At the 7^th Ho Rih Hwa Leadership in Asia Public Lecture organised by SMU, Prime Minister Lee Hsien Loong highlighted that Singapore’s ageing population could have a serious impact on the economy and defence. He said that Singapore's population expanded at a mere 1.3 per cent last year, with the low trend likely to continue. High living costs, including education and lifestyle choices, have been cited as reasons for a low birth rate.