30 Apr '12, 10am

Raise wages through productivity: PM Lee

Raise wages through productivity: PM Lee

Amid calls for employers to raise wages to help lower-income workers, PM Lee on Monday warned of the potential consequences of doing this indefinitely through squeezing the supply of foreign workers. -- ST PHOTO: ALBERT SIM By Leslie Koh Amid calls for employers to raise wages to help lower-income workers, Prime Minister Lee Hsien Loong on Monday warned of the potential consequences of doing this indefinitely through squeezing the supply of foreign workers. Business costs will go up, affecting Singapore's competitiveness, and could also cause inflation, he said in his May Day Message. It was 'dangerous', he said, to assume that tightening the supply of foreign workers alone can push wages up. Instead, he urged workers and employers to work together to raise productivity, noting that this was a more sustainable way to raise wages as well as real living standards. Related Li...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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