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[h=2]MPs apologised in ST in 2007 for saying CPF is cheap
money?[/h]
July 26th, 2014 |
Author: Contributions
I refer to the article “S’pore has an edge in grooming leaders: MM – A robust
system is in place here to groom a new generation of leaders” (ST, Oct 6).
Grooming leaders – MPs?
So, what has grooming the next generation of leaders got to do with members
of Parliament (MPs) writing to the Straits Times forum?
MP wrote to newspaper to apologise?
Well, MP for Tampines GRC, Sin Boon Ann, wrote to the Straits Times forum on
3 October, “MP now convinced CPF funds don’t come cheap” (link) and said that:
“… it was reported that I used the word ‘cheap’ to describe CPF monies as a
source of funds for the Government, in the debate in Parliament on CPF
reforms.
I wish to clarify that my choice of the word was motivated by a comparison
between the cost of CPF monies to the Government and the returns that the
Government is able to get in the longer term through careful fund
management…
I should emphasise that the word was not chosen, as some may have suggested,
to imply that the Government was making money at the people’s expense.
I am glad to note that your newspaper had accurately reported my remark that
any income derived from such investments has been applied for the benefit of the
people of Singapore.
Having considered carefully the explanation of the Second Minister for
Finance, Mr Tharman Shanmugaratnam, I am now satisfied and have come to the
conclusion that the CPF monies, with risk-free interest guaranteed, do not
represent a cheap source of funds to the Government, particularly now that the
interest rate on the CPF balances has been pushed higher by the recent
changes.”
MP said in Parliament – why CPF returns so low?
In this connection, another MP’s (Ong Kian Min) speech in the Parliamentary
debate on CPF changes, was the “talk of the town” amongst Singaporeans.
He had made a strong rebuttal to the proposed CPF changes, particularly on
the issue of why the returns on CPF are so low.
Another MP wrote to newspaper to apologise?
On 27 September, Mr Ong wrote to the Straits Times forum, to clarify the
remarks he had made in Parliament.
From rarely refreshing speeches from the heart for the people by the MPs, to
the (27 September) “apology like” letters in the Straits Times by the same MPs
themselves – is it any wonder why some Singaporeans say that Parliamentary
debate in Singapore is kind of docile, and not very lively?
Self rebuttals of MPs own remarks in Parliament?
The letters sounded almost like “self rebuttals” of the MPs’ own remarks in
Parliament!
Unprecedented in Parliamentary history?
This I believe is unprecedented in Parliamentary history.
Just when we thought a new era of more open debate had arrived …. alas
…..
Speaking up in Parliament?
It may indeed be a sad day for Singapore – who else will ever dare to speak
up in the future?
What message are we sending to MPs and Singaporeans?
What kind of leaders are we grooming?
With reference to the articles “PAP wary of those too eager to please” and
“In search of 4th-generation leaders” (ST, Oct 6), what kind of leaders are we
grooming when they have to write to the Straits Times forum to clarify their own
rebuttals in Parliament in debating national issues?
The Whip?
The fact that the whip is seldom lifted, may be a stumbling block to
diversity and alternative view points in Parliamentary sessions.
As for the issue of CPF changes itself, since it has been said that the CPF
system is flawed, and that’s why there is a need for a major reform of the CPF
system now, how can we be so sure that the current proposals to fix the “flaw”
are perfect?
The past policies were not perfect (flawed), how can we be sure that the new
policies are perfect (not flawed too)?
Free and unfettered debate in Parliament?
Only a free and unfettered debate in Parliament can ensure that policies are
subject to comprehensive and diverse review, on a continuing basis.
P.S. Come with your family and friends to the 3rd Return Our CPF –
HDB protest on 23 August 4 pm to 6.30 pm at Speakers’ Corner https://www.facebook.com/events/648543138548193/
Leong Sze Hian
Leong is the Past President of the Society of Financial Service
Professionals, an alumnus of Harvard University, has authored 4 books, quoted
over 1500 times in the media , has been host of a money radio show, a daily
newspaper column, Wharton Fellow, SEACeM Fellow, columnist for Malaysiakini,
executive producer of the movie Ilo Ilo (26 international awards). He has served
as Honorary Consul of Jamaica and founding advisor to the Financial Planning
Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors and 13
professional qualifications. He blogs at [url]www.leongszehian.com[/URL]
money?[/h]
system is in place here to groom a new generation of leaders” (ST, Oct 6).
Grooming leaders – MPs?
So, what has grooming the next generation of leaders got to do with members
of Parliament (MPs) writing to the Straits Times forum?
MP wrote to newspaper to apologise?
Well, MP for Tampines GRC, Sin Boon Ann, wrote to the Straits Times forum on
3 October, “MP now convinced CPF funds don’t come cheap” (link) and said that:
“… it was reported that I used the word ‘cheap’ to describe CPF monies as a
source of funds for the Government, in the debate in Parliament on CPF
reforms.
I wish to clarify that my choice of the word was motivated by a comparison
between the cost of CPF monies to the Government and the returns that the
Government is able to get in the longer term through careful fund
management…
I should emphasise that the word was not chosen, as some may have suggested,
to imply that the Government was making money at the people’s expense.
I am glad to note that your newspaper had accurately reported my remark that
any income derived from such investments has been applied for the benefit of the
people of Singapore.
Having considered carefully the explanation of the Second Minister for
Finance, Mr Tharman Shanmugaratnam, I am now satisfied and have come to the
conclusion that the CPF monies, with risk-free interest guaranteed, do not
represent a cheap source of funds to the Government, particularly now that the
interest rate on the CPF balances has been pushed higher by the recent
changes.”
MP said in Parliament – why CPF returns so low?
In this connection, another MP’s (Ong Kian Min) speech in the Parliamentary
debate on CPF changes, was the “talk of the town” amongst Singaporeans.
He had made a strong rebuttal to the proposed CPF changes, particularly on
the issue of why the returns on CPF are so low.
Another MP wrote to newspaper to apologise?
On 27 September, Mr Ong wrote to the Straits Times forum, to clarify the
remarks he had made in Parliament.
From rarely refreshing speeches from the heart for the people by the MPs, to
the (27 September) “apology like” letters in the Straits Times by the same MPs
themselves – is it any wonder why some Singaporeans say that Parliamentary
debate in Singapore is kind of docile, and not very lively?
Self rebuttals of MPs own remarks in Parliament?
The letters sounded almost like “self rebuttals” of the MPs’ own remarks in
Parliament!
Unprecedented in Parliamentary history?
This I believe is unprecedented in Parliamentary history.
Just when we thought a new era of more open debate had arrived …. alas
…..
Speaking up in Parliament?
It may indeed be a sad day for Singapore – who else will ever dare to speak
up in the future?
What message are we sending to MPs and Singaporeans?
What kind of leaders are we grooming?
With reference to the articles “PAP wary of those too eager to please” and
“In search of 4th-generation leaders” (ST, Oct 6), what kind of leaders are we
grooming when they have to write to the Straits Times forum to clarify their own
rebuttals in Parliament in debating national issues?
The Whip?
The fact that the whip is seldom lifted, may be a stumbling block to
diversity and alternative view points in Parliamentary sessions.
As for the issue of CPF changes itself, since it has been said that the CPF
system is flawed, and that’s why there is a need for a major reform of the CPF
system now, how can we be so sure that the current proposals to fix the “flaw”
are perfect?
The past policies were not perfect (flawed), how can we be sure that the new
policies are perfect (not flawed too)?
Free and unfettered debate in Parliament?
Only a free and unfettered debate in Parliament can ensure that policies are
subject to comprehensive and diverse review, on a continuing basis.
P.S. Come with your family and friends to the 3rd Return Our CPF –
HDB protest on 23 August 4 pm to 6.30 pm at Speakers’ Corner https://www.facebook.com/events/648543138548193/
Leong Sze Hian
Leong is the Past President of the Society of Financial Service
Professionals, an alumnus of Harvard University, has authored 4 books, quoted
over 1500 times in the media , has been host of a money radio show, a daily
newspaper column, Wharton Fellow, SEACeM Fellow, columnist for Malaysiakini,
executive producer of the movie Ilo Ilo (26 international awards). He has served
as Honorary Consul of Jamaica and founding advisor to the Financial Planning
Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors and 13
professional qualifications. He blogs at [url]www.leongszehian.com[/URL]
