SDA
PM: Govt did not have 20/20 foresight
He was responding to questions at the "Singapore Perspectives" conference on governance. -TNP
Thu, Jan 31, 2013
The New Paper
SINGAPORE - The Prime Minister admitted on Monday that the Government did not have 20/20 foresight, leading to problems with inadequate infrastructure.
Acknowledging the issues of insufficient housing and transportation network, Mr Lee Hsien Loong pointed out that the Government attempted to ride the wave of rapid growth in the mid-2000s after the lag in economic growth at the beginning of the millennium.
He was responding to questions at the "Singapore Perspectives" conference on governance, organised by the Institute of Policy Studies.
Mr Lee elaborated that in 2000 and 2001, the 9/11 terrorism attack on the US plunged countries into recession. Singapore experienced a slow economy, with minimum population growth, and local housing prices went down.
But by 2005 and 2006, he said the mood had changed and the economy started picking up, reported Channel NewsAsia.
The Government did what it thought would have been appropriate then. It decided to make up for lost time by growing the population and boosting the economy.
He accepted that infrastructure like housing and transport didn't keep up with the growth.
He said: "We lacked that 20/20 foresight. Next time, we will try to do better, certainly to have a bigger buffer and not to cut things so fine."
Replying to a question on why there is a need to moderate social space, he said: "We don't believe the community in the social space, especially online, moderates itself. It doesn't happen anywhere in the world."