SINGAPORE: The considerations for unlocking Singapore's past reserves include how the funds will be used to benefit the people and the nature of the crisis at hand, the three presidential candidates said on Monday (Aug 28) night. In a
SINGAPORE: The considerations for unlocking Singapore's past reserves include how the funds will be used to benefit the people and the nature of the crisis at hand, the three presidential candidates said on Monday night., Mr Ng Kok Song, Mr Tharman Shanmugaratnam and Mr Tan Kin Lian were asked about the factors they would consider"beyond what the government tells you" before unlocking the reserves.
Mr Tan, the 75-year-old former NTUC Income chief, said he would consider whether the use of the reserves is in the interests of the people, and whether it is a"proper" use of the money. Mr Ng, former chief investment officer of GIC, said it was critical to understand that the past reserves"should benefit present generations of Singaporeans as well as future generations".Mr Ng said that he would want to know the total size of the reserves and how much the government is asking to spend, as well as the government's assumptions about the expected future returns on the reserves and how that compares with historical rates of return.
"Is this for the short term, or is this a crisis where we can't actually see the end of the crisis?" he said."The second key to allow for the reserves to be used is useful only where you cannot see the end of the crisis and you can't see the bottom to the crisis."MORE INCLUSIVE, COMPASSIONATE SOCIETY
"I would also like to see a more inclusive society as embracing everyone who lives in Singapore, for example migrant workers, our domestic helpers." Mr Tharman said that building a fairer and more inclusive society has been his"whole life purpose" since he was a student activist through his time in public service.
Mr Tan said he would have"an independent mind" and critically examine each recommendation from the government on the use of past reserves and appointment of key public office holders. Mr Tan added that he shares a similar goal with the government to make life better for Singaporeans, and that he will work with the government to this end.
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