Mega projects such as the Tuas mega port, Changi Airport Terminal 5, etc cost tens of billion$.
Over the past few decades, the PAP should have accumulated hundreds of billons in reserves. Reserves should be invested in infrastructure which will benefit future generations.
Since 2007, land sales revenue alone amounted to about $160 billion. (figures from budget statements)
Including investment returns, the figure should easily hit $200 billion.
Strangely, PAP behaves as if our reserves have been emptied and has been increasing costs for businesses and citizens.
Funds could have been raised by GIC through divestment of foreign assets. Instead, the government continues to channel budget surpluses and land sales revenue into what many have suspected to be a black hole.
If Singapore does not have sufficient funds, wouldn’t it be better to postpone infrastructure expansion, similar to what the Malaysian government is doing?