Closures, layoffs likely to rise, but nation will pull through: PM Lee

Singapore

BUSINESS closures, retrenchments and unemployment are all likely to rise in the coming months, said Prime Minister Lee Hsien Loong on Sunday morning, but he remained confident the country will get through the current crisis.

In his National Day message, Mr Lee outlined the government's current plans to help people find jobs and acquire new skills, adding that it might take longer than in the past for Singapore to get through this crisis.

He told Singaporeans that the labour movement has been working with employers to create job-training programmes and career pathways. It will also ensure that every worker is treated fairly and with dignity, especially when job losses cannot be avoided.

"Employers too must make every effort to keep their workers, and not drop them at the first sign of trouble. This will build loyalty, and encourage the employees to help their employers rebuild when conditions improve."

In addition, the Jobs Support Scheme (JSS) and Self-employed person Income Relief Scheme (SIRS) can help ease the burden on employers and individuals, he added.

Mr Lee also stressed the importance of unity and resilience as a country, considering that the crisis is "far from over".

It will most likely take a year or two before a vaccine is widely available, and the threat of the virus is blunted, Mr Lee said. "Until then, we have to maintain our vigilance and resolve, to keep ourselves, our loved ones and our neighbours all safe."

The shared ordeal will toughen a whole population, he added, and bond us together as one united people - similar to how the Pioneer and Merdeka Generations were tempered by separation and independence, plus economic crises in Singapore's early years as a nation.

"This National Day, as we celebrate across the island, we will be saying the pledge and singing Majulah Singapura in unison - not aloud as usual because of Covid-19, but in our hearts, with more feeling than ever... Let us show the world that whatever the challenges, Singaporeans will stay united, and prevail once more."

The prime minister also unveiled plans for the Float @ Marina Bay, which will soon be a permanent space to commemorate National Service, and the central focus of the new Marina Bay downtown.

Named NS Square, the development will be aligned on a central axis, with The Promontory on the opposite side of the bay.

The design consultancy tender for this project was awarded to a team led by WOHA Architects, with works scheduled to start in March 2022.

"We will build a gallery there to showcase our National Service story, and honour the contributions of national servicemen past and present. NS Square will also be a community space for everyone, young and old, to enjoy," said Mr Lee, adding that Singapore will continue to hold its National Day Parades there.

The Ministry of National Development (MND) and Ministry of Defence (Mindef) said a new permanent stage deck will replace the existing floating platform, with a new grandstand of around 30,000 seats.

The space can also be configured for different events, or used as a multi-purpose space for community activities, said the ministries in a factsheet on Sunday.

F&B and retail options are also being considered for a new waterfront promenade, which will form part of the continuous loop around Marina Bay.

A water sports facility to support activities such as dragon boating, canoeing and kayaking will also be built, and the development will house a swimming pool and water play areas, the ministries added.