atans1

The strange case of the missing $18b in “Contingencies Funds”

In Accounting, Political governance, Public Administration, S'pore Inc on 19/08/2020 at 11:11 am

In https://atans1.wordpress.com/2020/05/28/cheat-sheet-for-fortitude-budget-hali-tied-of-signing-peanuts/ in May, I pointed out that $18bn was in “Contingencies Funds” in the then latest “Fortitude Budget”.

So when I first heard about the latest $8bn in corporate welfare (OK, OK there’s trickle down to the plebs), I tot “Only $5bn left leh”.

But then I learnt

Fresh S$8b Covid-19 measures funded in part by no mid-year bonus for civil servants, lower military spending: MOF

Constructive, bation-building media

So it seems that the entire $13bn has already been spent, and this new $8bn in corporate welfarism is being funded by squeezing civil servants (not that they don’t deserve having less Bismati rice and chicken thighs in their iron rice bowls) and spending less on the military (Can cut meh? Tot our paper generals need every cent in their budget to keep S’pore safe?) and on the development of infrastructure?

An Adrian Tan commented on FB

Smoke and mirrors. They drew down $13bn more than they needed for contingencies: https://atans1.wordpress.com/2020/05/28/cheat-sheet-for-fortitude-budget-hali-tied-of-signing-peanuts/. Now they say the extra $8bn coming from savings. What am I missing? 🤓🙄

No photo description available.
  1. Not just no mid-year bonus. But also 1 month pay cut for super scale. Plus year end bonuses likely also cut. There ARE plenty of civil servants (incl. Mindef) having >$28K monthly salaries.

  2. I would be keen to find from the $8 BILLON. How much is from civil servant bonus and how much is from military spending? If civil servant contribute a huge % of $8 billion, perhaps we should relook into their salary esp the superscale and are we getting what is it worth?

  3. if there was a reduced defence budget, there would be less overseas training exercises.

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