Today-Feb 25

To correct what he considers a “wage disadvantage” faced by Singaporean workers, Non-Constituency Member of Parliament Leong Mun Wai suggested that the Government could impose a levy on employment pass holders since efforts to rebalance the foreign-local workforce ratio are moving “too slowly”. Mr Leong used the financial sector as an example of how, in his view, the rebalancing is not taking place fast enough and that localization is not on the agenda of the Monetary Authority of Singapore (MAS), which regulates the sector. His comments, made during the Budget debate in Parliament on Thursday (Feb 25), drew sharp rebuke from Mr Ong Ye Kung, an MAS board member, who said that the Progress Singapore Party (PSP) member’s remarks were “grossly unfair”.

In laying out PSP’s policy suggestions during the Budget debate, Mr Leong said that Singapore workers have a wage disadvantage because employers need not contribute to the Central Provident Fund (CPF) of their foreign workers.

Read more at: https://www.todayonline.com/singapore/ncmp-leong-mun-wai-says-efforts-rebalance-local-foreigner-jobs-ratio-too-slow-drawing-ong