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Singapore's approach has never been 'GDP growth at all costs': Dr Amy Khor
By S Ramesh | Posted: 19 July 2010 1928 hrs
SINGAPORE: Nominated Member of Parliament Viswa Sadasivan has filed a motion that policymakers should look beyond GDP as a measurement of the country's well-being.
Moving the motion for adjournment at Monday's Parliament sitting, Mr Sadasivan said changed circumstances today require a broader framework which looks at non-economic factors.
These could be being able to fulfill aspirations, work-life balance, or just being happy.
For the middle and lower income, it could be buying a flat, or the rising cost of living.
Replying government feedback unit, REACH chairman, Dr Amy Khor stressed that Singapore's policy has never been a "GDP growth at all cost" approach.
She says a responsible government takes a balanced approach towards developing a country.
This means taking a holistic account of economic, social and security needs for the benefit of citizens, so that progress is broad-based.
Dr Amy Khor, Chairman, REACH, said: "Even as we debate the pros and cons of various indicators to reflect our socio-economic conditions, we must not forget that indicators are what they are described to be --- signs and pointers.
"It is a challenge to develop indicators that accurately or unambiguously capture a particular state of affairs in the socio-economic realm, or the outcomes of a policy at any point in time. Hence, it is important that we do not skew behaviour or encourage short term outlook by over emphasising the use of indicators.
"Government policy-making must instead be anchored in a clear understanding of reality, and cannot be driven by short term measurement of indicators."
- CNA/jm
By S Ramesh | Posted: 19 July 2010 1928 hrs
SINGAPORE: Nominated Member of Parliament Viswa Sadasivan has filed a motion that policymakers should look beyond GDP as a measurement of the country's well-being.
Moving the motion for adjournment at Monday's Parliament sitting, Mr Sadasivan said changed circumstances today require a broader framework which looks at non-economic factors.
These could be being able to fulfill aspirations, work-life balance, or just being happy.
For the middle and lower income, it could be buying a flat, or the rising cost of living.
Replying government feedback unit, REACH chairman, Dr Amy Khor stressed that Singapore's policy has never been a "GDP growth at all cost" approach.
She says a responsible government takes a balanced approach towards developing a country.
This means taking a holistic account of economic, social and security needs for the benefit of citizens, so that progress is broad-based.
Dr Amy Khor, Chairman, REACH, said: "Even as we debate the pros and cons of various indicators to reflect our socio-economic conditions, we must not forget that indicators are what they are described to be --- signs and pointers.
"It is a challenge to develop indicators that accurately or unambiguously capture a particular state of affairs in the socio-economic realm, or the outcomes of a policy at any point in time. Hence, it is important that we do not skew behaviour or encourage short term outlook by over emphasising the use of indicators.
"Government policy-making must instead be anchored in a clear understanding of reality, and cannot be driven by short term measurement of indicators."
- CNA/jm
