An Economy of the Future that Works for All (Main Debate)
On 5 August Parliament debated the Workers' Party motion "An Economy of the Future that Works for All", moved by Mr Kenneth Tiong (Aljunied) and standing also in Assoc Prof Jamus Lim's name. Twenty MPs spoke over more than six hours. The original motion asked the House, "notwithstanding" the Economic Strategy Review, t...
Open digest, stances, and transcript
On 5 August Parliament debated the Workers' Party motion "An Economy of the Future that Works for All", moved by Mr Kenneth Tiong (Aljunied) and standing also in Assoc Prof Jamus Lim's name. Twenty MPs spoke over more than six hours. The original motion asked the House, "notwithstanding" the Economic Strategy Review, to believe in a more equal and inclusive economy driven by dynamic local companies; Mr Edward Chia moved four amendments replacing "notwithstanding" with "in line with" and adding global enterprises and external demand, and the two were debated as a single question. AI ran through the whole sitting. Mr Louis Chua set some $20 billion of annual land sales proceeds against $150 million for the Enterprise Compute Initiative, the "digital land" on which local firms must build, and $1 billion over five years for national AI research, noting that only 4% of firms had embedded AI into core business processes by 2026, at 15% among SMEs against 63% for larger firms, and proposed an "HDB model for compute" with a published rate card. NMP Mark Lee reported 5.7% second-quarter growth and 12.2% manufacturing growth on AI-related electronics demand, but said businesses joke that if you are not AI you are "BI". Ms He Ting Ru warned that AI-driven data centres consume energy and water, raise emissions and utility prices and disrupt nearby communities. Mr Andre Low proposed a "Fair Start Promise" as AI automates junior tasks. Replying, Minister of State Dinesh Vasu Dash cited 32,800 entry-level PMET vacancies in the first quarter of 2026, and Senior Minister of State Low Yen Ling said the Enterprise Compute Initiative was meant to kickstart adoption and would be monitored. No vote was taken at this sitting.
- • The original motion read "notwithstanding" the ESR; Mr Edward Chia's four amendments changed it to "in line with" and added global enterprises and external demand
- • Mr Louis Chua cast compute as the land of the AI economy: about $20 billion in annual land sales proceeds versus $150 million for enterprise compute and $1 billion over five years for national AI research
- • Only 4% of firms had embedded AI into core business processes by 2026, at 15% among SMEs against 63% for larger firms
- • Ms He Ting Ru said AI-driven data centres consume energy and water, raise emissions and utility prices and disrupt nearby communities
"In the AI economy, compute is to value creation what land was to the industrial economy, the scarce foundational input on which everything else is built."