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Equitable distribution of wealth key for sustainable growth: Swee Keat
A KEY factor in sustainable economic development is the equitable distribution of wealth, said Singapore Finance Minister Heng Swee Keat on Thursday.
This includes not just equity between different groups of society, but equity across generations as well.
"Policies must be prudent and not impose undue burdens on future generations. This is sometimes not discussed enough because the effects take decades to unfold," said Mr Heng, who was speaking as the Guest of Honour at a conference on South Asia, organised by the Institute of South Asian Studies.
He added that two other factors are important in ensuring that growth is sustainable: market-oriented and pro-trade policies, and the investment in resources that are timeless in value, including land and people.
Still, he emphasised that there is no "one-size-fits-all" approach in implementing such principles.
"There are complex trade-offs to be made in any society. . . There isn't one view of the world, even though one may have the same principles," stressed Mr Heng