Associate Dean of the SMU School of Economics Professor Hoon Hian Teck, one of the panellists, commented that the government showed fiscal prudence to set aside $8 billion from the current budget for the Pioneer Generation Package. On the challenge of economic restructuring, Prof Hoon said that this is not unique to Singapore, developed countries also have to cope with the challenge. Once a country has caught up with the developed economies, it will shift from adopting technologies to innovating technologies, which is a sea change. He expressed optimism that Singapore’s young entrepreneurs, tapping new technologies and venturing overseas, will lead Singapore to another phase of remarkable growth.  On building a fair and equitable society, Prof Hoon noted that the growth in the median incomes over the last few years through various efforts, such as the Wage Credit Scheme, has helped lower the Gini coefficient.