The Workers' Party (WP) tabled a motion outlining their economic proposals for Singapore on August 4 or 5, presenting an alternative "economic playbook" with MPs Kenneth Tiong and Jamus Lim leading the effort in Parliament [1, 2, 3]. A key part of the WP plan called for shifting Singapore’s economic reliance from foreign multinational corporations (MNCs) to local small and medium enterprises (SMEs) and increasing the role of domestic demand [1, 2, 3].
Former Senior Minister of State Lee Yi Shyan criticized the WP’s approach as politically opportunistic and lacking a well-grounded economic foundation [1, 2, 3]. Lee emphasized that while Singapore does seek dynamic local companies and healthy domestic demand, these cannot replace foreign investment and access to global markets, which remain crucial to the economy [1, 2, 3].
Lee’s criticism posted on Facebook on August 16 was publicly supported by PAP ministers K. Shanmugam, Chee Hong Tat, and Ng Chee Meng, with Shanmugam and Chee going on record backing Lee’s views [1, 2, 3].
In response, WP MPs Kenneth Tiong and Jamus Lim pushed back via social media the same day, accusing Lee of mischaracterizing their arguments and presenting a false binary between global and local economic strategies [1, 2, 3]. They defended their stance that a stronger local SME base can complement rather than replace foreign multinationals.
During the parliamentary debate, WP accepted three of four amendments proposed by PAP backbencher Edward Chia. These amendments recognized the importance of balancing both global companies and local enterprises, as well as valuing both external and domestic demand in Singapore’s economic model [1, 2].
The disagreement over the exact date WP tabled the motion—August 4 according to two sources, August 5 according to one—remains unresolved [1, 2, 3].
The exchange marks continuing tensions between the ruling People's Action Party and the opposition Workers' Party over economic vision as Singapore navigates its future growth strategy.
