SEPTEMBER 6 — Singapore’s 14th Parliament kicked off its term last week with the President’s address.
We also saw Pritam Singh as Singapore’s first official Leader of the Opposition given the chance to question government policy and his remarks and the government’s responses provided the first real debate of the new parliament. To this, Pritam said the Opposition was not interested in drawing down the reserves but was interested in more transparency and perhaps spending a greater proportion of the interest and capital earned from the reserves.
The money in MAS, Temasek and GIC belongs to the Singapore government and therefore to the citizens of Singapore but the exact extent of the holdings is not disclosed to the public. I understand Singapore as a small strategically positioned nation has unique attributes — but why shouldn’t we be open about our reserves?
And if the amount held really can’t be divulged to the public surely it can be discussed with the Leader of the Opposition.
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