Singapore is the only non-oil producing country to benefit from our reserves for our annual budget
The most unique thing about Singapore’s finances is that we get a significant amount of money each year from our reserves, that can be spent for the good of Singaporeans, President Tharman said in a Facebook post (8 Jan 2024) This is an outstanding fact, he said. It is outstanding because we are the only country […]
Singapore Retains World’s Top Maritime Centre For 10th Consecutive Year
Singapore retained its lead as the world’s top maritime centre in the Xinhua Baltic International Shipping Centre Development (ISCD) Index. This is the 10th consecutive year that Singapore has achieved this. The latest Xinhua-Baltic ISCD index published this year by the Baltic Exchange and China’s Xinhua News Agency, ranked Singapore as the leading maritime centre […]
WP clarifies their position on regressive GST upon being probed, says it does not oppose GST
Since the GST was introduced on 1 April 1994, the WP had opposed it as a ‘regressive’ tax. At every stage also when the GST was hiked – 4% in 2003, 5% in 2004 and then 7% in 2007 – the WP had opposed it. Had it not been for the recent exchange in Parliament […]
Does a single poverty line help you to identify who are the poor who really need help?
The Workers’ Party Jamus Lim renewed his party call for an official poverty line. He called for the establishment of a committee of government representatives, civil society leaders and academic experts to decide what the poverty line should be, and for all government assistance and policies to then be pegged to this threshold. Back in […]
A look at Singapore’s COVID-19 response, a complex and wicked problem on a grand scale
“COVID-19 was a very complex and wicked problem on a grand scale,” said DPM Lawrence Wong. Our battle with the virus was a journey with many twists and turns, and with repeated surprises and disruptions along the way. The situation was dynamic and fluid, with new information and developments unfolding daily. We had to operate […]
Lawrence Wong cautions PSP and WP against pricing Singapore out of competition
One year ago during the budget debate in 2022, the WP suggested that corporate tax be raised in lieu of the GST hike. In particular, WP MP Louis Chua suggested that raising the corporate tax rate to the proposed global minimum effective tax rate of 15 per cent, under Pillar Two of BEPS 2.0, could […]
WP Jamus Lim thinks today’s needs are bigger than tomorrow’s challenges
In Parliament, the Workers’ Party (WP) had argued for more of the NIRC to be used as government revenue for spending. They had called for 60% to 70% of NIRC to be used. In an exchange with a netizen named Richard Weng, WP Jamus Lim said that it was about striking an appropriate balance between […]
Many governments spend first, then look for funding. The PAP Government has a different approach.
In many countries, governments spend first and then look for money to fund the spending. The result is a huge debt burden for future generations when governments make big promises to get elected and then borrow to fund their promises. The Singapore PAP Government’s approach to spending is different. The Government set aside money for […]
Singapore’s political contestation will continue, likely to intensify
Deputy Prime Minister Lawrence Wong spoke at the annual public service leadership ceremony on November 1, 2022. In his opening speech, he highlighted that the Public Service played a pivotal role in keeping Singaporeans safe during the Covid-19 pandemic, from keeping borders, checkpoints, hospitals, and vaccination centers running smoothly to reaching out to households and businesses to […]
Is it true that Leong Mun Wai made bogus allegations against the PAP Government?
The Government did not spend a single cent to build Sports Hub. It is only right and fair that when the Government decides to terminate the Private Public Partnership (PPP) with SportsHub Pte Ltd, they should pay for the capital expenditure incurred by the PPP in the construction of Sports Hub. Anything less would be […]