SINGAPORE: After Prime Minister Lawrence Wong introduced a slew of help measures supposed to incentivise {couples} to have youngsters throughout his Nationwide Day Rally speech on Aug 23, it was reported on by many worldwide media websites, together with The Guardian, CNBC, Bloomberg, and The Japan Instances.
With fertility charges plummeting in quite a few developed international locations, this could come as no shock, as governments, like Singapore’s, endeavour to seek out options.
Nevertheless, an Aug 31 (Monday) article for Connecticut Public, a statewide public media group in Connecticut, took it one step additional, citing consultants within the US as saying that the nation sees classes from what Singapore is doing, by the use of the direct monetary help of virtually S$70,000 every Singaporean little one will obtain from delivery until the age of 17, in addition to extra childcare leaves, extra inexpensive childcare, and higher entry to housing.
It quoted an skilled on household growth and demographic traits, Karen Guzzo, as saying that that is the sort of assist {couples} within the US who’re contemplating changing into dad and mom can use.
“I used to be studying by what Singapore is doing, and it’s arduous to not drool with envy… investments in youngsters and household for an prolonged time period, and I feel that’s actually vital,” Dr Guzzo is quoted as saying.
The article additionally identified that like Singapore, the variety of retirement-age seniors is rising rapidly, whereas the variety of individuals youthful than 25 is reducing.
At 1.63, the US complete fertility charge continues to be properly above Singapore’s (0.87), though it’s additionally at a historic low, and Dr Guzzo added that she believes the pattern will proceed downward.
Present measures, she added, is not going to do practically sufficient. Whereas there’s a federal little one tax credit score, and financial savings accounts for some infants born in the course of the Trump administration, this pales compared to what Singapore might be providing.
Paid household depart is nearly nonexistent for many US staff, and President Trump has been vocal towards help for childcare prices on a federal stage.
Based on Dr Guzzo, nonetheless, the time to do extra is now, earlier than the nation’s delivery charge drops to ranges just like Singapore.
“There may be extra potential if we may simply assist individuals have the youngsters they need to have,” she added. /TISG
Learn additionally: It is a lot of assist to households!’: Singaporeans react to PM Wong’s NDR bulletins, together with S$70,000 for youngsters’s monetary help
