atans1

PAP is losing the war to keep S’poreans in ignorance

In Economy, Financial competency, Media on 02/03/2018 at 11:01 am

Be of good cheer, those of us who want the PAP lose its hegemony (Cybernuts excluded because like TRE’s Oxygen, they think a crushing defeat of the PAP is just another GE away: they’ve been thinking that since before Cyberspace came into existence), the PAP is losing the war on keeping S’poreans financially illiterate with comments like:

GST hike ‘the responsible way’ to fund areas of collective need: Heng Swee Keat

(Today)

Preserving reserves signals to markets strength of Singapore dollar: Chan Chun Sing

(ST)

Let me explain.

When two natural PAP supporters make the comments I report below, it’s clear that the retired chief economist of GIC (Known as LKY on FB), Donald Low, Chris K and others (including little old me) have not wasted our time raving and ranting that

— S’pore has too much reserves and that they can and must be used to make life better for S’poreans.

— And that tax rises show that the PAP administration are reckless prudent, or at least are mindlessly prudent.

FB post by a retired SAF officer, now active in mental welfare causes. He was one of the first Black Knights.

Maybe what the Government needs to do is to show to the citizens various scenarios (given some assumptions) about how to cater for the future financially. Period 2021-2025…, Scenario1…use of GST hike and 50% of Investment returns to manage the budget; Scenario 2…use of all reserves to do the same. Then show Sporeans what is left at end 2025, and how the projected financial state will affect Spore’s future financial health.

And this FB post by a lawyer who has said he voted for the PAP

The G says that Singapore’s reserves must be kept secret as a defence against speculative attack.

Whether true or false, there is an obvious price to pay in that if there is no public information about Singapore’s reserves, intelligent debate about Singapore’s fiscal policy becomes well nigh impossible.

The debate in Parliament currently appears to be rather sterile in the absence of meaningful facts and figures.

I am not in favour of the G’s current approach to the (non)transparency of Singapore’s reserves, which to me is not justified and makes no sense, on balance. We are better off having the knowledge to chart our national destiny.

People like Dr Tay Kheng Soon should take heart that the 70%ers can change their mind. He has often mused that educating S’poreans to realise that the PAP articulated alternative is not the only “right” way is a thankless, long and tedious task.

Whatever, remember that half of the 70% voted for Dr Tan Cheng Bock as president. He only lost because of Tan Kin Lian and Goh Meng Seng decision to fix S’poreans. As a TRE reader put it

Sabo King help Tony Tan by persuading Tan Kin Lian to steal 4.91% votes which is enough to prevent Tony Tan from winning.
Sabo King sabo TKL and made him lost his deposit.

 

 

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  1. Jan ’21 is about 2 years and 9 months from now, March ’18. everyone, calm down.

  2. No worries … I predict PAPies will be returned to power in 2020 with 65% to 75% of the votes.

    By then Singapore will be in the throes of a big ass recession, and everybody will be shitting their pants. Another repeat of 2001.

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