Price controls may look attractive, but costs often only emerge later: PM Wong
Singapore Prime Minister Lawrence Wong warned that while price controls may offer immediate relief to consumers, they often lead to long-term market distortions like shortages and reduced investment. He emphasized that government intervention should be targeted and evidence-based to avoid unintended economic consequences.
Why it matters
This highlights the ongoing global economic debate regarding the balance between government market intervention and free-market efficiency.
Consumers may benefit from price controls initially, but over time, suppliers may have less incentive to produce or invest, says the prime minister.
Prime Minister and Minister for Finance Lawrence Wong speaking at the Economist Service anniversary dinner on Sep 30, 2026. (Photo: CNA/Alyssa Tan)
Ang Hwee Min 30 Sep 2026 08:00PM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. Get bite-sized news via a new cards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FAST SINGAPORE: Price controls may benefit consumers at first, but suppliers may have less incentive to produce or invest over time, Prime Minister Lawrence Wong said on Wednesday (Sep 30).
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