Further to Why PAP aiming for 65% of the popular vote ,if the PAP really really wants to get more 65% or more of the popular vote, it should find an excuse to kick the promised 2 points increase in GST into the long grass. It should say “Thanks to PM’s wife and her team in Temasek, and the team in GIC, we got lots of money. So no need to increase GST until after 2025.
After all over the last 10 years, Singapore’s net investment returns (NIR) contribution (NIRC) to the Budget has more than doubled from S$7 billion in FY2009 to an estimated S$15.9 billion in FY2018.
NIRC consists of 50 per cent of the Net Investment Returns (NIR) on the net assets invested by GIC, the Monetary Authority of Singapore and Temasek Holdings and 50 per cent of the Net Investment Income (NII) derived from past reserves from the remaining assets.
In other words, we spend 50 per cent of the estimated gains from investment, and put the remaining 50 per cent back into the reserves to preserve its growth for future use.
Associate Professor Randolph Tan is Director of the Centre for Applied Research at the Singapore University of Social Services, and a Nominated Member of Parliament.
Making this announcement has the added advantage that after making it, it can close TOC down, persecute prosecute more people for criminal defamation or illegal assembly, and 50-60% ofS’poreans won’t get worked up about these “repressive” acts. They’ll think it’s a fair trade.
PAP should continue to govern as it evolves in keeping with the times. The elites forgot the use of Lee Kuan Yew’s goodwill and credits with the Super Powers for 25 years. Soon, this maybe forgotten. The key to PAP success is the creation of new sources of revenue to replace those after the Cold War 1948-1989. It is a tough task.