Singapore PM warns of aging population's impact on economy and defence: ET SPECIAL:Love visual aspect of news?...

Singapore PM warns of aging population's impact on economy and defence: ET SPECIAL:Love visual aspect of news?...

SINGAPORE: Singapore's population is ageing faster than nearly any other society in the world, Prime Minister Lee Hsien Loong said Tuesday, warning this could have a serious impact on the economy and defence. Lee, 63, said he was worried that the city-state's population was expanding at its slowest pace in a decade despite the government's incentives to encourage citizens to produce more babies. "Who is going to pay the taxes to spend on whom?" he asked in a speech at a forum organised by the Singapore Management University. "Our defence, who is going to man the SAF (Singapore Armed Forces), who will defend us? We can't be 'Dad's Army'." Lee in his speech flagged the demographic shift as one of the country's major challenges in years to come. Other affluent Asian societies such as Japan, South Korea and Hong Kong face similar ageing problems. Singapore's population expande...

Full article: http://economictimes.indiatimes.com/news/international/wo...

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