Unity will also be important as we push forward against the economic headwinds. Global trade and investment flows are facing growing obstacles. Gover… - Halimah Yacob

The raison d’etre for meritocracy is clear. The economic advantage that accrues to a person should depend on capabilities and effort rather than family background. Meritocracy allows the most talented to succeed through equality of opportunities and fair competition leading to a more equitable distribution of income and wealth. Meritocracy facilitated social mobility in Singapore, enabling the growth of an expanding middle class. We now agree, however, that the very conditions that contributed to meritocracy can also result in inequality.

Stewardship includes taking care of one another, and working together to solve the problems we face today. Socially, we have to take care of our ageing population and growing healthcare needs. Economically, we have to prepare workers and businesses for new jobs and opportunities. And in terms of security, we must deal with divisive forces that are sweeping across the world, including the twin threats of extremist terrorism and Islamophobia. But stewardship also means planning for the future, and building for the next generation. We must invest in our economy and our people. This includes infrastructure and hardware, but also education and healthcare.

Against the backdrop of great power rivalry, smaller countries like Singapore are experiencing growing pressures to take sides. We will be subject to foreign influences and disinformation campaigns, aimed at shaping our domestic public opinion, and pressing the Government to adopt certain positions. We must do our utmost to resist such pressures. We have to close ranks and stay united, regardless of race, religion, or political affiliation, especially when it comes to core national interests. We must never allow external parties to divide us, and should always stand together as one people to uphold Singapore’s vital interests.