Talking like double-headed snake K Shanmugam, Minister of National Development Lawrence Wong openly engaged in political hogwash in Parliament today (Mar 6) claiming that Singaporeans received S$7.7 billion instead of only S$700 million in cash payout. The PAP Minister lied that the government is “giving back” to Singaporeans when the money was instead spent on infrastructures and subsidies.
“The entire additional S$7.7 billion above the official estimate is being given back to Singaporeans in various ways, instead of just the S$700 million SG bonus. We don’t save surpluses. We give them all back to Singaporeans but we give back in different forms. Some will be for spending on future needs. Some will be spending for current needs… and some will be through a direct transfer, like the SG bonus. Singaporeans must view the surplus in totality. The setting aside of S$5 billion for a Rail Infrastructure Fund “which will benefit all MRT commuters”, and S$2 billion for premium subsidies and other forms of support when the ElderShield review is complete. These premium subsidies for lower- and middle-income Singaporeans will ensure that the enhanced ElderShield scheme remains affordable and the premium subsidies will directly benefit these individuals and their families. As such, the SG bonus, which distributes up to S$300 each for all Singaporeans aged 21 and above this year, should not be viewed in isolation.”
Minister Lawrence Wong then praised that the government for going into debts and resorting to borrowing, saying Singapore will “borrow for the right projects”:
“The government’s overall funding approach and stressed that even as it considers borrowing for certain major infrastructure projects, we will do so prudently and on a selective basis. This means that we will borrow for the right projects, namely those that generate adequate future revenue streams to repay the borrowing, said Mr Wong. One example would be the Changi Airport Terminal 5. If we are not careful and selective in borrowing, we may end up over-burdening ourselves with rising interest costs and that’s not what we intend to do.”