Who Precisely Are We Safeguarding the Reserves For?
In Parliament on Friday Indranee Rajah reiterated like a broken record the constant PAP refrain that we need more immigrants and new citizens, using the hook that TFR has now fallen to 1.05. In the best PAP traditions of ensuring that anything must be due to factors beyond the Government’s control while anything good is the...
Net investment return contribution (NIRC)
1. The Net Investment Return Contribution (NIRC) in Singapore is a portion of the investment returns from the country's reserves that the government uses to fund its annual budget. It was introduced in 2009 and is calculated as a percentage of the net investment returns of the Singapore government's past reserves. Under the...
Busily Unproductive
I make no secret that I detest working in the office and regard white collar work as a form of masturbation where people get a high on being in a cubicle because they happened to have had the good fortune of spending three years in a cocoon so that someone who has done nothing useful would be able to issue them a certificate...
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