In his inaugural National Day message on August 8, 2024, Prime Minister Lawrence Wong reflected on Singapore's journey and the exciting opportunities
In his inaugural National Day message on August 8, 2024, Prime Minister Lawrence Wong reflected on Singapore’s journey and the exciting opportunities that lie ahead. “We may be a young nation, but we have overcome much together, so we have good reasons to be confident about our future,” he stated, emphasizing the collective spirit of Singaporeans.
Wong, who became the fourth Prime Minister of Singapore on May 15, addressed the nation from Sri Temasek on the Istana grounds, noting the historical significance of the location. He recounted how Lee Kuan Yew, the nation’s founding father, spent the night of August 8, 1965, grappling with the challenges of building a nation from the ground up. “With grit and determination, they overcame enormous odds and laid the foundations upon which we stand today,” he said.
Global Challenges Ahead
Wong acknowledged the global challenges that Singapore faces, highlighting the “powerful forces that shape our operating environment.” He expressed concern over ongoing conflicts in Europe and the Middle East, as well as rising tensions between the US and China. “Granted, we are no longer building a nation from scratch, but neither can we afford to cruise along and just rely on existing formulas,” he warned.
Wong called for agility and foresight in navigating these challenges, emphasizing the need for fresh solutions to move Singapore forward.
Addressing Cost of Living and Housing Affordability
Cost of living was a central theme in Wong’s address. He recognized it as a “major concern” for Singaporeans and explained that while global prices are beyond control, the government has worked to shield citizens from inflation by maintaining a strong Singapore Dollar. He reassured Singaporeans that wages are expected to rise alongside economic growth, supported by initiatives like CDC vouchers, cash payouts, and utilities rebates.
On housing affordability, Wong detailed measures aimed at stabilizing the property market, including additional cooling measures and the increased supply of new HDB flats. “In October, HDB will launch the first batch of flats under the new Standard, Plus, and Prime framework, with more substantial subsidies to ensure affordability,” he noted.
Expanding Opportunities and Social Support
Wong also outlined plans to create more opportunities for Singaporeans through investments in research and development and emerging technologies such as robotics and artificial intelligence. Major infrastructure projects like Changi Airport Terminal 5 and Tuas Port are expected to enhance Singapore’s competitive edge in global logistics.
He emphasized the importance of strengthening the social support system, noting recent initiatives aimed at uplifting lower-wage workers and supporting vulnerable families. Wong indicated that more support would be forthcoming, with details to be shared at the upcoming National Day Rally.
A Unified Future
Wong concluded his message by encouraging unity among Singaporeans. “This National Day, we have every reason to rejoice and much to be proud of,” he affirmed. Reflecting on Singapore’s progress from a third-world nation to a global leader, he reiterated, “My fellow Singaporeans, we are in this together. We are in this for each other. Let us take Singapore forward, together as one united people.”
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