• Home
  • GE2025
  • GE2025: Global Economic Uncertainty is a “Tidal Wave of Change”, Says DPM Gan Kim Yong

GE2025: Global Economic Uncertainty is a “Tidal Wave of Change”, Says DPM Gan Kim Yong

Image
DPM Gan Kim Yong at PAP rally at Yusof Ishak Secondary School on April 26. Image: Straits Times

The economic uncertainty triggered by the United States’ imposition of tariffs on its trading partners is no ordinary challenge, but a “tidal wave of change”, Deputy Prime Minister Gan Kim Yong warned at a PAP rally on April 26.

Speaking at Yusof Ishak Secondary School, Mr Gan pushed back against critics who claimed the ruling party’s reaction was exaggerated. “Are you sure this is just another storm? This is no ordinary storm. This is a tidal wave of change,” he said.

Mr Gan, who also serves as Minister for Trade and Industry, added that the current global shifts could have long-term implications for Singapore’s position as a trading hub. He noted that some multinational corporations (MNCs) are already pausing investments and slowing hiring.

“Supply chains may be further reconfigured,” he said. “Singaporeans are worried. Businesses are feeling the uncertainty.”

Nevertheless, Mr Gan assured voters that Singapore is prepared. The Government, he said, rolled out a comprehensive Budget earlier this year to equip Singaporeans to navigate the uncertainty — offering programmes such as the SkillsFuture Jobseeker Support scheme and career conversion pathways.

“We may not be able to save every job, but we will protect every worker,” Mr Gan pledged. “The PAP has your back.”

Mr Gan, who now helms the PAP team in Punggol GRC, said governing continues despite the election season. He revealed that trade talks with American counterparts are ongoing, made possible by longstanding trust between the two governments.

“They know us and they trust us,” he said, adding that Singapore’s exports to the US could see favourable consideration due to these ties — though he declined to reveal details, citing confidentiality.

The rally also featured Senior Minister Teo Chee Hean and Mr Gan’s fellow candidates in Punggol — Ms Yeo Wan Ling, Ms Sun Xueling and Dr Janil Puthucheary — who each spoke on their plans for the young and fast-growing estate.

Mr Gan praised Punggol’s transformation into a “wow town” and pledged more upgrades, including additional covered linkways. “I will talk to my good friend, Prime Minister Lawrence Wong, who is also Finance Minister, to see if we can get more money to build necessary infrastructure,” he said.

Highlighting the experience of the PAP team, Mr Gan said Dr Janil, Ms Sun, and Ms Yeo bring nearly 30 years of combined town council experience, with his own 24 years adding to the team’s capabilities.

Dr Janil stressed that the team believes in hard work over empty promises. Ms Sun recalled starting a container library a decade ago to give Punggol children a strong start, and announced that new schools — a primary, secondary, and junior college — are on the way.

Meanwhile, Ms Yeo, who advocates for platform workers, said: “Fair compensation, injury protection, and CPF contributions aren’t just policy topics. They affect real lives right here in Punggol.”

Calling for residents’ support, Mr Gan concluded: “There is much we have done together, but yet much more we can achieve — with you, and for you.”

Scroll to Top