Mr Deputy Chairman, Sir, first I must thank the Member for Serangoon for his remark that my Ministry is the most important Ministry in the Government. Evidently he thinks so, but some members of the Press do not, because normally you do not find them giving much space to my warnings of the economic future of Singapore. Sir, I am glad that the Mem bers of this House are now slowly realising, after repeated warnings given by me from the September sittings onwards, that our economic future is not as bright as we had hoped it would be Sir, during the September sittings, where we debated the Governor's Address, I warned the House that we would be lucky if we could manage to keep up our entrepot trade to the same level as we are doing now. There are many people in Singapore who, unfortunately, cannot see the writing on the wall. They are still complacent about it and they still think that we will survive somehow. They say, "We have survived for the last hundred years. So why should we not survive now?" But Sir, they fail to note the changing conditions in the world today. They fail to realise that as each Asian country gains its independence, it wishes to develop its economy for the benefit of its own people and not for the benefit of some other middle man, like Singapore, and naturally you cannot quarrel with them over that. Sir, I am glad that Members of this House have now realised the true state of affairs and have shown their concern over the future of Singapore. Sir, what does the Government intend to do about it? Frankly, Sir, the Government can only try, but it cannot be a hundred per cent sure that our economic future will be sound, because a lot depends on the attitude of other countries towards us. Therefore, as I have always stressed, it is politics that will be the ultimate solution to our problems and not economy. The position of Singapore is viewed not from the economic angle but from the political angle. I have given warnings about our entrepot trade and I have laid stress on the development of our secondary industries. At the 7th November sitting I outlined a programme whereby we could encourage industries, but there again I must warn Members that a lot depends on whether we could realise the results that we hope would be achieved, on the attitude of the Federation. Sir, the duties imposed by the federation at its last Budget sittings on a lot of manufactures are going to affect greatly some of our industries, and I am not only disturbed but I am also, frankly, Sir, worried about it, and I think every responsible person in Singapore is worried about it. I have done my best to indicate to the Federation Government that Singapore and the Federation should be looked upon as one economic unit, though politically we may be separated, but again, Sir, it is politics that is today directing economy, and so far a solution has not yet been reached. I do hope that we may be able to reach a solution of viewing our two economic systems on a single unit basis rather than on a separate unit basis. I have not given up hope, Sir, in this direction but, frankly, I would be misleading this House if I said that I am over-optimistic. Sir, the Member for Serangoon has pointed to the right direction when he said that we should develop our fisheries to a greater extent. I entirely agree with him, Sir. I have given the problem of fisheries development a great deal of thought in the last few months because, as I see it, we are an island surrounded by waters from two of the greatest oceans of the world, and I think we could look towards the sea to support us more. However, the development of fisheries would take a lot of time. There is a schedule in the Estimates which shows a summary of expenditure incurred by the Fisheries Department. This has been steadily expanding since 1946. In 1946 it started with an expenditure of $37,000 only, going up to $41,000 in 1947, dropping to $14,000 in 1948 and $37,000 in 1949, then going up again to $163,000 in 1950, $143,000 in 1951, $268,000 in 1952, $311,000 in 1953, and I believe it is $500,000 this year and more next year. From these figures, Sir, you will see that the Fisheries Department has been expanding steadily. In the very little time that I have left to hold office as Minister for Commerce and Industry before the elections come along next year, I will do whatever I can to set the Fisheries Department on the right course so that it may be able to expand. Sir, I will speak in more detail on this subject when we come to the Fisheries Estimates.