Do not fix it. Open up and empower the people.
Remove all controls to facilitate people's own attainments of their diverse needs and aspirations. Try this. Empower them through lowering costs of utilities, medicare, housing and transportation. When people see these they will respond by building the economy for you again. Now they are fast retiring or quitting or picking empty cans in the nearby shops.
Once people start to feel they could survive and have more leeways to attain their needs and aspirations, government will be the ultimate winners as people's success will translate into government success with higher revenues and greater social and cultural vibrancy to sustain the future of Singapore.
There will then be a brighter future which you only talk about but did not spell out so far.
consolidate in your previous thread