There had been debates on whether Singapore should implement minimum wage. The idea of a minimum wage remains controversial today. There are many advantages and disadvantages of introducing minimum wage. Luxembourg has the highest minimum wage in the world of US$13.78 per hour. Currently, there is no minimum wage policy in Singapore.
Today Online, 13 June 2020
SINGAPORE — Over the past decade or so, calls for a minimum wage system in Singapore has not gone away, with public debates being reignited every now and then.
In recent weeks, the proposal has again been mooted by some, as Singaporeans rethink the value and role of low-wage workers in essential services, whose importance has been thrown into sharp relief more than ever amid the upheaval caused by Covid-19.
This is despite the Government’s repeatedly making clear its stance on the issue: Among other things, it has argued that having such a system would adversely affect the Singapore economy’s competitiveness.
For example, in July 2013, Prime Minister Lee Hsien Loong said at the inaugural DBS Asia Leadership Dialogue that a minimum wage will not solve the problems of low-wage workers in Singapore.
Read more at https://www.todayonline.com/big-read/perennial-debate-singapore-minimum-wage
Watch a short video on minimum wage to understand more!
There's no right or wrong answer to this. There are advantages and disadvantages of implementing minimum wage!