Singapore’s Prime Minster Lee Hsien Loong talked with Economic Society of Singapore president Euston Quah on Friday night about why Singapore is unlikely to pursue the Nordic welfare benefits model.
As public debate continues over what growth policies Singapore should pursue, one model that keeps coming up is the Scandinavian example.
Economists and social experts have repeatedly cited the Nordic experience, noting how egalitarian systems and pro-family policies have helped countries like Norway and Sweden achieve high growth, high birth rates and generous welfare, all at the same time.
Prime Minister Lee said that the fundamental choice is: the current practice which allows low taxes and targeted welfare benefits or high taxes and comprehensive welfare.
