Singapore introduced the NIR framework back in 2008. The framework allows the Government to treat 50% of net investment returns as government revenue for spending. The framework started out with the reserves managed by GIC and the Monetary Authority of Singapore. Temasek Holdings was then included in the framework in 2015.
A 50:50 division of NIRC takes care of both the present and the future Singaporeans in a fair way. Equal treatment of present and future generations of Singaporeans.
Today (FY2022), the NIRC is expected to be $21.6 billion. This is tripled the $7 billion in FY2009 when it first started making its contribution.
What the PSP and WP want
What if our forefathers had the mentality of the WP?
Raiding future generations
Where do we stand today
These are the facts of today.
Here in this country, the PAP Government spares no effort to uplift the lower income group and their children through various programmes like KidSTART and UPLIFT. The vulnerable groups are being taken care of including our inmates in prison where help is rendered to help them reintegrate back to society, where potential is being unlocked through prison school, giving the young second chances at life.
The future will come!
The future will come. It takes political courage for the PAP Government to do right not just by the present generation of Singaporeans, but by the future generations as well.