younger seniors in their 50s and early 60s. Some people in the sandwiched generation may have to provide for both ageing parents as well as children, and “they worry if they have sufficient savings for retirement”.

The government will help to alleviate their financial burden and provide “targeted assistance” so these seniors “can be less anxious about (their) retirement”, said PM Lee, adding that he would elaborate in his English speech.

Separately, he urged seniors to take a preventative approach to health and enrol in the national Healthier SG initiative, adding that he and his wife have already done so.

He acknowledged that some seniors may be reluctant to visit the doctor regularly, but hoped that they could change their minds, adding: “The government will provide various subsidies to reduce your medical bills.”

Finally, PM Lee tackled recent political incidents, saying: “Recent events involving political figures have made some Singaporeans uneasy. They wonder if there is something wrong with our system.”

While he did not name specifics, recent months have seen the resignation of former speaker of Parliament Tan Chuan-Jin and MP Cheng Li Hui over an inappropriate relationship, as well as an ongoing Corrupt Practices Investigation Bureau graft probe involving Transport Minister S Iswaran.

“No system is perfect,” said PM Lee. “Whether these events would be a blow to Singapore depends on how we respond. I and my team will definitely do our utmost to maintain Singapore’s clean and effective political system and our reputation for incorruptibility.”

Noting that founding Prime Minister Lee Kuan Yew dealt with similar situations decisively, he added: “I have dealt with these matters in the same way. I believe my successor will do so too.”