25.
Our
assessment,
12
supported
in general by
professional economists, is that the introduction of
a compulsory savings scheme would
increase our
external
production costs
and
weak en
our
competitiveness.
Our economy
de pen ds
on
our
exports. It therefore seems
particularly unwise to
do anything that could put
risk.
our
competitiveness
at
20.
We have there fore
rejected
saving schemes; because they would be an
solution to the problem of providing for
I believe
compulsory
inadequate
the needy
elderly; they would be unpopular with a considerable
ld/be
proportion of those affected;
economy at risk.
and they would put our
le
le
25.
We have not, Sir, disregarded the problems
for which the CP F was proposed as a solution: the
problems of improving the financial situation of the
elderly. The package of measures announced in your
Address is, I believe, a much more appropriate
solution. I agree with Mr. Cheong-Leen that these
measures must be seen to improve substantially on the
existing situation if they are to meet public concern
saying
on this problem, and I should
particular about our
Payment scheme.
like to say
say more
in
the Yong Service
proposals for
for the
se