Election goodies: What to judge them against

In Economy on 26/01/2011 at 5:17 am

Well the goodies bandwagon is rolling with S$235m in educational goodies. Then there was last yr’s annc that HDB had budgetetd S$550 million budget under its Main Upgrading, Interim Upgrading and Lift Upgrading programmes: around 54,000 flat owners in Pasir Ris, Hougang and Tampines can expect new amenities in their neighbourhoods, including new car porches, covered linkways and children’s playgrounds.

S$785mn so far on election goodies.Any other smaller ticket items I missed out YPAP*?

Sounds pretty decent.

But in analysing the amount S’poreans are getting back, S’poreans should judge the figures against the total of two numbers

— S$8.7bn that Temasek lost on Barclays and Merrill Lynch. In financial year ending March 2008  the government injected abt S$10 billion into Temasek. This sum was more or less equal to the amount that the government took in property sales for that year. “Easy come, easy go, Ho, Ho Ho,” because in the following yr Temasek could have lost as much as S$7bn on Merrill Lynch. And S$ 1.7bn  on Barclays. Err not much change left over from injection: only S$1.3bn, “peanuts” as Mrs GCT might have put it, except she didn’t.

— S$4.8bn that went into govmin coffers (net of welfare spending) as a result from the increase in GST from 5 to 7%. See RP’s Tony Tan analysis. Don’t look down on scholarship winners, juz because PM and Mah Bow Tan won scholarships. Scholars usually have great analytical skills.

Let’s see if govmin gives us goodies close to S$13.5bn, or juz “peanuts”.

Or if we want to be absolutely fair, see if the goodies exceed the S$4.8bn from the GST increase. After all, we all know that gambling is risky, and that the S$8.7bn loss could have been a gain. Ho,Ho,Ho.


*You people might as well do sume useful work for the PAP, rather than embarrassing the party by the crass, boorish and stupid behaviour of yr members.

  1. Any tallied figure on miniscribe, global crossing, abc learning, blackstone and shin corp?

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