Singapore's Prime Minister Lee Hsien Loong announced the formation of an Economic Strategies Committee (ESC) today.

As stated by Prime Minister Lee, the ESC will be chaired by Minister for Finance Tharman Shanmugaratnam.

It will comprise members from the private and public sectors and the labour movement, and will consult widely in order to tap on a wide range of views and ideas.

The Government will release the list of ESC members and further details in two weeks' time.