Not sure WHY Minister Heng has to "attack" the WP n its MPs.
1. it is clear fr last few years Actual Budget SURPRISE SURPLUS, no one really know where positive surprises came abt though the expenditures part we hv more control.
2. the principle of "borrow short to finance long" is unwise n generally accepted.
So, keeping the National Reserve growing is great. Yet, how big is enough? Also, keeping the rate of growth to the principal slower instead of totally NOT growing it is such a Big sin?
3. MP ProEngr MP "Sister Hwa" story of a conversation between the wife who needs regular allowance vs dependence on striking a gaming windfall is SO OFF TARGET! Missing the point that "state land sale" is a RECURRING revenue as after the lease expired, be it 99 or 60 or 30 years later, the state CAN SELL the SAME LAND again!!
If other MPs in the chamber cannot see the flaws of her story, we hv a problem since these r some of the supposedly brightest!!
4. The GST increase that may happen between 2021 n 2025 is a guess. That is assuming the people hv good jobs or businesses to hv enough income n spending power to consume more. Does it also assume the NIRC may not do so well n cannot keep up with being a big source of Budget revenue?
The principle is: how much national reserves is prudent n safe without having to just grow n grow. Of course it is good to hv a big big saving. Yet if one has "Too much", what is the point of keep growing vs to alleviate some current spending without taxing the general people?
5. due to the time spent on arguing abt a maybe increase of GST in the future or what not, the MPs did not discuss:
a. mindset change of - "less is more" for consumption by the elders; "premiums for health insurance can only go up" when rebates were given by the insurers in the last few years as reported;
b. needs for defence budget to be so BIG?; homeland security spending is important yet we need to hv a tight control over it lest it runs wild; etc.
Anyway, another unfocused debate! Maybe the CoC debates will b more focused? n of higher quality?
1. it is clear fr last few years Actual Budget SURPRISE SURPLUS, no one really know where positive surprises came abt though the expenditures part we hv more control.
2. the principle of "borrow short to finance long" is unwise n generally accepted.
So, keeping the National Reserve growing is great. Yet, how big is enough? Also, keeping the rate of growth to the principal slower instead of totally NOT growing it is such a Big sin?
3. MP ProEngr MP "Sister Hwa" story of a conversation between the wife who needs regular allowance vs dependence on striking a gaming windfall is SO OFF TARGET! Missing the point that "state land sale" is a RECURRING revenue as after the lease expired, be it 99 or 60 or 30 years later, the state CAN SELL the SAME LAND again!!
If other MPs in the chamber cannot see the flaws of her story, we hv a problem since these r some of the supposedly brightest!!
4. The GST increase that may happen between 2021 n 2025 is a guess. That is assuming the people hv good jobs or businesses to hv enough income n spending power to consume more. Does it also assume the NIRC may not do so well n cannot keep up with being a big source of Budget revenue?
The principle is: how much national reserves is prudent n safe without having to just grow n grow. Of course it is good to hv a big big saving. Yet if one has "Too much", what is the point of keep growing vs to alleviate some current spending without taxing the general people?
5. due to the time spent on arguing abt a maybe increase of GST in the future or what not, the MPs did not discuss:
a. mindset change of - "less is more" for consumption by the elders; "premiums for health insurance can only go up" when rebates were given by the insurers in the last few years as reported;
b. needs for defence budget to be so BIG?; homeland security spending is important yet we need to hv a tight control over it lest it runs wild; etc.
Anyway, another unfocused debate! Maybe the CoC debates will b more focused? n of higher quality?
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