The Enormous True Size of the Reserves
During the Budget Debate on Friday 26 February Heng was asked about using the proceeds from land sales in the Budget. His answer was deliberately disingenuous: “The current approach of spending the land sales proceeds through the NIRC (Net Investment Returns Contribution) avoids these pitfalls, and allows the Government to...
This year’s budget
Click to enlarge This year’s budget, like last year’s, have schemes to bailout businesses. A portion of both budgets goes towards paying the wage bill of businesses (Job Support Scheme), although that is not the only bailout scheme. One can look at the schemes as supporting jobs or one can look at them as bailing out businesses...
The Economy Is Paying the Price for the Government’s Failure To Provide Enough Stimulus
In a few hours my old Cambridge colleague, the Finance Minister and Postponed Yet Again Seat Warmer PM-In-Waiting Heng Swee Keat, will be presenting Budget 2021. State media have been busy as usual doing their job of hoodwinking gullible Singaporeans and spreading fake news and disinformation. They have been trumpeting the Government’s...
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