- Joined
- Dec 30, 2010
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- 12,730
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- 113
Let’s be clear, the amount of the loan is not inconsequential. To put it in context, US$4 billion (S$5 billion) is:
o Over twice the amount the government allocated in Budget 2012 for healthcare subsidies.
o More than the total budget allocated to Health in 2012.
o More than forty times the amount MCYS has allocated to help needy families.
o On a per capita basis it is more than three times the amount provided by the UK and 2.4 times what Australia, a much wealthier country, has provided.
· The US and China, as of this moment, have offered nothing. Ditto Hong Kong whose economy is of a similar size to ours.
I am sad to say that some sections of the state media headlined their reports of this High court filing with the statement that the MAS had said that the loan commitment was not unconstitutional.
This flagrantly disregarded the fact that the matter is now sub judice and could be interpreted as contempt of court. I will be taking legal advice on this separately.
- http://theonlinecitizen.com/2012/07...m-press-conference-on-high-court-application/
o Over twice the amount the government allocated in Budget 2012 for healthcare subsidies.
o More than the total budget allocated to Health in 2012.
o More than forty times the amount MCYS has allocated to help needy families.
o On a per capita basis it is more than three times the amount provided by the UK and 2.4 times what Australia, a much wealthier country, has provided.
· The US and China, as of this moment, have offered nothing. Ditto Hong Kong whose economy is of a similar size to ours.
I am sad to say that some sections of the state media headlined their reports of this High court filing with the statement that the MAS had said that the loan commitment was not unconstitutional.
This flagrantly disregarded the fact that the matter is now sub judice and could be interpreted as contempt of court. I will be taking legal advice on this separately.
- http://theonlinecitizen.com/2012/07...m-press-conference-on-high-court-application/
