But nothing could be further from the truth.
All surpluses are returned to Singaporeans
Spending without bankrupting the country
The money set aside for the Pioneer and Merdeka Generation Packages ensures that the Government will be able to honour their promises to Singaporeans. Regardless of how the economy performs, and regardless of whether there is a recession, money has already been set aside to meet government’s obligations to the Pioneer and Merdeka generations.
In 2018, there were $7.7 billion surpluses and these were used in this way: the bulk of it was set aside for rail infrastructure and premium subsidies while some were distributed to Singaporeans via the SG Bonus.
More pressing challenges ahead than inflation
Leaders must be more farsighted than citizens. Leaders cannot be so narrow as to focus on one crisis while ignoring all the rest as what WP Jamus Lim appeared to do doing. He has suggested in a Facebook post that the increased in tax revenue that the Government collected, the so-called extraordinary surplus the Government has, be used to postpone the GST hike and rebated back to Singaporeans to help them cope with inflation.