SINGAPORE CITY (SINGAPORE) – The ruling party of Singapore indicated on Saturday that its succession plan was likely to be delayed. This comes in the wake of its worst ever election results.
In Friday’s election, the ruling People’s Action Party secured 83 of 93 parliamentary seats. But its share of vote touched a record low and the opposition won a surprising 10 seats.
The results showed “a clear desire for a diversity of voices,” Prime Minister Lee Hsien Loong said in a briefing. “Singaporeans want the PAP to form the government but they, and especially the younger voters, also want to see more opposition presence in parliament.”
PAP has dominated Singapore’s politics, which is marked by stability and predictability, since the country attained independence in 1965. It was crucial in developing the city-state into a global finance hub and regional trading centre.
According to analysts, the unforeseen setback to the party would bring in stricter curbs on foreign employment and other changes to social policies to vacate the fears of opposition parties.
“Policymakers will have a tighter line to walk on foreigners in the labour force and to double-up efforts on the economic wellbeing of lower-income groups,” said Song Seng Wun, an economist at CIMB Private Banking.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field
