Lessons from Sri Lanka on bad politics, mismanagement and populism

government, reserves, spend, sri, tax, lanka, country, borrow, Singapore, country, debt, future, foreign, GST, pay, politics, WP, jamus, pritam, singh

Good politics, honesty and integrity, and good governance are topics the PAP Government repeatedly remind Singaporeans of, sometimes like a broken record. But the experience of Sir Lanks tells us just how important these are. Sri Lanka is in its worst crisis since its independence in 1948.  A severe shortage of foreign currency has left […]

Did Workers’ Party propose more than one way to dip into strategic reserves?

reserves, generation, spend, future, wp, nirc, land, sale, proceeds, grow, propose, increase, netizen

Did Workers’ Party (WP) propose more than one way to dip into Singapore’s strategic reserves? Yes they did. WP in fact, proposed 2 ways to dip into our strategic reserves for recurrent spending: direct use of land sale proceeds and increased use of NIRC. Land sale proceeds Singapore’s reserves include physical assets like land. Currently, […]

Does GST hurt the poor the most? Arguments from PSP and WP.

spend, income, reserves, government, asset, future, generation, increase, land, PSP

Despite Finance Minister Lawrence Wong taking great pains and going to great lengths to explain how the government has designed the GST in such a way that it is actually progressive and not regressive, and does not hurt the poorer segment of society, the opposition WP and PSP continue to mislead on the impact of […]

Lessons from WP on how to keep the golden goose lean and thin

spend, goose, land, Singaporeans, future, income, WP, budget, generate, proceeds, well-being, fat, generation, people's, raise, reserves, sale

The Workers Party (WP) which opposes the GST hike, proposes to raise revenue to fund increased spending in the following ways: Use land sale proceeds to fund budget spending; Increase NIRC ( Net Investment Returns Contribution) from 50% to 60%. Point 1 Currently, proceeds from land sales are already being used – indirectly – for budget […]

We have to manage our finances in a responsible way: Lawrence Wong

Prudence in Past Reserves- We have to manage our finance in a responsible way

In 1959, Singa­pore won self-governing status from the British, and general elections were held. Dr Goh Keng Swee resigned as a civil servant to contest as a PAP candidate. When the PAP won, Dr Goh became Singapore’s first Finance Minister. He soon discovered that the government was almost broke, and expected a budget deficit of […]

Jamus ignores the sufferings of people hurt by currency speculation

Jamus Ignores the Impact of Currency Speculation

Currency speculation, in particular, the speculation of the Singapore dollar, can take place with or without knowing the full size of our reserves. When Jamus called for the revelation of the full size of the Singapore reserves, what he is really asking for is a more ‘efficient’ speculative attack on the Singapore dollar. WP Jamus […]