Minister Heng: After 3 decades of ‘planning’ for ageing population issue, PAP government did not set aside any funds

Finance Minister Heng has told a few half truths to support impending tax hikes.

On the issue of ageing population, Heng justified not using a cent of our reserves and claimed: “If we don’t prepare for that, I think we will come to regret it and I want to make sure that… I will do the responsible thing.”

Heng was trying to mislead by saying “If we don’t prepare for that“.  This is because the issue of ageing population was highlighted some 3 decades and not something which the PAP should be preparing for today.

In 1990, TTSH Dept of Geriatric Medicine wrote a paper with projected figures of elderly residents in 2030 (image below).

20171208_023817

Less than 2 decades ago, the PAP had even formed an inter-ministerial committee to study this issue.

In its push to get Singaporeans to accept PAP’s insane immigration policy, Singaporeans have also been constantly reminded of the ageimg population issue during the past decade.

Fact is, PAP was already aware of this issue decades ago.

Having anticipated this issue decades ago, how could PAP turn around and claim that it had not set aside any funds? What is the point of anticipating a problem but not planning for the eventuality?

Heng sidetracked a little and talked  khawk about “how earlier generations of leaders and finance ministers were very prudent, even during the years when Singapore’s gross domestic product was growing 8 to 9 per cent annually”.

If earlier generations of PAP leaders were prudent, they wouldn’t have helped themselves to millions in tax dollars. In 1989, PAP leader LKY was given a salary increase of 200% on top of exorbitant increases during earlier years. Other PAP leaders were given salary increases which were only slightly less than LKY’s. Spending millions of tax dollars on themselves = “very prudent”?

Perhaps Heng might also be hinting to Singaporeans there have been significànt investment losses when he said “I will be very cautious about making statements about how big our reserves are…”.

So, could Heng enlighten us on what’s left in our reserves?

After 3 decades of planning, Heng wants us to believe that the PAP did not save for the anticipated rainy day? And reserves cannot be used because they have to increase perpetually to benefit our children?

I don’t think Heng expected his hogwash to be taken seriously.

 

 

 

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4 Responses to Minister Heng: After 3 decades of ‘planning’ for ageing population issue, PAP government did not set aside any funds

  1. Confused says:

    The pap can’t be using the same argument that we need to build up our reserves 30years ago perpetually to fool the people.

    One needs to know that as we are building reserves from $5b to say $500b or $1000b today? The magnitude of this say $750b reserves today is big enough to be on its own feet to start producing good return in the region of 6% annually and bring in at least $45b yearly to subsidise our budget and benefiting the future generations (our generation now) which the pap government mentioned 30 years ago. It is not right for the government to keep telling us the same story which can only means they have failed miserably, no? Technically, a good and capable government would be able to keep our 750b or more as principal……it has to be a target and not endless building up which is total crap.

    That’s certainly not what it should have been? It’s not the people duty to perpetually pay high tax for the government to satisfy it’s addict by using it to invest at its whim and fancy without bring good for the people. It certainly does not justify it at all.

  2. Sinkie says:

    PAPpy ministers have always paid themselves very well since the 1970s.

    But ever since the multi-million dollar salaries & GDP bonuses from the 1990s, I have condemned them for anything & everything that has gone bad & can be handled thru policy & govt.

    I don’t accept any excuse since they’re paying themselves the highest political salaries in the world, and many many times the median wage of a citizen — a ratio that is much more lopsided than even the wealthiest countries such as US or Switzerland.

    With such salaries, S’pore shouldn’t have any problems, let alone the kind of problems that other countries with much cheaper leaders don’t have or are being handled properly.

  3. Confused says:

    It’s actually very much overpaid for such very much underperformed job.

    If raising tax is the only way to manage this country without disclosing what the actual reserves is, how can the pap keep asking Singaporeans to trust them when they should be open and transparent to the people.

    No one will earn trust this way unless they must first demonstrated to the people that it was indeed so without inviting the people 2nd guess.

  4. DavidLKSee says:

    HOLY SHIT — this whole bunch of Political Nincoompoops & Talk-Cock Sing-Song Muddle-headed Million-dollar Ministers have been talking cock about our “ageing issues” for some 30 bloody long years !!!

    This is CLEAR-CUT PROOF that the Obscenely-Overpaid PAP Million-Dollar Government is clueless/hopeless/useless as well as goondu/bodoh/kayu !!!

    Like that, where got HOPE for the long-term future of Singapore (The Nation) & Singaporeans (The People) ???

    During GE 2011, Smart S’pore Voters delivered to the PAP Govt a long-overdue and well-deserved “Big Slap on The Face”.
    At the coming GE 2020, it’s time to deliver yet another “Big Kick in The Butt” of the Yaya PAPayas !!!

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