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The Honorable Chief Justice and members of the judiciary, my cabinet colleagues, distinguished guests, ladies and gentlemen, I'm very happy to join all of you this morning at this SG Law 200 Youth Forum and to see many young Singaporeans are gathered here.

This year marks the 200th anniversary of Singapore's legal system.

We are planning a series of events to mark this milestone, and this SG Law 200 Youth Forum is the first of the major events for this 200th anniversary.

And I'm very happy that MinLaw and IPS have set aside this space for young people to reflect on what the rule of law means for our society and also for our future.

When I speak with young people, the conversations usually turn to issues like mental health, inequality, and climate change.

Rarely do they begin with the rule of law, right? Very few talk about rule of law issues in any dialogue or engagement sessions.

What can you actually do? Is it just about having slightly better documentation and things? What is the end of that?

Let me put it this way.

The...

Stable multilateral framework that we were all familiar with is unraveling.

That framework was optimized for trade efficiency.

In today's world, countries are more concerned about security and resilience.

So countries everywhere are prepared to accept some inefficiency, higher cost in return for higher security and resilience.

And I wondered, you've already introduced taxes on luxury cars and properties, but do you see Singapore moving towards other things, a capital gains tax, for instance?