Actually, why is the PAP obsessed with having a budget surplus?

[chaiscool]

You mean China never buy US Bond?

They do as do other countries and Japan is the one who bought the most.

 

[1920_me]

It's not PAP.

Civil service like to sandbag to meet KPI. Always ask extra and provision extra, so that they look good delivering under budget.

 

[chaiscool]

That's absolutely not true.

The recent case from the American President is the perfect example of how important surplus and reserve are, even to big countries. When Donal Trump launched the massive tariffs against the world, why he suddenly pulled the brake and issued a pause for 90 days? Because some people, hard to pin point who, actually started dumping their huge position in US Treasury sending yield from 4.0 to 4.5%! The largest US Treasury holders are namely Japan, China and some US hedge funds.

Japan finance minister went to US and came back without agrreeing to any of Donald Trump's unreasonable demands. Why? Because Japan is largest US Treasury holder now. If they started dumping US Treasury, Donald Trump will come begging Japan and China to save America from the $6 trillion UST maturing in Jun 2025. So, Japan has the cards, China has the cards and they have not lifted a finger...

Imagine Japan, China and the American hedge funds did not have such huge reserve of UST, we the world already have kneeled before Emperor Trump by now. We had better thank the US hedge funds or Japan that dealt this damaging blow to emperor Trump.

So. Please stop saying huge reserve/surpluses is not needed for any countries regardless big or small.

Wtf? You think trump is bending over for China and Japan over those bonds? You do know they can just print more money right?

Aiyo if China really satki like you say then won't kena tariff liao. Trump flip flop for anything one, see how he kpkb harvard then do backflip.

Smlj China and Japan holding power over US.

 

[pmetpmet]

To maintain your 1 : 3.3

How else do you think our SGD is so strong

 

[Forever84]

Now I know why edmw always complaining about cost of living etc, high housing prices and COE price laio

Because they live their life with a target of net negative bank balance. They ask why need to save money! Just spend, borrow and pay interest! I don’t like to collect dividends and interest.

 

[Readingbooks]

TS is phrasing the question wrongly. Should be asking how much is too excessive. And is getting excess surplus on a tough year necessary? Eg raising gst when the cost of living and inflation is already high, resulting in budget surplus in this year.

 

[hammerhammer]

Ah Wong say already. We need umbrella even it's . Not finding umbrella when it

 

[bunegg]

then how you explain switzerland?

close to no natural resources, only reliant on their financial services industry, and still having a huge country budget deficit.

They are famous for their private banks but doesn’t mean their other industry is weak. They are a country with strong engineering and innovation capability. Much stronger than many countries around them.

 

[bunegg]

excessive surplus collection is to fuel proliferate spending.

when you see eye watering things like $1B budget for People's Association, $30 B Healthcare spending its very clear indication of blank cheque spending IMHO.

$235m for founder's memorial? proliferate spending and more to glorify PAP IMHO.

Some time economy no good. Most of these spending is what’s stopping recession

 

[junlove]

There is nothing wrong with Surplus, but how you want to use it. Currently, it just seems they want to be responsible for increasing the yields from the surpluses they collected, invest them, and then use it for 'rainy days'. Issue is, this is but a Strategy, but is this the BEST strategy moving forward?

I would like to see more of the monies used on real productivity gains for the nation for longer term.
it's like, being a parent, don't believe the kids can do well, so... ai zhai lah, daddy invests for you, so your future generations can benefit. But... if invest more into the kids' productivity, maybe next time will earn more?

It's not like they are doing this for nefarious reason, the intent is good, but... it is really good for the future generation? i dunno sia

 

[buttbERry]

must ask them liao this one

 

[AlchemistJ19]

先苦后甜 policy.
So when is the 甜? Maybe 500 years later?

 

[GuiGuZi]

Just to give you some examples: So that they can -

1) Build $335M founder's memorial, spend another $242.4M to build an MRT station just for the memorial plus all the running costs in future?

2) Continue with more $558M ERP 2.0 type of projects to screw us more.

3) Spend $880k for bin centre at National Arts Council

Most importantly, because they can.

Whatever they do, sinkies will still send them into parliament. So kah kah lai! Take all our money then they have freedom to raise their own salary soon!

4) $400k to rename Marina Bay to Marina Bay.

5) SimplyGo U-turn.

 

[Hot_Dog]

Where our policies came from.

 

[AUTUMN&WINTER]

In case there's another pandemic like covid. Needs to give free vaccines, free this and that.

 

[jq1986]

There is nothing wrong with Surplus, but how you want to use it. Currently, it just seems they want to be responsible for increasing the yields from the surpluses they collected, invest them, and then use it for 'rainy days'. Issue is, this is but a Strategy, but is this the BEST strategy moving forward?

I would like to see more of the monies used on real productivity gains for the nation for longer term.
it's like, being a parent, don't believe the kids can do well, so... ai zhai lah, daddy invests for you, so your future generations can benefit. But... if invest more into the kids' productivity, maybe next time will earn more?

It's not like they are doing this for nefarious reason, the intent is good, but... it is really good for the future generation? i dunno sia

What do you think the whole upskilling initiative is about?

 

[archie7]

I mean, so many countries in the world, including the largest countries like China, USA, Japan, etc are all not even obsessed with it.

https://www.channelnewsasia.com/sin...y-review-political-appointment-holder-3198201

SO HOW MUCH DOES A MINISTER EARN?​

The political salary formula contains the following fixed and variable pay components:

• Fixed component of 13 months
• Annual variable component, typically set at one month
• Individual performance bonus, set at three months for good performance
• National bonus, set at three months if targets are met

https://news.smu.edu.sg/sites/news....u_in_the_news/2012/sources/CNA_20120104_1.pdf

real income growth rate - controlling our currency strength to manage the "real" income growth

unemployment rate - either exclude those out of work for more than 6 months from the stats or converted gainfully employed FT or SGPR to SG citizens

real GDP growth rate - super friendly to businesses