An Unimaginative Finance Minister Is The Last Thing Singapore Needs!
When Heng Swee Keat was anointed as the heir apparent to Lee Hsien Loong as the next PAP leader, you could sense the relief amongst PAP cadres that at least Chan Chun Sing would not be leading them. To the PAP cadres, Heng Swee Keat may be the best thing next to sliced bread. But Michael Barr correctly points out that he is...
The Fall of Net Investment Return Contributions?
Back in 2018, the PAP boasted that the Net Investment Return Contribution (NIRC) has more than doubled from $7b in 2009 to $15.9b in 2018. However, the NIRC for 2019 has dramatically dropped to $3.6b in - which is about half of 2009's NIRC when the world was facing an unprecedented global financial crisis! Under the rules, the...
Reality check and why we should not be afraid
We all know that from the mid 80’s onwards Singapore took a very wrong turn when it embraced Neo-liberal economics and focused almost exclusively on supporting businesses via GLC’s and Foreign Multinationals at every other expense. Before that we built a strong foundation and that still exists today. Although under flawed...
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