Thank you for the thoughtfulness and hard work building up our reserve. Hopefully we have these group of people with integrity to safe guard it and build up for our future
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation. In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead? In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending
@@leexianlong6855 Lets have a honest discussion and clear out some facts. The scenario you portrait understandably is what every Singaporean do not wish to see it happen. Corruptions or scandals can never be eliminated where ever you are in the world or whatever system you are using, that is a reality we have to face . As long there is human there will be this problem. The only thing we can do is to maintain the high integrity among the people holding the key position and to have a system to do all these checks. So i believe all these corruption cases or scandal are all being dealt with by our law or their own disciplinary action which indicates they do not condone these actions or behavior to cultivate in the system. It is not like they will being exempted from the justice if they are found guilty. The idea of revealing the reserve to the rest of the world should never be done for the interest of Singapore regardless whoever is the power, be it PAP or any opposition party. Singapore is at where it stands today in the world happens not just by talking politics. It happens by making majority of the decision favorable to our nation for us to stand as where we are today. Let's be realistic there is no perfect system or solution to every problem . I will still wake up everyday and appreciate the blessing and gains the leaders build as nation. Things don't happen out of nothing and i believe base on credentials they shown and built over the years, the trust given by the citizens is warranted. I am quite sure that Singaporean will be smart and brave enough to make the right decision if one day the system is not working anymore . For now i will say Thank you for the job well done
@@leexianlong6855 haha no Govt in works really saves n help citizens SAVE.. They save to keep themselves in power.. "Absolute power corrupts absolutely" Vote wisely to save selves..
Our forefathers were willing to work and grit their teeth in the tough times. But many citizens nowadays just want an easier life now, and the hell with the future.
A powerful speech, with clear explanations and convincing arguments. It's an inspirational to listen, such eloquence as well. Unfortunately a number of MPs are not in the house to listen to it first hand. Whether we agree with it - the 50-50 or 40-60 per cent - the most important consideration is prudence in spending and a fairness to all. Money is always not enough, or could be more, for many of us or the country. We must always have that reserves or resources to give us the confidence to live and look forward to the future for the country and the people. Keeping going, Singapore.
Singaporeans are indeed blessed to have very prudent, cautious, and pragmatic governance, something soooo many countries aspire to achieve but, sadly, failed.
Do it the prudent way. If not the current and the future generations of Singaporeans will suffer. Look at those countries that are bankrupting! See how much their people are suffering!
if you dare to circumvent the first time, there'll be 2nd, 3rd or more times in the future. So the line have to be drawn clear. Good or bad times, no circumvention. Be strict on the rule
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation. In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead? In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending
@@leexianlong6855 corruption cases exists in every countries just a matter of how bad it is and whether there's a system in place that can catch or prevent the worse from happening. You can't trust ppl, a good person can become bad due to temptations. if no such system in place, is a matter of time before a country get into trouble. If it's a democratic country, then the ppl will vote the govt out. If not, then perhaps a revolution, it must gets very bad before it happened. Politicians can be populist, but it will come back and haunt them one day. They'll wreck the country .Most countries addicted to debt now will one day go bankrupt, it won't perish but the ppl will suffer for a long time before it gets better. LKY build a solid foundation for Singapore during its early years where it is much easier to mould a country and its people, once past this golden period where the population has become much bigger and norms have been set in place, then nobody can do anything about it anymore. Credit to LKY for designing a nation and its people and of coz his capable lieutenants, he knows who to choose, someone with foresight. He designed a good constitution and system. Of coz he started from a blank slate. Is both easier and tougher. Constitution do evolve but it tend to evolve following the blueprint. The US has its good and bad too, very messy country
@@leexianlong6855 4th least corrupted country in the world and you say there is rampant corruption because of ONE major case. Keeping the amount a secret is no longer strategic? Why don't you share how much money you have in your bank account and you will see how people will treat you. Favours or whatnot. In addition, the reserves are managed by a group of people not just one person. To say that the money will be gone when we need it when it even requires the president's approval will be a monumental task to go unnoticed. Now you say that due to climate change , man made global conflict and of course diseases , we should be spending more on Singaporeans. It means last time during the Asian financial crisis and SARS and the 2008 global financial crisis if by going by your logic, we would be taking more money out than putting in. By doing that I don't think we would have enough for the next pandemic. And you say Singaporeans money is safest in Singaporeans hands?? Sorry you do know that we have the most scam victims in the world right?? It's so easy to say give money to Singaporeans, give money here and there. But if life is that easy, why do other countries not do that? Norway has the biggest reserves yet they don't splurge on their money. You are asking the government to give money when times are getting tougher and tougher. Yes to a point I agree that there should be policies to help but that doesn't mean we spend more than we need? It's like you want a 10k lifestyle with a 3k salary. Instead we need to figure ways to increase the reserves so there can be more disposable income to spend on the people. In addition , giving people money stimulates the economy and helps Singaporeans but at what cost? Government money is tax payers money and if you decide to help the people today means future generations may not enjoy the benefits or even have to suffer. Don't believe me? Look at Malaysia and what happened to their chicken , fuel , electricity subsidies. There's removal of them because the government is losing money. They have reserves but how long can it last? This will happen to Singapore albeit we will last longer if we spend more than we earn. And then who you will blame? Govt again.
@leexianlong6855 Having lived abroad, I can only tell you how fortunate we are to have d current govt. No govt is perfect, neither are the citizens. I'd rather see money be saved for a rainy day dan for it to be squandered by an entitled undeserving minority.
It is clear that the oppositions' only ability is to use more of our own savings meant for rainy days than to think about making more money externally. All they talk about is how to carve up the piggy bank. I almost never hear them discuss about innovative ways to be more competitive to make more money. Always come up with sob stories and excuse to spend more money we have set aside for emergencies. Look no further than Malaysia. One dumb move to let people touch their own piggy bank (EPF) now immediately got retirement crisis.
but let's also be clear that this motion is brought forward by PSP, and they do NOT represent all Opposition parties in SG. Clearly, there is a difference in quality amongst our Opp parties...
Listen to opposition until sian. Macam only they have a conscience. Take out money from reserves help this help that. Government didn't use reserves during pandemic ah? So easy to talk about how to spend, and spend more. LMW and PS, any suggestions on how to make more? Malaysia is broke now because of their neverending subsidies until no firepower left to even prop up the ringgit. Citizens have to ownself save ownself withdrawing their EPF now not enough money to retire.
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation. In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead? In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending
@leexianlong6855 You got like, 30% valid argument... but its alright! To each their own. One day, when covid or huge financial crash, you got retrenched and lose your job.. realised, you didn't save enough or you are no longer qualify for the usual jobs you do... don't come begging for help... cos... you don't trust govt
I am going to be 70 years old. I believe the country’s money reserve is solely the ruling government’s discretion. You do not need to tell others how much money you have saved for your family. It’s confidential. If you insist to know, have the brains to run the country. Don’t throw stones to score points.
I’m also very satisfied with PAP government’s performance. SG’s sovereign funds are in the Top 10 among oil-rich or bigger country-counterparts. That is really incredible. On the other hand, the Opposition politicians have every right to score points with any means. Crucially, it is individual Singaporeans who must analyse on their own and not be scammed by attention-seeking opportunistic Opposition politicians.
PAP is doing a good job guarding the reserve honestly. Oppo trying to score political points to draw down the reserve is not doing any good to the country
We are so fortunate to have a prudent govt that foresees the future and we are so grateful to Mr LKY and his team to build a prosperous spore . We do not want to take all these blessings for granted.
Many from overseas are so appreciative and envious of our good and honest government . We must not forget Mr LKY for all his vision , foresight and hardwork to build a prosperous and safe spore and for the present govt to continue his good work. We must work together. No one is perfect but unity is strength.
@@susane1950 you are right, that’s the past….except imho, the current G is somewhat different, and the oppo is doing exactly of not taking things for granted…
If Singapore start drawing more reserves and perpetual deficit spending indefinitely, your SGD will become like MYR very soon, mind you, you dont have natural resources like oil or gold!!
I don’t think the oppo is asking to draw on reserves perpetual indefinitely. I believe what they are Saying is that, if what LHL claimed that we are still making the returns, than spending on citizens is not wrong. Unless the G Knows we don’t have a lot of local bred citizens? Or mostly imported because of their FT policies? So, they doesn’t want to spend money on them? Really, no one can tell….
Logical explanation on usage and saving of our reserve with the 50-50 rule, the principle on when to draw reserves like covid and during financial crisis are sound and is the act of a responsible and prudent government.
@@martinmisty866 The opposition parties are either short-sighted or they say things that some people like to hear so that they can garner more votes in the next GE
Reserves are meant for emergencies not helping poor citizens. Don't know how make $$, eat simple..towgay fry with eggs with rice also can fill the hunger..
The problem is people don’t see how much the govt is doing. Everything taken for granted. That’s why kpkb like you. I like what the PAP said. We don’t have a safety net system. We have a trampoline system. Govt will help you get back on your feet. But you yourself need to put in effort too.
@ohleemartin7184 . This govt is doing the right thing by using the reserve prudently for rainy days n helping the less fortunate with its generated funds
@@TheManabopo I agree, there is a saying "One does not know what a good apple taste like if one does not have a rotten apple". IF you eat a good apple everyday you won't know you had it good as you never tasted a rotten apple.
Our lives are so good right now that productivity decreases. When the overall productivity decreases as a nation, it is natural that living cost rises / salary don't rise as much. Ask yourself whether you are willing to work 12 - 14 hour shifts under the hot sun. If you are not, then don't ask for a raise. Dont eye on the money which our forefathers saved for us. We earn our own money.
Agree. That's why the Chinese saying of "福不过三代" (prosperity doesn't get past 3 generations) is very real and our govt is trying very hard to prevent that. It is important not to only cater to voters needs but also to non voters needs. The opposition is only concerned about their party and what will make them popular. It is important to look past the party and do what is right, even though it may seem to harm your party or be unpopular. That's the hardest thing for a politician to do. Any politician who can do that has my vote.
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation. In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead? In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending.
I am a highly educated Singaporean and I have been living overseas for more than 36 years. Nonetheless, I am a product of the PAP government - proudly so! The wit and the integrity of the PAP government provided me with a great education and a strong work ethic. I have benefitted from the choices made by the PAP during my formative years in Singapore. Keep growing the reserve so that future Singaporeans can have the privileges that I received from the responsible PAP fore fathers.
I see... so your parents abandoned you or disowned you? You sound like PAP brought you up. So much so you went far away for 36 years and contributed so much for Singapore. 😂😅😂😂
@@harisomakantan6168 I was not abandoned but given wings to be all that I could be by my parents and the leadership of the PAP government. I attended elite schools and NUS and received scholarships to attain three additional degrees including a Law degree. I hold a highly paid job because Singapore and my parents taught me the value of being an independent and self-reliant individual; to be present in the moment and simultaneously future focus. My affection for Singapore and the PAP government is not based on party rhetoric but lived experience of the effectiveness of the PAP government to continuously deliver more than it promises election after election. To the haters of my initial post - if Singapore is so unpalatable than you should try living in a less spectacular country 😁
Maybe prime Minister Lee Hsien Loong should be able to thoroughly Dropping political domestic viewers on plungering the wonderful Ang Mo Kio Public viewers from Ang Mo Kio G.R.C😂!CNA!
“An inheritance gained hurriedly will not be blessed in the end.” Think twice, heck, thrice-thrice and more, if you want to go down that path.. personally, and nationally..
Kudos, Singapore. You boast a commendable leader-truly exceptional, adept at strategic thinking and efficient execution. Contrastingly, the disheartening state of affairs in Malaysia reflects a stark absence of such visionary leadership. Our leaders and politicians seem destined for mediocrity, steering the ship toward an inevitable descent into incompetence.
Singaporeans shouldn't need to worry too much how big their reserve should be, but rather who is in control of the trust fund .Fortunately you already have a PM who can think several steps ahead of most people and many leaders in managing Singapore's finances.
It is easy for opposition parties to do any proposal to gain political score point and think about it who ha been labouring to build our country’s next egg all these years. Why some people are so eager to emptied our country’s next eggs
Because they reason that expending the money will buy them the next elections. And the next, and the next. When catastrophe hit and they be booted out of office they will get to criticize the next government's efforts to fix the mess. And then be reelected. Win-win for them. THEY cannot lose. Who cares if Singapore loses? Cov cost 40B from the reserves. SG could have afforded 100B. Next time it may have to. In 20 years SG may have to RAISE THE WHOLE COUNTRY 10 feet or risk the higher sea level washing away the country. PAP can afford it. Lol, if they have to, they will probably raise the whole country 20 feet, just in case.
Financial crisis were and are usually manipulated by major financial group of ill intent people behind the scene. Currently the China and US have been undergoing finance warfare where China is protecting its economy from being manipulated. Malaysia had became financially collapsed in great debt due to manipulation collapsing its economy through stock investment warfare. Thus, having stronger financial reserves is essential in small country like Singapore, it is only enough when the world goes into barter trading through commodities rather than money 😅
Are the reserves audited and if so how often and does the company doing this independent in every form and manner and chosen through by a group of individuals with good references who do not hold any relationships or family ties with any Political entity or their families however near or distant. 2. How often are these carried out and are the results again audited and certified them as true and accurate with no concerns or reservations whatsoever. Members of the Public who show interest in wanting to know or doubts should be given the opportunity to attend the session and given some airtime to air their views and concerns as well
In the book Animal Farm, we read how the chickens and the ducks wanted milk added to their food, and everyone also wanted a share of the milk. Then the pigs told them such a trivial matter should not bother them. Just leave it with the pigs. The moral of the story is that it is not up to you to know how much is in the reserves. The pigs will take care of it.
Continue to guard what is right for the future generations. Opposition voices on the social media could be foreign countries trying to disrupt the decades of prosperity Singapore is enjoying or some self entitled strawberry generation who wants to take the easy way out.
This is the right way Singapore government how they earned and how they spent their money not only to look after their present generations as well as their future generations. Thanks to their late founder of Singapore Mr. Lee Kuan Yew.
NO government in the modern day can make an assessment for an unknown future. The amount you need in reserves is a conceptual idea, you actually need as much as you can get and not less.
Reserved of Singapore as small country cannot be enough because all countries in the world prefers wealth not enough, but it could be used it where necessary. There are three types of people in this world, one is creating to happen, second is watch it to happen and thirdly wonder it happen 😅
Opposition is to make Singapore a better and cleaner place. Not keep asking about reserves. The children are only helping out alittle towards the already well built family, yet they are asking for the amount of saving the parents and grandparents had built up. Sound ridiculous right?
I have a view eventually it will collapse and absorb by Malaysia in 300 years. No guarantee investments and jobs will come in when China, Vietnam, Malaysia improving day by day. No guarantee Krai canal won't be build to bypass Singapore shipping route. No guarantee Lawrence's successor and beyond will be as strong.
Really adore PM Lee's jacket. it reflects his stature & maturity but cool at the same time :) whoever his stylist is (if there is any), deserves a raise.
WHY ARE THE OPPOSITION SO EAGER AND ENTHUSIASTIC IN KNOWING THE SIZE OF THE RESERVES. OF COURSE, THE GOVERNMENT WHO HAVE BEEN RULING IN SINCE INDEPENDENCE AND SINCE SECESSION FROM MALAYSIA, have every right to not reveal is the right way and thing to do. So the Opposition should just be that, the opposition. If and when they succeed to form the Government, they will find out for themselves!!!!!!
Say Singapore’s total reserves amount to USD 1.75 trillion, risk free rate at 4% (US-Treasuries), GDP at USD 400bn with a growth rate in Singapore of 3%. Let me compare the return on reserves vs GDP growth. Return on reserves = 1.75tr x 4% = USD 70bn annually (= interest on reserves) GDP Growth = 400bn x 3% = USD 12bn (= Singapore economy is growing by USD 12bn annually) What we can see is that Singapore reserves are generating far significant returns (5.8x) compared to the growth of the economy. Excessive high reserves can indicate underutilisation of resources. It could be more beneficial to invest some of the excess (easily USD 30-40bn in our example above) into areas that generate long-term benefits and contribute to economic development. Such productive sectors could be: infrastructure, education & skills dev, technology (innovate and create new industries opportunities), healthcare, green initiatives. But in a nutshell, Singapore is doing a Great job.
We have to take very good example the PM of Singapore mr lee ......not those looters running in somalia. From towns to district is running by criminals!! Subxaanalaah.....war xageed u socotaan adeer akhiro miyaydan aamin sanayn ?
I used to think that Singapore is rich but we Singaporeans are poor. But now I realise all the luxury we have been enjoying, the clean streets, free education, healthcare, top class military and civil services are all paid for at a discounted rate because we have huge passive income. That makes me realise that we actually have been living like rich people.
The govt policies supporters tend to think about 'us', which explains why they are willing to endure some hardship for future gens. The oppie supporters tend to think about 'me', so policies should not allow 'me' to suffer. Just my broad way of seeing things.
Not wrong, Govt supporters is more about the "people" while opposition supporters are more western mindset that puts their selfish "me" into practices. Well the western world is full of "me" thinkers, see how they are doing now. You can't expect a society where everyone to care solely about themselves to thrive.
@LonganLee totally no comparison, sg isn't under oppie policies so there's no reason at all for me to leave sg. Your comment simply shows the lack of logic that many oppie supporters possess. You self own, I didn't do anything other than point it out
@@ivancen5020 you still not educated that you have no right to tell people to leave SG. Democracy is if I not happy with pap vote against. Opposition can still have their MPs even if not form the gov. You clearly proven you don't understand this democratic right I have. Without GRC you become the minority? Don't be a laughing stock to the world by saying all opposition should leave SG since they disapprove gov. You only show bigotry and dictatorship inclination. First you need to change SG constitution to disallow human rights to disapprove gov and democratic rights to kick gov out using the powers bestowed to vote them out under a system of democracy. Until then, you have no right
Well Done Singapore 🇸🇬… Why I say this as a malaysian is though not entirely perfect & no one nor no nation is, you have been & are Blessed to have leaders who were & are pragmatic, honest, resilient & dared to stand for truth, justice, righteousness, excellence & meritocracy… May you continue to be a shining beacon for all the world to see … Though many may deny it, but many in Malaysia too have desires to be as successful as Singapore someday … For our children & our children’s children ..,.
Having the reserve is one of the critical stabilizers of the country, it attracts foreign investment which helps create jobs for fellow Singaporeans. It attracts foreign talents who in turn make the companies here succeed in what they do, attracting more talents and companies. Like what PM Lee mentioned, we all have a duty to steward this precious resource
I hope or believe people in Singapore can learn lessons or what happened in other countries/areas. Lots of political parties, if not all, always try to lift the bars or loosen the regulations on those reserves, then they may use so-called "special budget" or similar approaches to increase the financial burden of the public sector or taxpayers - in a long-term perspective.
I may support pritam here in aljunied grc but I'm all with the pm on prudent policies regarding our resetves... Welfarism is seductive and should never ge given out freely.. We all have to pull our own weights..
It is when you have no more money in your savings, in your current account in anywhere else that you will understand the value of real reserves. In other words, this is the net net worth of anybody, any nation. And there are many broke nations around the world.
Yes Reserve should be Spent when Necessary.... But WP has requested the Singapore Government to distribute GIC Profits instead. Singapore Government spent part of Reserve on Covid-19 .... Being Approved by Former SG President Mdm Halimah.
Singapore has never learned the basics of and the basis for the uunparalled advancement of Singapore's socio economy. The future is bitter even worse. The operational expenses incurred shall always be beyond the real income based on industry and commerce dragging the finance matters to provide for the citizens down ever deeper into the negativite.
GST raised 9% ...can the government urge increases of food and others to 9% or less? All things gone up more than that ....even veg rice and coffeeshop food ...all increase like no body business
Are you sure ? if by what you are saying we should be experiencing GST of about 17& (8 + 9). Please improve on your comprehension before making a FOOL of yourself ! There are a lot of issues contributing to inflation, some due to high interest rate, and other external factors like higher shipping and production costs etc. Oh wait, your statement is meant to GASLIGHT !
NIRC = 20%1/5 annual budget spending = 3.5% GDP, MOF just sit there and wait for that amount to arrive -& Don't have to raise taxes don't have to collect fees, they just have to make sure Temasek GIC run properly & every year you should be able to get this 3.5% GDp from the NIRC, so anyone got any comment on this ???
Mr. Lee I am a bit about your worries. I appreciate that. Are you going to be fainted. Good luck. All the best 你們要存心謙虛，各人要看別人自強。 What would you do now to save Singapore ? 跟李生嘢。 Sincerely, Eric WongPoShun 王寶順。 依家洗濕咗個頭，點搞？！. .
Singapore has lost its way . A grave misstep . Going after their own minister and entrepreneurs in a flimsy manner is the Jack Ma moment of Sg. A slow and steady decay follows.
Talk so much about uncertainties but what have you done? Shouldn’t SG be strengthening her reserve? Why can’t we save 60% and spend 40%. We want to help the poor. WP has unified opposition supporters. We are ready to lift up every poor family members but PAP not ready. Our cockles are already boiling hot! We should just steeply increase taxes as long as we redistribute fairly to the underprivileged. 18% GST is nothing as long as we redistribute. How come never increase Service Charge? Our rich minsters unwilling to pay more for their cars, bungalows, restaurants dining…
NIRC= 3.5% GDP= corporate tax avenue = 1.4 times personnel income tax avenue =1.3 times GST Avenue; why is the need to raise GST to 9% from 3% from 7% previously? and the NIRC is only 50% half on income return yearly !! and is suggesting an idea of 18%GST? if the reserve has to be revealed!
We hope Mr Lee Hsien Loong will retain his position as Secretary General of PAP after he steps down as PM. The next general election is likely to be the worst for PAP since independence. The opposition, while retaining their current 10 seats, could win another 19 seats more, with PAP losing West Coast, East Coast, Nee Soon and Holland GRC. Lawrence Wong's Yew Tee GRC may see PAP 's votes fall below 55%. This GE scenario will delegitimise Lawrence Wong as PM, necessitating a replacement. This is why Mr Lee HL should retain the most powerful position in the party to help Singapore get out of the imbroglio. Mr Lee as PAP's General Secretary, together with Tharman, as the country's President, can work together to resolve the problem.
I am always for building more reserves, but I think what the opposition is trying to propose is to slow down the rate of accumulation of new reserves when the population is facing difficulties. This is not the same as drawing down on past reserves, or is it?
How slow is slow? We can’t control the pace of change (good or bad)…be real. That what LKY team has done and it benefited us and future generations. Thank PM!
Do they have enough statistics to prove how many people are suffering? Do they know the reason some people are suffering? They are merely generalising and taking the opportunity to show people that they have the heart for them and are speaking up for them.
@@yoyolexyDon’t know about the wider statistics but I was retrenched sometime back. Does that count? I thank Mr Leong for speaking for people like me. Better to speak up here than to put everything to the polls like what PM Lee suggested.
Slowing the accumulation means less reserves compared to if it was not slowed so it will be the same as spending reserves, in fact its worse its spending ahead. If you slow once, in future more proposals to slow will happen. Before you know it, the reserves are not growing enough, by then its too late. I feel the discipline to safeguard the reserve should remain
@@Diderot68It is unfortunate that you have been retrenched. So what are you expecting from the government? Didn't you save money for a rainy day like that? People must plan for themselves. There are people who spend like there's no tomorrow and start blaming the government for the rising cost of living and gst hike. I personally know two people who were retrenched immediately becoming private hire drivers. I also personally know a few people who have been retrenched, are not able to find another job of the same pay and position blaming the government and whining about foreign talents taking away their job. There is no doubt that there are foreign talents in Singapore but there are also many locals holding high level positions. If we are not one of those, we can only blame ourselves for not being capable enough.
Have we had new Oppo? Stop asking for money and dig Reserves. Please focus on allowing the people to build self resilience, not full reliance. Like a brag. Learn faster pls.
So many islands in Singapore region and yet none of them can use for manufacture & plant!!! Most of all Singaporeans university graduates cannot even become the head of an company mostly all are eurasian and American! This will not stayed long! Take for granted too long!
![[CNA Exclusive] PM Lee on reserves as a secret weapon - Pt 2/3 | Singapore Reserves Revealed](http://i.ytimg.com/vi/BKGU8ekFmRQ/mqdefault.jpg)
Thank you for the thoughtfulness and hard work building up our reserve. Hopefully we have these group of people with integrity to safe guard it and build up for our future
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation.
In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead?
In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending
@@leexianlong6855
Lets have a honest discussion and clear out some facts. The scenario you portrait understandably is what every Singaporean do not wish to see it happen. Corruptions or scandals can never be eliminated where ever you are in the world or whatever system you are using, that is a reality we have to face . As long there is human there will be this problem. The only thing we can do is to maintain the high integrity among the people holding the key position and to have a system to do all these checks.
So i believe all these corruption cases or scandal are all being dealt with by our law or their own disciplinary action which indicates they do not condone these actions or behavior to cultivate in the system. It is not like they will being exempted from the justice if they are found guilty.
The idea of revealing the reserve to the rest of the world should never be done for the interest of Singapore regardless whoever is the power, be it PAP or any opposition party.
Singapore is at where it stands today in the world happens not just by talking politics.
It happens by making majority of the decision favorable to our nation for us to stand as where we are today.
Let's be realistic there is no perfect system or solution to every problem .
I will still wake up everyday and appreciate the blessing and gains the leaders build as nation.
Things don't happen out of nothing and i believe base on credentials they shown and built over the years,
the trust given by the citizens is warranted. I am quite sure that Singaporean will be smart and brave enough to make the right decision if one day the system is not working anymore .
For now i will say Thank you for the job well done
@@leexianlong6855 haha no Govt in works really saves n help citizens SAVE..
They save to keep themselves in power..
"Absolute power corrupts absolutely"
Vote wisely to save selves..
Thank You President and Your Family for the love of God and this Country
Best gov in the world. Not perfect but prob the best. Thinking forward all thw time with so little resources
Our forefathers were willing to work and grit their teeth in the tough times. But many citizens nowadays just want an easier life now, and the hell with the future.
Good joke
A powerful speech, with clear explanations and convincing arguments. It's an inspirational to listen, such eloquence as well. Unfortunately a number of MPs are not in the house to listen to it first hand. Whether we agree with it - the 50-50 or 40-60 per cent - the most important consideration is prudence in spending and a fairness to all. Money is always not enough, or could be more, for many of us or the country. We must always have that reserves or resources to give us the confidence to live and look forward to the future for the country and the people. Keeping going, Singapore.
Singapore has performed well because of their sincere honest and far sighted leaders.
Singaporeans are indeed blessed to have very prudent, cautious, and pragmatic governance, something soooo many countries aspire to achieve but, sadly, failed.
when the government actually is competent and governs for the people instead of against the people
In your wildest dreams
Well, their president/prime Minister aren't paid millions
Do it the prudent way. If not the current and the future generations of Singaporeans will suffer. Look at those countries that are bankrupting! See how much their people are suffering!
if you dare to circumvent the first time, there'll be 2nd, 3rd or more times in the future. So the line have to be drawn clear. Good or bad times, no circumvention. Be strict on the rule
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation.
In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead?
In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending
@@leexianlong6855 corruption cases exists in every countries just a matter of how bad it is and whether there's a system in place that can catch or prevent the worse from happening. You can't trust ppl, a good person can become bad due to temptations. if no such system in place, is a matter of time before a country get into trouble. If it's a democratic country, then the ppl will vote the govt out. If not, then perhaps a revolution, it must gets very bad before it happened. Politicians can be populist, but it will come back and haunt them one day. They'll wreck the country .Most countries addicted to debt now will one day go bankrupt, it won't perish but the ppl will suffer for a long time before it gets better. LKY build a solid foundation for Singapore during its early years where it is much easier to mould a country and its people, once past this golden period where the population has become much bigger and norms have been set in place, then nobody can do anything about it anymore. Credit to LKY for designing a nation and its people and of coz his capable lieutenants, he knows who to choose, someone with foresight. He designed a good constitution and system. Of coz he started from a blank slate. Is both easier and tougher. Constitution do evolve but it tend to evolve following the blueprint. The US has its good and bad too, very messy country
@@leexianlong6855 4th least corrupted country in the world and you say there is rampant corruption because of ONE major case. Keeping the amount a secret is no longer strategic? Why don't you share how much money you have in your bank account and you will see how people will treat you. Favours or whatnot. In addition, the reserves are managed by a group of people not just one person. To say that the money will be gone when we need it when it even requires the president's approval will be a monumental task to go unnoticed.
Now you say that due to climate change , man made global conflict and of course diseases , we should be spending more on Singaporeans. It means last time during the Asian financial crisis and SARS and the 2008 global financial crisis if by going by your logic, we would be taking more money out than putting in. By doing that I don't think we would have enough for the next pandemic. And you say Singaporeans money is safest in Singaporeans hands?? Sorry you do know that we have the most scam victims in the world right??
It's so easy to say give money to Singaporeans, give money here and there. But if life is that easy, why do other countries not do that? Norway has the biggest reserves yet they don't splurge on their money. You are asking the government to give money when times are getting tougher and tougher. Yes to a point I agree that there should be policies to help but that doesn't mean we spend more than we need? It's like you want a 10k lifestyle with a 3k salary. Instead we need to figure ways to increase the reserves so there can be more disposable income to spend on the people.
In addition , giving people money stimulates the economy and helps Singaporeans but at what cost? Government money is tax payers money and if you decide to help the people today means future generations may not enjoy the benefits or even have to suffer. Don't believe me? Look at Malaysia and what happened to their chicken , fuel , electricity subsidies. There's removal of them because the government is losing money. They have reserves but how long can it last? This will happen to Singapore albeit we will last longer if we spend more than we earn. And then who you will blame? Govt again.
@leexianlong6855 Having lived abroad, I can only tell you how fortunate we are to have d current govt. No govt is perfect, neither are the citizens. I'd rather see money be saved for a rainy day dan for it to be squandered by an entitled undeserving minority.
@@marktan8074
Question is where you lived overseas!
I have heard this argument again and again and it has no merit.
It is clear that the oppositions' only ability is to use more of our own savings meant for rainy days than to think about making more money externally. All they talk about is how to carve up the piggy bank. I almost never hear them discuss about innovative ways to be more competitive to make more money. Always come up with sob stories and excuse to spend more money we have set aside for emergencies. Look no further than Malaysia. One dumb move to let people touch their own piggy bank (EPF) now immediately got retirement crisis.
but let's also be clear that this motion is brought forward by PSP, and they do NOT represent all Opposition parties in SG. Clearly, there is a difference in quality amongst our Opp parties...
@@ScreenEditor uh...WP also talking about using reserves before PSP leh.
Listen to opposition until sian. Macam only they have a conscience. Take out money from reserves help this help that. Government didn't use reserves during pandemic ah? So easy to talk about how to spend, and spend more. LMW and PS, any suggestions on how to make more? Malaysia is broke now because of their neverending subsidies until no firepower left to even prop up the ringgit. Citizens have to ownself save ownself withdrawing their EPF now not enough money to retire.
Excellent Government
Responsible government. Thanks PM for the explanation.
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation.
In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead?
In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending
@leexianlong6855
You got like, 30% valid argument... but its alright! To each their own.
One day, when covid or huge financial crash, you got retrenched and lose your job.. realised, you didn't save enough or you are no longer qualify for the usual jobs you do... don't come begging for help... cos... you don't trust govt
Wat did he explain?
The “People Elected President” ?????
I am going to be 70 years old. I believe the country’s money reserve is solely the ruling government’s discretion. You do not need to tell others how much money you have saved for your family. It’s confidential. If you insist to know, have the brains to run the country. Don’t throw stones to score points.
I’m also very satisfied with PAP government’s performance. SG’s sovereign funds are in the Top 10 among oil-rich or bigger country-counterparts. That is really incredible. On the other hand, the Opposition politicians have every right to score points with any means. Crucially, it is individual Singaporeans who must analyse on their own and not be scammed by attention-seeking opportunistic Opposition politicians.
PAP is doing a good job guarding the reserve honestly. Oppo trying to score political points to draw down the reserve is not doing any good to the country
@@oyu7505 Guarding reserve is of course very important, else SGD may end up like ringgit.
Actually, it cannot be revealed else capitalists know how much they need to take out a country as Soros did for Thailand, HK, Malaysia.
70 ? Senile already?
We are so fortunate to have a prudent govt that foresees the future and we are so grateful to Mr LKY and his team to build a prosperous spore . We do not want to take all these blessings for granted.
😂 ghost
Many from overseas are so appreciative and envious of our good and honest government . We must not forget Mr LKY for all his vision , foresight and hardwork to build a prosperous and safe spore and for the present govt to continue his good work. We must work together. No one is perfect but unity is strength.
@@susane1950 you are right, that’s the past….except imho, the current G is somewhat different, and the oppo is doing exactly of not taking things for granted…
If Singapore start drawing more reserves and perpetual deficit spending indefinitely, your SGD will become like MYR very soon, mind you, you dont have natural resources like oil or gold!!
Malaysia has oil also not enough!! 😂
🤣😂🤣😂🤣 when did u ditch yr country to come to Singapore? 🤣😂🤣🤣🤣 current PM has been digging into reserves so many times, u dont know?😂
MYR decline is because of corruption!
I don’t think the oppo is asking to draw on reserves perpetual indefinitely. I believe what they are Saying is that, if what LHL claimed that we are still making the returns, than spending on citizens is not wrong.
Unless the G Knows we don’t have a lot of local bred citizens? Or mostly imported because of their FT policies? So, they doesn’t want to spend money on them? Really, no one can tell….
This is how a government should manages their public funds. Congrats Singapore, well done.
good physical, 40 min non stop, clear speaking, damn bro
Congratulations❣⛪❣Happy Singapore President thank You Mr President and Family God for Everything We love Your God bless Singapore🎉
Logical explanation on usage and saving of our reserve with the 50-50 rule, the principle on when to draw reserves like covid and during financial crisis are sound and is the act of a responsible and prudent government.
Heng ah, we have PAP, none of the ministry have proliferate spending so far. Thus no tax increase so far, everything so affordable,
GST increase?
Sound like sarcasm 😅
I wish we could have wise and skilled politicians with a long term vision like him in Belgium… what a world of difference!
Wish same thing here in Canada!
@@eduardoking8402 time to vote Poilievre
Thank you 🙏 😊
Cannot compare … totally different environment and situation….
The reserve should be for dire days, not because live is more difficult or unemployment is higher.
You mean dire days for the rich?
How come the opposition always want to raid PAP's reserves? Do they think about the future of Singapore?
@@martinmisty866in what way is the government raiding the reserves?
@@martinmisty866it’s either you didn’t watch the video or you don’t understand what was explained at all
Guys. Martin is a paid stirrer bot. Don't engage. He has posted garbage within 5 mins of a political video coming out consistently for years.
@@martinmisty866did you even go through the whole video ?
@@martinmisty866 The opposition parties are either short-sighted or they say things that some people like to hear so that they can garner more votes in the next GE
Reserves are meant for emergencies not helping poor citizens. Don't know how make $$, eat simple..towgay fry with eggs with rice also can fill the hunger..
That is what is wrong with the opposition and not this government.
@@ohleemartin7184are you sad no one is buying your BS?
The problem is people don’t see how much the govt is doing. Everything taken for granted. That’s why kpkb like you.
I like what the PAP said. We don’t have a safety net system. We have a trampoline system.
Govt will help you get back on your feet. But you yourself need to put in effort too.
@ohleemartin7184 . This govt is doing the right thing by using the reserve prudently for rainy days n helping the less fortunate with its generated funds
@@TheManabopo I agree, there is a saying "One does not know what a good apple taste like if one does not have a rotten apple". IF you eat a good apple everyday you won't know you had it good as you never tasted a rotten apple.
Our lives are so good right now that productivity decreases. When the overall productivity decreases as a nation, it is natural that living cost rises / salary don't rise as much.
Ask yourself whether you are willing to work 12 - 14 hour shifts under the hot sun. If you are not, then don't ask for a raise.
Dont eye on the money which our forefathers saved for us. We earn our own money.
Let's do it together we can make it!
Just let the WP know what is up with reserves... They deserve to know as they have been in parliment for such a long time
Thank you, PM! Respect!
😂
We have the right PM and the right party to safe guard Spore
Right ? 😂
YesSinceritylySingaporeAlmightyly💪👍🌟💪👍🌟💪👍🌟
Grandfather saved a lot, father too saved a lot, children too learn to save but enough, now grandchildren want to spend more and save less.
Agree. That's why the Chinese saying of "福不过三代" (prosperity doesn't get past 3 generations) is very real and our govt is trying very hard to prevent that.
It is important not to only cater to voters needs but also to non voters needs. The opposition is only concerned about their party and what will make them popular.
It is important to look past the party and do what is right, even though it may seem to harm your party or be unpopular. That's the hardest thing for a politician to do. Any politician who can do that has my vote.
LHL's history lesson on how Singapore's reserve worked in the past and using it to justify excess savings for the future is invalid. In the past, ministers and government officials were mostly "white" under LKY. In the present, corruption is rampant under LHL. Corruption can be seen everywhere from Cabinet minister(allegedly for now), SPF, SCDF, NLB, LTA, and the list goes on. Singaporeans do not want to be in a position where they save diligently for rainy days, but only to realize the money is gone when crisis hits. Keeping the amount of reserve a secret is no longer strategic to prevent an "attack" on the reserve, but a risk to be borne by all Singaporeans that some corrupt government officials may "raid" the reserve for their own benefit through corruption or outright misappropriation.
In addition, many other factors justify the need for more spending today. From the lack of climate change action, low fertility rate, man made global conflict, to rampant corruption in the PAP government. Any of these events can have irreversible impact on society, thus invalidating the need for long term savings. What is the use of having so much reserve if we're all dead?
In summary, Singaporeans' money is safest in Singaporeans' pocket. Each one of us can best decide on how to best spend our own money to maximize utility. Do not trust PAP. Do not vote PAP. Vote for opposition if they campaign on constitutional changes and increase government spending.
@@leexianlong6855 Another bot
@@leexianlong6855is past performance a guarantee of future from father to son?😅
@@LonganLee it's critical question..
I am a highly educated Singaporean and I have been living overseas for more than 36 years. Nonetheless, I am a product of the PAP government - proudly so! The wit and the integrity of the PAP government provided me with a great education and a strong work ethic. I have benefitted from the choices made by the PAP during my formative years in Singapore. Keep growing the reserve so that future Singaporeans can have the privileges that I received from the responsible PAP fore fathers.
Ya lor. Mee too. If elections abolished can we not have a better Singapore under no-election, one party only rule?
Haha, the rhetorics are glaring
I see... so your parents abandoned you or disowned you?
You sound like PAP brought you up.
So much so you went far away for 36 years and contributed so much for Singapore. 😂😅😂😂
@@harisomakantan6168 I was not abandoned but given wings to be all that I could be by my parents and the leadership of the PAP government. I attended elite schools and NUS and received scholarships to attain three additional degrees including a Law degree. I hold a highly paid job because Singapore and my parents taught me the value of being an independent and self-reliant individual; to be present in the moment and simultaneously future focus. My affection for Singapore and the PAP government is not based on party rhetoric but lived experience of the effectiveness of the PAP government to continuously deliver more than it promises election after election. To the haters of my initial post - if Singapore is so unpalatable than you should try living in a less spectacular country 😁
I am sorry that you are obtuse 😂@@harisomakantan6168
Mr Lee reflects my sentiments exactly!
Maybe prime Minister Lee Hsien Loong should be able to thoroughly Dropping political domestic viewers on plungering the wonderful Ang Mo Kio Public viewers from Ang Mo Kio G.R.C😂!CNA!
A Great President ❤🎉❤
“An inheritance gained hurriedly will not be blessed in the end.”
Think twice, heck, thrice-thrice and more, if you want to go down that path.. personally, and nationally..
Kudos, Singapore. You boast a commendable leader-truly exceptional, adept at strategic thinking and efficient execution. Contrastingly, the disheartening state of affairs in Malaysia reflects a stark absence of such visionary leadership. Our leaders and politicians seem destined for mediocrity, steering the ship toward an inevitable descent into incompetence.
You get what you vote for.
Singaporeans shouldn't need to worry too much how big their reserve should be, but rather who is in control of the trust fund .Fortunately you already have a PM who can think several steps ahead of most people and many leaders in managing Singapore's finances.
Why need elections then?😅
The Majority Allowing and Complying is Amazing🤭🤝👏👏👏🤣🤣🤣
It is easy for opposition parties to do any proposal to gain political score point and think about it who ha been labouring to build our country’s next egg all these years. Why some people are so eager to emptied our country’s next eggs
Because they reason that expending the money will buy them the next elections. And the next, and the next. When catastrophe hit and they be booted out of office they will get to criticize the next government's efforts to fix the mess. And then be reelected. Win-win for them. THEY cannot lose. Who cares if Singapore loses? Cov cost 40B from the reserves. SG could have afforded 100B. Next time it may have to. In 20 years SG may have to RAISE THE WHOLE COUNTRY 10 feet or risk the higher sea level washing away the country. PAP can afford it. Lol, if they have to, they will probably raise the whole country 20 feet, just in case.
Financial crisis were and are usually manipulated by major financial group of ill intent people behind the scene. Currently the China and US have been undergoing finance warfare where China is protecting its economy from being manipulated. Malaysia had became financially collapsed in great debt due to manipulation collapsing its economy through stock investment warfare. Thus, having stronger financial reserves is essential in small country like Singapore, it is only enough when the world goes into barter trading through commodities rather than money 😅
Yup having a reserve well guarded is like being on a ship with engine power to stear clear of storms.
Malaysia is screwed.. Good for us
Are the reserves audited and if so how often and does the company doing this independent in every form and manner and chosen through by a group of individuals with good references who do not hold any relationships or family ties with any Political entity or their families however near or distant.
2. How often are these carried out and are the results again audited and certified them as true and accurate with no concerns or reservations whatsoever.
Members of the Public who show interest in wanting to know or doubts should be given the opportunity to attend the session and given some airtime to air their views and concerns as well
In the book Animal Farm, we read how the chickens and the ducks wanted milk added to their food, and everyone also wanted a share of the milk. Then the pigs told them such a trivial matter should not bother them. Just leave it with the pigs. The moral of the story is that it is not up to you to know how much is in the reserves. The pigs will take care of it.
Well argued debate.
The people of the world should be conscious about who they vote to managed their livelihood for a decent life.
Yes! cannot anyhow spend la..
A True ❤ Singapore President
Continue to guard what is right for the future generations. Opposition voices on the social media could be foreign countries trying to disrupt the decades of prosperity Singapore is enjoying or some self entitled strawberry generation who wants to take the easy way out.
we have to trust our government on the reserve... Letting others know how rich we are would be ridiculous...
This is the right way Singapore government how they earned and how they spent their money not only to look after their present generations as well as their future generations. Thanks to their late founder of Singapore Mr. Lee Kuan Yew.
NO government in the modern day can make an assessment for an unknown future. The amount you need in reserves is a conceptual idea, you actually need as much as you can get and not less.
Reserved of Singapore as small country cannot be enough because all countries in the world prefers wealth not enough, but it could be used it where necessary. There are three types of people in this world, one is creating to happen, second is watch it to happen and thirdly wonder it happen 😅
I thank GOD for the PAP. We the citizens of Singapore are very blessed to be a blessing. 😊❤
Great speech
Opposition is to make Singapore a better and cleaner place. Not keep asking about reserves. The children are only helping out alittle towards the already well built family, yet they are asking for the amount of saving the parents and grandparents had built up. Sound ridiculous right?
*YES OF COURSE *BLESSINGS 👼🙏❤HOD SIR*
Greatest President of Singapore❣⛪❣We loves you Mr President
That’s why Singapore will always peace and prosperity for a thousand years and beyond !❤🎉
😂
Lmao
I have a view eventually it will collapse and absorb by Malaysia in 300 years. No guarantee investments and jobs will come in when China, Vietnam, Malaysia improving day by day. No guarantee Krai canal won't be build to bypass Singapore shipping route. No guarantee Lawrence's successor and beyond will be as strong.
I support what the PM says!!
Really adore PM Lee's jacket. it reflects his stature & maturity but cool at the same time :) whoever his stylist is (if there is any), deserves a raise.
WHY ARE THE OPPOSITION SO EAGER AND ENTHUSIASTIC IN KNOWING THE SIZE OF THE RESERVES. OF COURSE, THE GOVERNMENT WHO HAVE BEEN RULING IN SINCE INDEPENDENCE AND SINCE SECESSION FROM MALAYSIA, have every right to not reveal is the right way and thing to do.
So the Opposition should just be that, the opposition. If and when they succeed to form the Government, they will find out for themselves!!!!!!
Say Singapore’s total reserves amount to USD 1.75 trillion, risk free rate at 4% (US-Treasuries), GDP at USD 400bn with a growth rate in Singapore of 3%. Let me compare the return on reserves vs GDP growth.
Return on reserves = 1.75tr x 4% = USD 70bn annually (= interest on reserves)
GDP Growth = 400bn x 3% = USD 12bn (= Singapore economy is growing by USD 12bn annually)
What we can see is that Singapore reserves are generating far significant returns (5.8x) compared to the growth of the economy. Excessive high reserves can indicate underutilisation of resources. It could be more beneficial to invest some of the excess (easily USD 30-40bn in our example above) into areas that generate long-term benefits and contribute to economic development. Such productive sectors could be: infrastructure, education & skills dev, technology (innovate and create new industries opportunities), healthcare, green initiatives.
But in a nutshell, Singapore is doing a Great job.
Which of your eyes independently audited? The left or right one?😅
History lesson ❤
We have to take very good example the PM of Singapore mr lee ......not those looters running in somalia.
From towns to district is running by criminals!!
Subxaanalaah.....war xageed u socotaan adeer akhiro miyaydan aamin sanayn ?
I used to think that Singapore is rich but we Singaporeans are poor. But now I realise all the luxury we have been enjoying, the clean streets, free education, healthcare, top class military and civil services are all paid for at a discounted rate because we have huge passive income. That makes me realise that we actually have been living like rich people.
Being the richest man of Haiti is being poor. Lol, live in Singapore and make as much as the PM and you will be RICH.
The govt policies supporters tend to think about 'us', which explains why they are willing to endure some hardship for future gens. The oppie supporters tend to think about 'me', so policies should not allow 'me' to suffer. Just my broad way of seeing things.
Not wrong, Govt supporters is more about the "people" while opposition supporters are more western mindset that puts their selfish "me" into practices. Well the western world is full of "me" thinkers, see how they are doing now. You can't expect a society where everyone to care solely about themselves to thrive.
You not happy with oppie LEAVE SG lah. Just kidding lah . I won't think the same way you do
@LonganLee totally no comparison, sg isn't under oppie policies so there's no reason at all for me to leave sg. Your comment simply shows the lack of logic that many oppie supporters possess. You self own, I didn't do anything other than point it out
@@ivancen5020 you still not educated that you have no right to tell people to leave SG. Democracy is if I not happy with pap vote against. Opposition can still have their MPs even if not form the gov. You clearly proven you don't understand this democratic right I have. Without GRC you become the minority? Don't be a laughing stock to the world by saying all opposition should leave SG since they disapprove gov. You only show bigotry and dictatorship inclination. First you need to change SG constitution to disallow human rights to disapprove gov and democratic rights to kick gov out using the powers bestowed to vote them out under a system of democracy. Until then, you have no right
Well Done Singapore 🇸🇬…
Why I say this as a malaysian is though not entirely perfect & no one nor no nation is, you have been & are Blessed to have leaders who were & are pragmatic, honest, resilient & dared to stand for truth, justice, righteousness, excellence & meritocracy…
May you continue to be a shining beacon for all the world to see …
Though many may deny it, but many in Malaysia too have desires to be as successful as Singapore someday …
For our children & our children’s children ..,.
如今可不同咯～～！is me Andy!😊😂
Singapore is a slap on the face to Malaysia. If with so little they manage to do so much, how much better should Malaysia be? Why isn't it?
Having the reserve is one of the critical stabilizers of the country, it attracts foreign investment which helps create jobs for fellow Singaporeans. It attracts foreign talents who in turn make the companies here succeed in what they do, attracting more talents and companies. Like what PM Lee mentioned, we all have a duty to steward this precious resource
Uh.. u mean import FT? CECA?
he didnt mention about natural disasters, so if one day if singapore is vanished from flood, will you please send all reserves to malaysia pls..
I hope or believe people in Singapore can learn lessons or what happened in other countries/areas. Lots of political parties, if not all, always try to lift the bars or loosen the regulations on those reserves, then they may use so-called "special budget" or similar approaches to increase the financial burden of the public sector or taxpayers - in a long-term perspective.
If we order vaccine before safety test , we should ask ourselves why
singaporean leaders are smart managing revenue
and here malaysian still argue about which race need to run the government.
Lol, he is RIGHT, it is such a luxury to be debating about this.
If I were to run the government I’ll save up as much as possible and then buy over Malaysia.
Given the way things are going it is not impossible that at least a part of Malaysia be available for sale...
I may support pritam here in aljunied grc but I'm all with the pm on prudent policies regarding our resetves... Welfarism is seductive and should never ge given out freely.. We all have to pull our own weights..
A wonderful place to live! 😍
@@ohleemartin7184 Bro then why are you still here take a chance living overseas! Dont come back though 😜
@@ohleemartin7184you opp rubbish
It is when you have no more money in your savings, in your current account in anywhere else that you will understand the value of real reserves. In other words, this is the net net worth of anybody, any nation.
And there are many broke nations around the world.
The US is 35T in debt.
Opposition is very smart to want to save money and invest our savings to grow our reserves to cope with future crisis. Great wisdom.
We trust that you understand why people do not trust trusting what they do not understand.
Just look at your neighbours, and you can learn valuable lessons.
How much is enough or no amount of reserves are enough as it seems according to P M !!!!
Discrimination against older workers and Singaporean workers is a significant concern in many societies in Singapore.
If CPF interest rates have factored inflation in, all workers should be able live comfortably when they retire.
Why your nick is liar?😅 Not I say one. Your name say
The PAP could raise gst to 20 per cent as he said. Then he could see what he will get.
Which is why it isn't.
Gives this man a break already. Singapore need new generation leader to step up. Almost felt pity for him to work at this age.
Yes
Reserve should be Spent when Necessary.... But WP has requested the Singapore Government to distribute GIC Profits instead.
Singapore Government spent part of Reserve on Covid-19 .... Being Approved by Former SG President Mdm Halimah.
Singapore has never learned the basics of and the basis for the uunparalled advancement of Singapore's socio economy. The future is bitter even worse. The operational expenses incurred shall always be beyond the real income based on industry and commerce dragging the finance matters to provide for the citizens down ever deeper into the negativite.
GST raised 9% ...can the government urge increases of food and others to 9% or less? All things gone up more than that ....even veg rice and coffeeshop food ...all increase like no body business
Are you sure ? if by what you are saying we should be experiencing GST of about 17& (8 + 9). Please improve on your comprehension before making a FOOL of yourself ! There are a lot of issues contributing to inflation, some due to high interest rate, and other external factors like higher shipping and production costs etc.
Oh wait, your statement is meant to GASLIGHT !
Coffee from $1.20 and to $1.60 for some hawkers or food courts....pls calculate and see
❤️❤️❤️👍👍👍
NIRC = 20%1/5 annual budget spending = 3.5% GDP, MOF just sit there and wait for that amount to arrive -& Don't have to raise taxes don't have to collect fees, they just have to make sure Temasek GIC run properly & every year you should be able to get this 3.5% GDp from the NIRC, so anyone got any comment on this ???
Mr. Lee
I am a bit about your worries.
I appreciate that.
Are you going to be fainted.
Good luck.
All the best
你們要存心謙虛，各人要看別人自強。
What would you do now to save Singapore ?
跟李生嘢。
Sincerely,
Eric WongPoShun 王寶順。
依家洗濕咗個頭，點搞？！.
.
Singaporean is so lucky to have a PAP government...
Hopefully he understands what the PM is saying, without a solid Maths or Economics foundation.
Singapore has lost its way . A grave misstep . Going after their own minister and entrepreneurs in a flimsy manner is the Jack Ma moment of Sg. A slow and steady decay follows.
agree. if the me mentality take hold in singapore, as shown by almost all the anti-establishment people. singapore is finished.
Talk so much about uncertainties but what have you done? Shouldn’t SG be strengthening her reserve? Why can’t we save 60% and spend 40%.
We want to help the poor. WP has unified opposition supporters. We are ready to lift up every poor family members but PAP not ready.
Our cockles are already boiling hot! We should just steeply increase taxes as long as we redistribute fairly to the underprivileged. 18% GST is nothing as long as we redistribute. How come never increase Service Charge?
Our rich minsters unwilling to pay more for their cars, bungalows, restaurants dining…
I thought only kids show their hand at a card game. Are our opposition MPs still wearing nappies? How to look after us?
that is correct, if a kid play poker at a casino while showing their hand and against a skilled ruthless adult is bound to lose.
NIRC= 3.5% GDP= corporate tax avenue = 1.4 times personnel income tax avenue =1.3 times GST Avenue; why is the need to raise GST to 9% from 3% from 7% previously? and the NIRC is only 50% half on income return yearly !! and is suggesting an idea of 18%GST? if the reserve has to be revealed!
We hope Mr Lee Hsien Loong will retain his position as Secretary General of PAP after he steps down as PM. The next general election is likely to be the worst for PAP since independence. The opposition, while retaining their current 10 seats, could win another 19 seats more, with PAP losing West Coast, East Coast, Nee Soon and Holland GRC. Lawrence Wong's Yew Tee GRC may see PAP 's votes fall below 55%. This GE scenario will delegitimise Lawrence Wong as PM, necessitating a replacement. This is why Mr Lee HL should retain the most powerful position in the party to help Singapore get out of the imbroglio. Mr Lee as PAP's General Secretary, together with Tharman, as the country's President, can work together to resolve the problem.
I am always for building more reserves, but I think what the opposition is trying to propose is to slow down the rate of accumulation of new reserves when the population is facing difficulties. This is not the same as drawing down on past reserves, or is it?
How slow is slow? We can’t control the pace of change (good or bad)…be real. That what LKY team has done and it benefited us and future generations. Thank PM!
Do they have enough statistics to prove how many people are suffering? Do they know the reason some people are suffering? They are merely generalising and taking the opportunity to show people that they have the heart for them and are speaking up for them.
@@yoyolexyDon’t know about the wider statistics but I was retrenched sometime back. Does that count? I thank Mr Leong for speaking for people like me. Better to speak up here than to put everything to the polls like what PM Lee suggested.
Slowing the accumulation means less reserves compared to if it was not slowed so it will be the same as spending reserves, in fact its worse its spending ahead.
If you slow once, in future more proposals to slow will happen. Before you know it, the reserves are not growing enough, by then its too late.
I feel the discipline to safeguard the reserve should remain
@@Diderot68It is unfortunate that you have been retrenched. So what are you expecting from the government? Didn't you save money for a rainy day like that? People must plan for themselves. There are people who spend like there's no tomorrow and start blaming the government for the rising cost of living and gst hike. I personally know two people who were retrenched immediately becoming private hire drivers. I also personally know a few people who have been retrenched, are not able to find another job of the same pay and position blaming the government and whining about foreign talents taking away their job. There is no doubt that there are foreign talents in Singapore but there are also many locals holding high level positions. If we are not one of those, we can only blame ourselves for not being capable enough.
Have we had new Oppo? Stop asking for money and dig Reserves. Please focus on allowing the people to build self resilience, not full reliance. Like a brag.
Learn faster pls.
Hello when will pur salary increase? GST 9% is very scary nowdays
Hello, go tell your boss, ask him for increase
lol@@jeny7177
So many islands in Singapore region and yet none of them can use for manufacture & plant!!! Most of all Singaporeans university graduates cannot even become the head of an company mostly all are eurasian and American! This will not stayed long! Take for granted too long!
Hope the CE and the FS learn of it as well as apply to the budget for Hong Kong.