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MAS chief Ravi Menon: Singapore should consider minimum wage - Printable Version

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MAS chief Ravi Menon: Singapore should consider minimum wage - Blasterlord2 - 23-07-2021

How come he go against his PAP masters???

SINGAPORE - The Republic may want to seriously study a modest minimum wage as a complement to the existing progressive wage model (PWM), said Singapore's central bank chief on Thursday (July 22).

However, Mr Ravi Menon, managing director of the Monetary Authority of Singapore, cautioned against exaggerating the benefits of a minimum wage, saying it will not make a discernible dent in income inequality.


"If we have a minimum wage, we must be clear of its rationale: it is to help lift the wages of those at the bottom of the income distribution.

"A minimum wage also signifies a societal value: that no one should be paid less than this amount for his or her labour. It is not unlike setting minimum standards for workplace safety and humane conditions of work," he said.

He was speaking on the topic "An Inclusive Society" at the Institute of Policy Studies (IPS) at the Lee Kuan Yew School of Public Policy.

Mr Menon said that if a national minimum wage is seen as too big a step, the Government could more decisively use the Local Qualifying Salary (LQS) as a de facto minimum wage.


He said there is a large body of empirical evidence across countries that finds zero or minimal adverse effects on employment from increasing the minimum wage.

But the issue is not straightforward. For any form of minimum wage to work, governments need to simultaneously raise the price of foreigners relative to locals, he said.


https://www.asiaone.com/singapore/mas-chief-ravi-menon-singapore-should-consider-minimum-wage

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - RiseofAsia - 23-07-2021

To be fair.
Shd implement both minimium and maximum wages.

This is a crooked world.

好的事不做， 不好的事却做多多。

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - cityhantam - 23-07-2021

Is he preparing himself for next election?

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - Niubee - 23-07-2021

(23-07-2021, 01:13 PM)RiseofAsia Wrote:  To be fair.
Shd implement both minimium and maximum wages.

This is a crooked world.

好的事不做， 不好的事却做多多。

Big Grin Big Grin ??

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - klat - 23-07-2021

He only say ut he got no power as compared to ah jinx

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - Tangsen - 23-07-2021

Wait .... the MAS chief opposition partee issit?
Opposition keep asking for it

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - debono - 23-07-2021

(23-07-2021, 01:13 PM)RiseofAsia Wrote:  To be fair.
Shd implement both minimium and maximum wages.

This is a crooked world.

好的事不做， 不好的事却做多多。

Our govt. does not believe in maximum wages - for the elites Big Grin

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - RiseofAsia - 23-07-2021

(23-07-2021, 03:39 PM)debono Wrote:  
(23-07-2021, 01:13 PM)RiseofAsia Wrote:  To be fair.
Shd implement both minimium and maximum wages.

This is a crooked world.

好的事不做， 不好的事却做多多。

Our govt. does not believe in maximum wages - for the elites Big Grin

$$$ can let ghosts grind.

We shd attract God not Ghost.

RE: MAS chief Ravi Menon: Singapore should consider minimum wage - sgbuffett - 24-07-2021

The pap claims min wage cannot work but other countries have implemented for more than 60yrs...

They just refuse. Why because they ant to keep wages low to compete.