Who says Singapore does not have minimum wage?
We have a form of minimum wage and something BETTER!
Progressive Wage Model
The Progressive Wage Model (PWM) requires companies to pay workers base wages or they won’t get a licence to run their business. Why is this model better than minimum wage? Because it includes components to ensure the worker improves his salary over time. NO salary freeze for anyone!
The National Wages Council
The National Wages Council (NWC) consists of tripartite representatives from unions, government and employers that come together to negotiate over and make wage recommendations yearly! This council looks at a variety of considerations, one of which is the economic conditions of the country.
Their recommendations are accepted by unionised companies and the public service, which sets a standard for the rest to follow.
Helping Workers With Targeted Welfare and Training
Singapore learns from the mistakes of other nations. It has a multi-pronged approach to tackling the low-wage problem. The main pillar of this support is Workfare; SkillsFuture, and many other training skills fully borne by the country!
We ought not to sit at our desks and read old, tired ideological concepts and wonder why our country has not implemented them yet.
Critics would do better to turn their guns to job creation, employability, productivity, skills and upgrading. We live in a world where utility is exchanged for payment. More important to find ideas to improve utility, right? Minimum wage, living wage and other such old schooled theories will only drag the economy down rather than lifts workers up.
In contrast to the multiple helping hands Singapore workers receive via PWM, NWC, Workfare and SkillsFuture, the old school minimum wage will never work in this century! It just passes the cost burden to employers and consumers. Now, this wouldn’t ordinarily be a problem if increased costs fill a practical need, but empty wage increases lead to empty price increases.