Home Capital Broker's Calls

With elections over, it’s “jobs jobs jobs” for the PAP

Ng Qi Siang
Ng Qi Siang7/16/2020 01:25 PM GMT+08  • 4 min read
With elections over, it’s “jobs jobs jobs” for the PAP
Now that elections are over, the government will refocus efforts on job creation amid the Covid-19 recession.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (July 16): Singapore’s ruling People’s Action Party (PAP) was duly returned with a supermajority following general elections on 10 July 2020. Yet there was some cause for disappointment as it suffered an 8.7 ppt loss in vote share since 2015 to capture just 61.24% of the votes -- it’s second-lowest in its history. Still, with the Covid-19 pandemic deepening traditional economic concerns about labour market conditions and cost of living, Singapore’s next government will be looking to deliver on its election promise of providing “jobs, jobs, jobs”.

Oxford Economics analyst Sung Eun Jung observes that the PAP’s vote share has trended downwards since 2001. While 2015 saw it gain a crushing victory with 69.9% of the valid votes, that election was widely regarded to be an exceptional one following the celebrations of Singapore’s 50th year of independence celebrations and the death of its first Prime Minister, Lee Kuan Yew. GE2020 was perhaps the natural continuation of this prevailing trend.

Despite gunning for every one of Singapore’s 93 parliamentary seats, the PAP lost three political office holders in a four-member Group Representative Constituency to the opposition Worker’s Party. This is only the second time since independence that an opposition party has managed to win one of these “super-constituencies” and sees the greatest amount of opposition representation in parliament since independence with 10 elected Worker’s Party (WP) MPs and two appointed non-constituency MPs (NCMPs) from the Progress Singapore Party (PSP). Nevertheless, retaining a supermajority means that the PAP’s mandate to govern remains relatively stable.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.