6. Invest in a shared tomorrow
Singapore can deal with today’s challenges while providing a strong foundation for the future by “stewarding our limited resources responsibly and sustainably” on three main fronts, the report said.
These include optimising limited land and environmental resources, strengthening our food and water security, and upholding fiscal prudence and responsibility.
“All these will require more public resources, which come largely from tax revenues, as well as investment returns from our reserves. Difficult decisions will have to be made on how we will prioritise our spending, who pays, and how to keep our overall system fair and equitable,” the report stated.
“These considerations of fairness apply not just to today but also across generations. If we only think short term, we may end up short-changing the next generation, who will inherit a Singapore that is ill-prepared for the challenges of the future.”
7. Do their part as one united people
The report concluded that the collective strength of Singapore’s society depends on its unity and how people care for each other.
Underpinning this is a need to nurture a stronger culture of giving, especially those who have done well, and better connect donors and volunteers to local community needs.
It also requires strengthening multi-racialism and the Singaporean identity, as well as creating more avenues for civic participation.
“It is clear that Singapore is strongest when we stand together – when we recognise that caring for each other is also the best way to care for ourselves, and when we develop a deep sense of kinship and trust in one another,” the report said.
“In particular, those who have succeeded should do their part to uplift others in society.”
Ultimately, a “functioning and robust social compact creates trust”, the report added. “It leads to a sense of assurance that someone’s got our interests in mind – that we have got each other’s backs.”
While some of the key shifts are underway, details of other initiatives will be announced in the coming months and at Budget 2024.
Members of the public can explore the recommendations put forth in the report by visiting the Forward Singapore Festival at Gardens by the Bay from Friday to Sunday. The festival will then make its way into various heartland locations until Jan 28 next year.