Our G needs to explain $7B ‘windfall’, economy in fact weak

[Johnrambo]

The PAP government owes Singaporeans an explanation as to how it ‘missed’ statutory boards’ contributions estimate by a mile last year.

In Today’s “S’pore posts record S$9.6 billion budget surplus, thanks to ‘one-off’ factors“, the article briefly explained how PAP managed to generate the ‘unexpected’ gargantuan surplus in FY2017:

1. ” …owing mainly to “exceptional statutory board contributions” and higher-than-expected collections from stamp duties.”

2. “Some S$4.9 billion in statutory board contributions were expected in FY2017, more than 16 times the initial estimate of S$300 million“.**

3. “This was driven mainly by an “exceptional contribution” from the Monetary Authority of Singapore thanks to higher investment returns from recovering global markets, said the MOF”.

Fact: Increased contributions from some stat boards were almost offset by decreased contributions of other stat boards.

More at
Our G needs to explain $7B ‘windfall’, economy in fact weak

 

[rushifa666]

I thought temasick already wiped out 9.6b?

 

[mojito]

Pung sai then look for toilet paper? Nothing wong with collecting more monys!

 

[JohnTan]

The government will return some of the $7b surplus to sinkies in the form of cash ang paos, bursaries, housing grants, investments into infrastructure, healthcare and education. The rest goes into our reserves to ensure that our local currency remains far stronger than our neighbours. You are welcome to leave and convert your savings into ruppiah, ringgit, renminbi or rupees if you think those governments are better and more reliable.

 

[ToaPehGong]

Some S$4.9 billion in statutory board contributions were expected in FY2017, more than 16 times the initial estimate of S$300 million

I can think of all the fine they had collected