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East Coast Plan unveiled
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from mustsharenews.com:
12 Heng Swee Keat Facts To Know Even Though He’s No Longer In The Running For PM
11. Fluent in Hokkien & Mandarin
If you’ve always admired PM Lee’s ability to speak 3 languages, you won’t be disappointed with DPM Heng.
At a PAP rally in Tampines, he was seen delivering a speech in Hokkien and Mandarin fluently.
Definitely a handy language to reach out to our Pioneer generation.
12 Heng Swee Keat Facts To Know Even Though He’s No Longer In The Running For PM
11. Fluent in Hokkien & Mandarin
If you’ve always admired PM Lee’s ability to speak 3 languages, you won’t be disappointed with DPM Heng.
At a PAP rally in Tampines, he was seen delivering a speech in Hokkien and Mandarin fluently.
Definitely a handy language to reach out to our Pioneer generation.
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from mustsharenews.com:
12 Heng Swee Keat Facts To Know Even Though He’s No Longer In The Running For PM
12. Wrote a heartfelt eulogy for Mr Lee Kwan Yew
Having served under the late Mr Lee Kwan Yew as his Principal Private Secretary, DPM Heng was understandably emotional during his passing in 2015.
Source
He paid tribute to Mr Lee by writing a touching eulogy on his Facebook page, and posting this poignant photo of Mr Lee and his late wife.
Source
In DPM Heng’s own words,
Thank you for your memorable Budget speeches, sir
DPM Heng’s decision came as a shock to many. After all, much has been said and done regarding his succession plans in becoming the country’s leader one day.
It’s not known who’s next in line for now, as the 4G team expressed that they will need some time to determine their successor.
Until then, we wish DPM Heng all the best in his endeavours. Thank you for giving us many memorable Budget speeches, sir.
12 Heng Swee Keat Facts To Know Even Though He’s No Longer In The Running For PM
12. Wrote a heartfelt eulogy for Mr Lee Kwan Yew
Having served under the late Mr Lee Kwan Yew as his Principal Private Secretary, DPM Heng was understandably emotional during his passing in 2015.
He paid tribute to Mr Lee by writing a touching eulogy on his Facebook page, and posting this poignant photo of Mr Lee and his late wife.
In DPM Heng’s own words,
The eulogy clearly resonated with Singaporeans and received over 1,700 shares.
Thank you for your memorable Budget speeches, sir
DPM Heng’s decision came as a shock to many. After all, much has been said and done regarding his succession plans in becoming the country’s leader one day.
It’s not known who’s next in line for now, as the 4G team expressed that they will need some time to determine their successor.
Until then, we wish DPM Heng all the best in his endeavours. Thank you for giving us many memorable Budget speeches, sir.
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from straitstimes.com:
PAP East Coast team committed to delivering promises made at GE2020: DPM Heng Swee Keat
SINGAPORE - Deputy Prime Minister Heng Swee Keat on Friday (April 9) said he and his team in East Coast GRC remain committed to serving their residents in the coming years, and that they would fulfil promises made when they were voted in at the polls last year.
He was speaking to reporters late that evening at the People's Action Party's headquarters in Bedok after a two-hour meeting with activists in his constituency, a day after he announced he was stepping aside as leader of the party's fourth-generation team.
His East Coast GRC team - also comprising Minister in the Prime Minister's Office Maliki Osman, Minister of State Tan Kiat How and MPs Jessica Tan and Cheryl Chan - had arrived at the PAP HQ shortly after an earlier closed-door meeting for PAP branch secretaries.
Various meetings among PAP leaders, MPs and activists were organised on Friday to address concerns and questions about the party's succession plans.
Mr Heng said his team told their activists during the hybrid meeting that "nothing has changed".
"We told them, the residents of East Coast have given us a mandate. And we have promised them we will work to build a vibrant, caring and green East Coast," he said.
"The five of us will work together with all of them, and with our residents to carry out what we have promised, and to serve our residents to the best of our ability."
The PAP retained East Coast GRC in GE2020 with 53.41 per cent of the votes, down from 60.73 per cent in 2015.
Mr Heng said he also spent some time to explain what he had said at Thursday's press conference to announce his decision to step aside as Singapore's potential next leader - and to reiterate why it was better for the country to have someone younger with a longer runway to take on significant challenges facing it in the years ahead.
Mr Heng, who turns 60 next week, said his activists understood his decision and that some retired MPs had also reached out to communicate the same.
"They understand the need for us to say this, in order to facilitate the changes that will come."
Asked if he would be involved in deliberations to choose the next 4G leader, he said that he would continue to chair meetings to discuss national issues and to provide his inputs.
He said the rest of the 4G team were discussing the matter among themselves and that he would meet them later next week.
Prime Minister Lee Hsien Loong, who will remain at the helm till his successor is ready to take over, has said that he hopes a new leader can be identified before the next general election.
Mr Heng will relinquish his finance portfolio when a Cabinet reshuffle takes place in two weeks, but will remain as Deputy Prime Minister and Coordinating Minister for Economic Policies.
He also remains the PAP's first assistant secretary-general.
Asked for his ideal candidate to be the next finance minister, Mr Heng said this person should have a very good background in economics, experience in managing a ministry before, and the ability to work with all the other ministers.
"Because every budget requires significant inputs from every ministry, and it is to support the whole-of-government," he said. "We have several suitable candidates, in my mind."
PAP East Coast team committed to delivering promises made at GE2020: DPM Heng Swee Keat
SINGAPORE - Deputy Prime Minister Heng Swee Keat on Friday (April 9) said he and his team in East Coast GRC remain committed to serving their residents in the coming years, and that they would fulfil promises made when they were voted in at the polls last year.
He was speaking to reporters late that evening at the People's Action Party's headquarters in Bedok after a two-hour meeting with activists in his constituency, a day after he announced he was stepping aside as leader of the party's fourth-generation team.
His East Coast GRC team - also comprising Minister in the Prime Minister's Office Maliki Osman, Minister of State Tan Kiat How and MPs Jessica Tan and Cheryl Chan - had arrived at the PAP HQ shortly after an earlier closed-door meeting for PAP branch secretaries.
Various meetings among PAP leaders, MPs and activists were organised on Friday to address concerns and questions about the party's succession plans.
Mr Heng said his team told their activists during the hybrid meeting that "nothing has changed".
"We told them, the residents of East Coast have given us a mandate. And we have promised them we will work to build a vibrant, caring and green East Coast," he said.
"The five of us will work together with all of them, and with our residents to carry out what we have promised, and to serve our residents to the best of our ability."
The PAP retained East Coast GRC in GE2020 with 53.41 per cent of the votes, down from 60.73 per cent in 2015.
Mr Heng said he also spent some time to explain what he had said at Thursday's press conference to announce his decision to step aside as Singapore's potential next leader - and to reiterate why it was better for the country to have someone younger with a longer runway to take on significant challenges facing it in the years ahead.
Mr Heng, who turns 60 next week, said his activists understood his decision and that some retired MPs had also reached out to communicate the same.
"They understand the need for us to say this, in order to facilitate the changes that will come."
Asked if he would be involved in deliberations to choose the next 4G leader, he said that he would continue to chair meetings to discuss national issues and to provide his inputs.
He said the rest of the 4G team were discussing the matter among themselves and that he would meet them later next week.
Prime Minister Lee Hsien Loong, who will remain at the helm till his successor is ready to take over, has said that he hopes a new leader can be identified before the next general election.
Mr Heng will relinquish his finance portfolio when a Cabinet reshuffle takes place in two weeks, but will remain as Deputy Prime Minister and Coordinating Minister for Economic Policies.
He also remains the PAP's first assistant secretary-general.
Asked for his ideal candidate to be the next finance minister, Mr Heng said this person should have a very good background in economics, experience in managing a ministry before, and the ability to work with all the other ministers.
"Because every budget requires significant inputs from every ministry, and it is to support the whole-of-government," he said. "We have several suitable candidates, in my mind."
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Comment: Heng Swee Keat is no longer PM-in-waiting. Will East Coast voters care?
How will East Coast voters react to this latest development?
Sulaiman Daud |
April 10, 2021, 08:27 PM
Once again, thanks to Heng Swee Keat's shocking announcement of April 8. the hottest reality show in Singapore is back on the air. Who will be Singapore's Next Prime Minister?
The last time I can remember someone in a top spot giving it up for other contenders was WWE pro wrestler Edge, who gave up his World Championship due to injuries.
A younger me shed a tear that day. Screenshot from WWE YouTube.
But let's leave the hot takes about the next Prime Minister-in-waiting for now. After all, we likely won't get a clearer picture until the next Cabinet reshuffle, scheduled to take place in about two weeks.
Instead, let's consider the implications of Heng's move on the electoral prospects of East Coast Group Representation Constituency (GRC).
From Tampines to East Coast
Let's rewind to 2020. In the last General Election, Heng moved out of his Tampines GRC "stronghold" and went to East Coast GRC, a switch that caught observers flat-footed.
Now Heng was not the only PAP MP to stand in a different constituency as compared to 2015. Nor was he the only Cabinet minister to pull up stakes, with Minister Desmond Lee moving from Jurong GRC to West Coast GRC to take on the challenge by Tan Cheng Bock's Progress Singapore Party team.
Perhaps the opposition presence was a factor behind the move. Observers noted that the Workers' Party (WP) fielded a team widely-perceived as one of their best after Aljunied GRC.
With Minister Lim Swee Say and Senior Minister of State Lee Yi Shyan retiring, East Coast needed a heavyweight. They got Heng.
Heng explained that PAP cannot afford a gap in East Coast in these uncertain times, so he told PM that he will move to East Coast.
You can quibble over Heng's performance in his new GRC -- and we'll get to that shortly -- but the fact remains that when the dust settled he managed to keep East Coast in the column of the Men and Women in White.
Now the question is -- with the latest development -- can he do so again in the next election?
The tale of the tape
Let's delve into the numbers. Heng and his team won with 53.39 per cent of the vote.
One way to look at it is to compare this with East Coast in 2015, which the PAP won with 60.73 per cent.
So that's a downturn of 7.34 per cent. At this point, some people conclude that Heng and his team weren't strong performers in GE2020.
But in 2020, the overall swing against the PAP, on the national scale, was 8.66 per cent. So Heng and his team bucked the trend and did better than the party as a whole.
As Mothership previously noted, what made this achievement more impressive is that East Coast GRC absorbed Fengshan Single Member Constituency, where the WP put up a strong fight in 2015.
Out of the six contests where the PAP squared off against the WP, three won and three lost. Heng and the East Coast team might have been the lowest performing of the three winners, but they were still winners.
And if you pooled all the votes for the PAP and the WP from the six constituencies, the WP had a slight edge with 50.49 per cent to 49.51 per cent.
Heng and the East Coast team performed 3.88 per cent better, by this comparison.
Pic from Mothership.
Not bad for a guy in a new environment.
The East Coast Plan will go ahead
Let's assume Heng does stay on in East Coast for the next GE, presumably in 2025. It's important to remember that while he may have stepped aside as 4G team leader, and will step down as Finance Minister in a couple of weeks, he remains a Member of Parliament and a Deputy Prime Minister.
So all those questions about what's going to happen to the renowned East Coast Plan? Nothing much, it's still going ahead.
Heng said as much to reporters from the Straits Times on April 9, that "nothing has changed", and added:
"We told them, the residents of East Coast have given us a mandate. And we have promised them we will work to build a vibrant, caring and green East Coast.
The five of us will work together with all of them, and with our residents to carry out what we have promised, and to serve our residents to the best of our ability."
In his Facebook post today (Apr. 10), Heng said that he spoke with and listened to East Coast Party activists for about two hours on Friday night.
He said that his commitment to his East Coast residents remains the same and he will continue to do his best to serve his residents.
Heng had all of nine days to introduce himself to East Coast voters, walking the ground both night and day.
With the benefit of five years under his belt, and with more time to get to know the voters of East Coast once the Finance portfolio is taken off his hands, Heng might very well do better next time round.
Challenges for Heng the candidate
Minister without a ministry
You're unlikely to find this term on official documentation, but the PAP has long practised a strategy of having an "anchor" candidate, almost always a minister, to helm a GRC.
The logic is simple. Each PAP team has a Cabinet minister to serve as the point man or woman. Voters are reminded that if they vote for the opposition, the Cabinet risks losing an office-holder.
PM Lee said as much following WP's victory in Sengkang, calling it a "major loss" to his team with Ng Chee Meng, Amrin Amin and Lam Pin Min out.
Heng was undoubtedly the anchor for East Coast GRC going into the election. But he did so as the Finance Minister.
Will the voters care that he won't be helming a ministry of his own? Edwin Tong, who was not a Cabinet minister at the time, referred to Speaker Tan Chuan-Jin as the "anchor" for Marine Parade even though Tan was not helming a ministry.
It might be instructive to check out the other GRCs in GE2020 with similar anchors with no ministerial portfolio.
Jurong - Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies (74.61 per cent)
Marine Parade - Tan Chuan-Jin, Speaker of Parliament (57.74 per cent)
Pasir Ris-Punggol - Teo Chee Hean, Senior Minister and Coordinating Minister for National Security (64.16 per cent)
It shows that voters are willing to vote for a team with an anchor not personally in charge of a ministry.
Are the East Coast residents concerned?
Residents who spoke to CNA said that it was a "pity" to see Heng step aside from the position but seem quite neutral about his decision.
Reinforcements
After the election and after the latest reshuffle, some candidates in these constituencies, along with East Coast, received promotions to full minister.
Edwin Tong of Marine Parade was promoted to Minister for Culture, Community and Youth.
Maliki Osman of East Coast was promoted to Minister in the Prime Minister's Office, as well as Second Minister for Education and Foreign Affairs.
Tan See Leng of Marine Parade was made a Minister in the Prime Minister's Office, as well as Second Minister for Manpower and Trade & Industry.
With Maliki as a full minister to back up Heng, East Coast might be a stronger ground for the PAP in the next GE.
And of course, it's not out of the question that there could be more moves to East Coast, or more portfolio shuffles. Or Heng might once again be called on to move out of his GRC, and go somewhere else. But it's likely that WP will still contest East Coast fiercely in the next election.
Next Prime Minister?
But there's a cloud on the horizon.
Beyond his Finance portfolio, and his status as Deputy Prime Minister, East Coast voters were undoubtedly aware that Heng was slated to become the next Prime Minister.
His WP opponent Nicole Seah said as much during the election, terming it a "personal dilemma" for voters choosing between backing the opposition or the PM-in-waiting.
The knowledge that they held the future of the PAP's succession plans in their hands must have weighed on the mind of at least one East Coast voter.
Now that Heng has effectively taken himself out of the running to be the next PM, and giving up the Finance portfolio, how will that play with the voters in the next election?
After all, Sengkang has shown that the loss of office-holders is not an insurmountable barrier.
The 2025(?) revive
"But Sulaiman," you may very well be saying (or not, I can't hear you), "2025 is a long way away. A lot of things can happen!"
Well yeah. Five years ago, no one had heard of a President Trump, Liverpool FC were still in their title drought and Thanos wasn't a household name.
Who knows what could happen five years from now. The polar ice caps could have melted, the robot revolution could have begun, or an asteroid could smack into the Earth.
But assuming there's still a Singapore in 2025, and there are Singaporeans around to vote, and there is an East Coast GRC for them to vote in, and it comes down to another rematch between the PAP and the WP, Heng and Seah (or not), white and blue...
That's gonna be a rematch for the ages.
Top image from Heng Swee Keat's Facebook page.
If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates.
How will East Coast voters react to this latest development?
Sulaiman Daud |
April 10, 2021, 08:27 PM
Once again, thanks to Heng Swee Keat's shocking announcement of April 8. the hottest reality show in Singapore is back on the air. Who will be Singapore's Next Prime Minister?
The last time I can remember someone in a top spot giving it up for other contenders was WWE pro wrestler Edge, who gave up his World Championship due to injuries.
A younger me shed a tear that day. Screenshot from WWE YouTube.
But let's leave the hot takes about the next Prime Minister-in-waiting for now. After all, we likely won't get a clearer picture until the next Cabinet reshuffle, scheduled to take place in about two weeks.
Instead, let's consider the implications of Heng's move on the electoral prospects of East Coast Group Representation Constituency (GRC).
From Tampines to East Coast
Let's rewind to 2020. In the last General Election, Heng moved out of his Tampines GRC "stronghold" and went to East Coast GRC, a switch that caught observers flat-footed.
Now Heng was not the only PAP MP to stand in a different constituency as compared to 2015. Nor was he the only Cabinet minister to pull up stakes, with Minister Desmond Lee moving from Jurong GRC to West Coast GRC to take on the challenge by Tan Cheng Bock's Progress Singapore Party team.
Perhaps the opposition presence was a factor behind the move. Observers noted that the Workers' Party (WP) fielded a team widely-perceived as one of their best after Aljunied GRC.
With Minister Lim Swee Say and Senior Minister of State Lee Yi Shyan retiring, East Coast needed a heavyweight. They got Heng.
Heng explained that PAP cannot afford a gap in East Coast in these uncertain times, so he told PM that he will move to East Coast.
You can quibble over Heng's performance in his new GRC -- and we'll get to that shortly -- but the fact remains that when the dust settled he managed to keep East Coast in the column of the Men and Women in White.
Now the question is -- with the latest development -- can he do so again in the next election?
The tale of the tape
Let's delve into the numbers. Heng and his team won with 53.39 per cent of the vote.
One way to look at it is to compare this with East Coast in 2015, which the PAP won with 60.73 per cent.
So that's a downturn of 7.34 per cent. At this point, some people conclude that Heng and his team weren't strong performers in GE2020.
But in 2020, the overall swing against the PAP, on the national scale, was 8.66 per cent. So Heng and his team bucked the trend and did better than the party as a whole.
As Mothership previously noted, what made this achievement more impressive is that East Coast GRC absorbed Fengshan Single Member Constituency, where the WP put up a strong fight in 2015.
Out of the six contests where the PAP squared off against the WP, three won and three lost. Heng and the East Coast team might have been the lowest performing of the three winners, but they were still winners.
And if you pooled all the votes for the PAP and the WP from the six constituencies, the WP had a slight edge with 50.49 per cent to 49.51 per cent.
Heng and the East Coast team performed 3.88 per cent better, by this comparison.
Pic from Mothership.
Not bad for a guy in a new environment.
The East Coast Plan will go ahead
Let's assume Heng does stay on in East Coast for the next GE, presumably in 2025. It's important to remember that while he may have stepped aside as 4G team leader, and will step down as Finance Minister in a couple of weeks, he remains a Member of Parliament and a Deputy Prime Minister.
So all those questions about what's going to happen to the renowned East Coast Plan? Nothing much, it's still going ahead.
Heng said as much to reporters from the Straits Times on April 9, that "nothing has changed", and added:
"We told them, the residents of East Coast have given us a mandate. And we have promised them we will work to build a vibrant, caring and green East Coast.
The five of us will work together with all of them, and with our residents to carry out what we have promised, and to serve our residents to the best of our ability."
In his Facebook post today (Apr. 10), Heng said that he spoke with and listened to East Coast Party activists for about two hours on Friday night.
He said that his commitment to his East Coast residents remains the same and he will continue to do his best to serve his residents.
Heng had all of nine days to introduce himself to East Coast voters, walking the ground both night and day.
With the benefit of five years under his belt, and with more time to get to know the voters of East Coast once the Finance portfolio is taken off his hands, Heng might very well do better next time round.
Challenges for Heng the candidate
Minister without a ministry
You're unlikely to find this term on official documentation, but the PAP has long practised a strategy of having an "anchor" candidate, almost always a minister, to helm a GRC.
The logic is simple. Each PAP team has a Cabinet minister to serve as the point man or woman. Voters are reminded that if they vote for the opposition, the Cabinet risks losing an office-holder.
PM Lee said as much following WP's victory in Sengkang, calling it a "major loss" to his team with Ng Chee Meng, Amrin Amin and Lam Pin Min out.
Heng was undoubtedly the anchor for East Coast GRC going into the election. But he did so as the Finance Minister.
Will the voters care that he won't be helming a ministry of his own? Edwin Tong, who was not a Cabinet minister at the time, referred to Speaker Tan Chuan-Jin as the "anchor" for Marine Parade even though Tan was not helming a ministry.
It might be instructive to check out the other GRCs in GE2020 with similar anchors with no ministerial portfolio.
Jurong - Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies (74.61 per cent)
Marine Parade - Tan Chuan-Jin, Speaker of Parliament (57.74 per cent)
Pasir Ris-Punggol - Teo Chee Hean, Senior Minister and Coordinating Minister for National Security (64.16 per cent)
It shows that voters are willing to vote for a team with an anchor not personally in charge of a ministry.
Are the East Coast residents concerned?
Residents who spoke to CNA said that it was a "pity" to see Heng step aside from the position but seem quite neutral about his decision.
Reinforcements
After the election and after the latest reshuffle, some candidates in these constituencies, along with East Coast, received promotions to full minister.
Edwin Tong of Marine Parade was promoted to Minister for Culture, Community and Youth.
Maliki Osman of East Coast was promoted to Minister in the Prime Minister's Office, as well as Second Minister for Education and Foreign Affairs.
Tan See Leng of Marine Parade was made a Minister in the Prime Minister's Office, as well as Second Minister for Manpower and Trade & Industry.
With Maliki as a full minister to back up Heng, East Coast might be a stronger ground for the PAP in the next GE.
And of course, it's not out of the question that there could be more moves to East Coast, or more portfolio shuffles. Or Heng might once again be called on to move out of his GRC, and go somewhere else. But it's likely that WP will still contest East Coast fiercely in the next election.
Next Prime Minister?
But there's a cloud on the horizon.
Beyond his Finance portfolio, and his status as Deputy Prime Minister, East Coast voters were undoubtedly aware that Heng was slated to become the next Prime Minister.
His WP opponent Nicole Seah said as much during the election, terming it a "personal dilemma" for voters choosing between backing the opposition or the PM-in-waiting.
The knowledge that they held the future of the PAP's succession plans in their hands must have weighed on the mind of at least one East Coast voter.
Now that Heng has effectively taken himself out of the running to be the next PM, and giving up the Finance portfolio, how will that play with the voters in the next election?
After all, Sengkang has shown that the loss of office-holders is not an insurmountable barrier.
The 2025(?) revive
"But Sulaiman," you may very well be saying (or not, I can't hear you), "2025 is a long way away. A lot of things can happen!"
Well yeah. Five years ago, no one had heard of a President Trump, Liverpool FC were still in their title drought and Thanos wasn't a household name.
Who knows what could happen five years from now. The polar ice caps could have melted, the robot revolution could have begun, or an asteroid could smack into the Earth.
But assuming there's still a Singapore in 2025, and there are Singaporeans around to vote, and there is an East Coast GRC for them to vote in, and it comes down to another rematch between the PAP and the WP, Heng and Seah (or not), white and blue...
That's gonna be a rematch for the ages.
Top image from Heng Swee Keat's Facebook page.
If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates.
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from straitstimes.com:
Observers express surprise at Heng Swee Keat stepping aside as 4G leader but say policies on track
SINGAPORE - While Deputy Prime Minister Heng Swee Keat's decision to step aside as Singapore's potential prime minister came as a surprise, industry watchers said it should not rattle investor and business confidence or affect the timeline for implementing key policies such as the goods and services tax (GST) hike.
Speaking to The Straits Times on Friday (April 9), Singapore Business Federation chief executive Lam Yi Young said that like the rest of Singapore, the business community here was surprised by the announcement.
"But they continue to have trust in the Government and the stability of its policies. Confidence in Singapore as a business destination remains high," said Mr Lam.
Mr Heng will stay on as DPM and Coordinating Minister for Economic Policies but relinquish the finance portfolio at the next Cabinet reshuffle. He had cited the long-term and profound challenges of the Covid-19 pandemic, his age and the demands of the top job, as reasons for his decision.
At a press conference on Thursday, the party's fourth-generation (4G) leaders said they would need more time to select another leader from among them.
Business confidence will not be hit
Mr Kurt Wee, president of the Association of Small and Medium Enterprises, said the 4G leaders had "thoroughly proven themselves" in ushering the country through the Covid-19 crisis.
"They have gained the trust of Singaporeans, and the team of political leaders and Cabinet members. I'm sure they will select a leader who will be able to make good calls and lead Singapore over the next decades."
Echoing his sentiments, Singapore International Chamber of Commerce chief executive Victor Mills said the announcement was surprising but would not negatively affect business and investment confidence in Singapore.
"The same political team is in place and we do not expect any policy changes," he explained.
The assurance of policy continuity was a factor highlighted by many other observers.
An example is the GST rate hike from 7 per cent to 9 per cent, which is slated to take place between 2022 and 2025, and which Mr Heng had said would take place "sooner rather than later".
Deloitte Singapore indirect tax leader Richard Mackender said the announcement should not change these plans "as the decision to increase taxes is not a personal mission of the Finance Minister, but an agreement by the whole of Government that tax revenue needs to be secured for the future of the country".
CIMB Private Banking economist Song Seng Wun said Mr Heng's stepping down "came earlier than (I) expected", but noted that policies such as the GST hike are about fiscal sustainability and have little to do with who is the finance minister of the day.
"It is about when the economy is ready and the time is right for the necessary policy tweaks," he said, adding that while the announcement makes for good coffeeshop talk, it is "life as per normal" for the market and businesses.
An example he cited is the recently announced bonds to fund infrastructure projects. The new debt will be called Singapore Government Securities (Infrastructure) and the existing bonds renamed to SGS (Market Development).
"Singapore remains AAA-rated, and our sovereign credit rating unaffected," he said. "The bonds will see a lot of demand."
Most likely successors for PM Lee
DBS senior economist Irvin Seah stressed that there should be clarity on the next prime minister by 2023 - the mid-point of the current term of Government, and well before the next general election due in November 2025.
The longer the uncertainty persists, the more concerns will surface, he said. "While I don't foresee a marked change in policies which have already been announced, I do think that we are at a stage where execution is very important."
Nailing down the post of finance minister is important, he added, as the Government has just introduced a slew of post-pandemic transformational policies, from its sustainability agenda to infrastructure financing.
"At the core of these measures is fiscal policy, and it is important that whoever is going to assume the role of finance minister must be familiar with these policies and able to carry through all these measures."
A Fitch Solutions report released on Friday said it expected the ruling People's Action Party to maintain the high standards of governance that Singapore has become known for, despite disruption to its leadership renewal plans.
"Prime Minister Lee Hsien Loong and senior members of his cohort are likely to remain in advisory positions in Cabinet and help guide the next generation of leaders, making up for the likely significant lack of experience the fourth PM will have compared with their predecessors," it said.
It identified Minister for Trade and Industry Chan Chun Sing and Minister for Education Lawrence Wong as the most likely candidates to succeed PM Lee, who has said that he will stay on until the next leader is ready to take over.
The Economist Intelligence Unit Asia country analyst Yu Liuqing also flagged Mr Chan and Mr Wong as the two most probable candidates for the country's top post.
Speculation aside, continuity and clarity are hallmarks of Singapore-style governance which are unlikely to go away any time soon, said CIMB's Mr Song.
"As long as there is continuity and clarity in policy execution, life goes on. We want Singapore Inc. to be like this, where changes at the top can happen without creating anxiety and uncertainty among businesses."
Observers express surprise at Heng Swee Keat stepping aside as 4G leader but say policies on track
SINGAPORE - While Deputy Prime Minister Heng Swee Keat's decision to step aside as Singapore's potential prime minister came as a surprise, industry watchers said it should not rattle investor and business confidence or affect the timeline for implementing key policies such as the goods and services tax (GST) hike.
Speaking to The Straits Times on Friday (April 9), Singapore Business Federation chief executive Lam Yi Young said that like the rest of Singapore, the business community here was surprised by the announcement.
"But they continue to have trust in the Government and the stability of its policies. Confidence in Singapore as a business destination remains high," said Mr Lam.
Mr Heng will stay on as DPM and Coordinating Minister for Economic Policies but relinquish the finance portfolio at the next Cabinet reshuffle. He had cited the long-term and profound challenges of the Covid-19 pandemic, his age and the demands of the top job, as reasons for his decision.
At a press conference on Thursday, the party's fourth-generation (4G) leaders said they would need more time to select another leader from among them.
Business confidence will not be hit
Mr Kurt Wee, president of the Association of Small and Medium Enterprises, said the 4G leaders had "thoroughly proven themselves" in ushering the country through the Covid-19 crisis.
"They have gained the trust of Singaporeans, and the team of political leaders and Cabinet members. I'm sure they will select a leader who will be able to make good calls and lead Singapore over the next decades."
Echoing his sentiments, Singapore International Chamber of Commerce chief executive Victor Mills said the announcement was surprising but would not negatively affect business and investment confidence in Singapore.
"The same political team is in place and we do not expect any policy changes," he explained.
The assurance of policy continuity was a factor highlighted by many other observers.
An example is the GST rate hike from 7 per cent to 9 per cent, which is slated to take place between 2022 and 2025, and which Mr Heng had said would take place "sooner rather than later".
Deloitte Singapore indirect tax leader Richard Mackender said the announcement should not change these plans "as the decision to increase taxes is not a personal mission of the Finance Minister, but an agreement by the whole of Government that tax revenue needs to be secured for the future of the country".
CIMB Private Banking economist Song Seng Wun said Mr Heng's stepping down "came earlier than (I) expected", but noted that policies such as the GST hike are about fiscal sustainability and have little to do with who is the finance minister of the day.
"It is about when the economy is ready and the time is right for the necessary policy tweaks," he said, adding that while the announcement makes for good coffeeshop talk, it is "life as per normal" for the market and businesses.
An example he cited is the recently announced bonds to fund infrastructure projects. The new debt will be called Singapore Government Securities (Infrastructure) and the existing bonds renamed to SGS (Market Development).
"Singapore remains AAA-rated, and our sovereign credit rating unaffected," he said. "The bonds will see a lot of demand."
Most likely successors for PM Lee
DBS senior economist Irvin Seah stressed that there should be clarity on the next prime minister by 2023 - the mid-point of the current term of Government, and well before the next general election due in November 2025.
The longer the uncertainty persists, the more concerns will surface, he said. "While I don't foresee a marked change in policies which have already been announced, I do think that we are at a stage where execution is very important."
Nailing down the post of finance minister is important, he added, as the Government has just introduced a slew of post-pandemic transformational policies, from its sustainability agenda to infrastructure financing.
"At the core of these measures is fiscal policy, and it is important that whoever is going to assume the role of finance minister must be familiar with these policies and able to carry through all these measures."
A Fitch Solutions report released on Friday said it expected the ruling People's Action Party to maintain the high standards of governance that Singapore has become known for, despite disruption to its leadership renewal plans.
"Prime Minister Lee Hsien Loong and senior members of his cohort are likely to remain in advisory positions in Cabinet and help guide the next generation of leaders, making up for the likely significant lack of experience the fourth PM will have compared with their predecessors," it said.
It identified Minister for Trade and Industry Chan Chun Sing and Minister for Education Lawrence Wong as the most likely candidates to succeed PM Lee, who has said that he will stay on until the next leader is ready to take over.
The Economist Intelligence Unit Asia country analyst Yu Liuqing also flagged Mr Chan and Mr Wong as the two most probable candidates for the country's top post.
Speculation aside, continuity and clarity are hallmarks of Singapore-style governance which are unlikely to go away any time soon, said CIMB's Mr Song.
"As long as there is continuity and clarity in policy execution, life goes on. We want Singapore Inc. to be like this, where changes at the top can happen without creating anxiety and uncertainty among businesses."
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from straitstimes.com:
Forum: DPM Heng Swee Keat a good, selfless leader
It is a pity that Singapore will lose a good leader whose heart is with Singapore and all Singaporeans, as good leaders are hard to find (4G ministers to pick new leader as Heng Swee Keat steps aside, April 9).
While I respect Deputy Prime Minister Heng Swee Keat's personal and selfless decision for the good of Singapore, I do not think he should consider his age a factor for him to step aside.
Mr Heng will turn 60 this year, and given Singapore's life expectancy of around 83, he has many good years ahead of him.
There are many leaders in the world who are much older than him.
Fortunately, Mr Heng will stay on in the Cabinet as DPM and Coordinating Minister for Economic Policies and that will give him an opportunity to continue providing his good service to Singaporeans.
I want to thank Mr Heng for his contributions to Singapore, especially during the Covid-19 crisis.
Ng Choon Lai
Forum: DPM Heng Swee Keat a good, selfless leader
It is a pity that Singapore will lose a good leader whose heart is with Singapore and all Singaporeans, as good leaders are hard to find (4G ministers to pick new leader as Heng Swee Keat steps aside, April 9).
While I respect Deputy Prime Minister Heng Swee Keat's personal and selfless decision for the good of Singapore, I do not think he should consider his age a factor for him to step aside.
Mr Heng will turn 60 this year, and given Singapore's life expectancy of around 83, he has many good years ahead of him.
There are many leaders in the world who are much older than him.
Fortunately, Mr Heng will stay on in the Cabinet as DPM and Coordinating Minister for Economic Policies and that will give him an opportunity to continue providing his good service to Singaporeans.
I want to thank Mr Heng for his contributions to Singapore, especially during the Covid-19 crisis.
Ng Choon Lai
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from straitstimes.com:
Forum: Confident of smooth leadership transition
I have had the opportunity to mingle with Deputy Prime Minister Heng Swee Keat on several occasions and found him to be a good-natured man who is well versed in a number of topics.
He has been humble and accommodating on several issues. He is also a person who listens to our problems attentively and offers solutions.
To me, he was the best man for the leadership post.
Prime Minister Lee Hsien Loong will turn 70 soon. Emeritus Senior Minister Goh Chok Tong stepped down as prime minister at 63 years old, and Mr Lee Kuan Yew, at 67.
Ensuring a smooth leadership transition has been a key tenet of governance by the ruling party to ensure that good people will always be at the helm of the nation.
Now the question is who will be taking over the role of leader of the 4G team? There should not be a continuity problem.
We are expecting a Cabinet reshuffle in two weeks.
I am confident that good and capable young leaders will be filling the hot seats and that the new prime minister-designate will be supported by fellow Cabinet members and everyone will rally around him.
Singaporeans will give our support wholeheartedly.
Balu Visvanathan
Forum: Confident of smooth leadership transition
I have had the opportunity to mingle with Deputy Prime Minister Heng Swee Keat on several occasions and found him to be a good-natured man who is well versed in a number of topics.
He has been humble and accommodating on several issues. He is also a person who listens to our problems attentively and offers solutions.
To me, he was the best man for the leadership post.
Prime Minister Lee Hsien Loong will turn 70 soon. Emeritus Senior Minister Goh Chok Tong stepped down as prime minister at 63 years old, and Mr Lee Kuan Yew, at 67.
Ensuring a smooth leadership transition has been a key tenet of governance by the ruling party to ensure that good people will always be at the helm of the nation.
Now the question is who will be taking over the role of leader of the 4G team? There should not be a continuity problem.
We are expecting a Cabinet reshuffle in two weeks.
I am confident that good and capable young leaders will be filling the hot seats and that the new prime minister-designate will be supported by fellow Cabinet members and everyone will rally around him.
Singaporeans will give our support wholeheartedly.
Balu Visvanathan
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from straitstimes.com:
Heng Swee Keat steps aside as 4G leader: What comes next for PAP and Singapore?
SINGAPORE - Singaporeans' social media accounts and chat groups have been busy since news broke last Thursday (April 8) that Deputy Prime Minister Heng Swee Keat would step aside as leader of the People's Action Party's fourth-generation team.
What are the implications of his move? We tackle the key questions.
1. How did the 4G get its name?
From the 1G to the 4G, the "G" was coined by political observers to denote each generational change in leadership for different prime ministers' Cabinets.
The term is inexact, given that each of Singapore's three prime ministers so far has had a mix of ministers who were new to politics and young, as well as older and more experienced. Several ministers also served in the Cabinets of more than one PM.
Founding PM Lee Kuan Yew's team was the 1G leadership, though that term is seldom used. Mr Lee's key Cabinet colleagues, more commonly referred to as the Old Guard, included Messrs Goh Keng Swee, S. Rajaratnam and Toh Chin Chye.
In the latter half of the 1970s, Mr Lee - who became PM at the age of 35 - brought into his team younger people whom he hoped to test out to form the next generation of leaders, such as Mr Goh Chok Tong, Dr Tony Tan and Mr Ong Teng Cheong.
Mr Goh became PM in 1990 when he was 49 and stepped down in 2004. His generation of leaders became known as the 2G.
Prime Minister Lee Hsien Loong, who entered politics in 1984 and became PM in 2004 at the age of 52, would go on to form his 3G team of key ministers, including Mr Teo Chee Hean, Mr Tharman Shanmugaratnam and Mr Lim Hng Kiang.
2. Who are in the 4G?
Key 4G leaders include Mr Heng Swee Keat, Mr Chan Chun Sing, Ms Grace Fu, Mr Lawrence Wong, Mr Ong Ye Kung, Mr Desmond Lee and Mr Masagos Zulkifli.
Mr Heng and Mr Chan are the first and second assistant secretaries-general, respectively, of the People's Action Party's 36th and current central executive committee (CEC), the party's top decision-making body.
The composition of the CEC after its 2018 internal elections signalled to observers that 4G leaders were coming into their own, with then deputy prime ministers Teo and Tharman no longer standing for election.
The role of secretary-general of the PAP is traditionally held by the PM. Mr Heng's appointment as first assistant secretary-general indicated that he was the PM-in-waiting.
3. What are the implications of DPM Heng stepping aside?
The PAP's leadership transition has been set back and the succession question blown wide open with Mr Heng bowing out as successor to PM Lee - an unprecedented move, and which came 2½ years after ministers and Members of Parliament issued a joint statement of support for him.
Speculation is rife as to the reasons for Mr Heng's decision.
PM Lee, in a letter to Mr Heng, said: "I thank you for your selfless decision to stand aside. Your actions now are fully in keeping with the spirit of public service and sense of duty that motivated you to step forward when I asked you to stand for election in 2011."
Mr Heng had cited the long-term and profound challenges of the Covid-19 pandemic, his age, the demands of the top job and the need for a younger leader with a "longer runway", as reasons for stepping aside. But some wonder if a lacklustre 2020 General Election showing played a part.
The last elections saw Mr Heng making a last-minute move from Tampines Group Representation Constituency (GRC) - where he had been an MP since 2011 - to East Coast GRC. The latter has been one of the most hotly contested seats in recent elections, and was won by the PAP in 2015 with 60.73 per cent of the vote.
A stumble in a speech he made on Nomination Day about plans for East Coast went viral and dogged his campaign. The PAP's five-member team he led clinched 53.41 per cent of the vote against the Workers' Party, holding on to the seat, but more narrowly than some had anticipated.
Mr Heng has denied that the election outcome shaped his decision to step aside, saying it had more to do with his sense that the post Covid-19 world, with all its changes, would call for a younger leader with a longer runway to take the country forward.
4. How did the PAP's 4G team respond to DPM's decision?
The key question now is how quickly the 4G leadership team can band together and act decisively to choose PM Lee's successor.
The 4G leaders said they respect and accept Mr Heng's decision, and that he "made the decision with Singapore's long-term interests at heart".
In a statement last Thursday, they said they will need more time to select another leader from among themselves, and that the foremost priority is to tackle immediate challenges and ensure the country emerges stronger from the Covid-19 crisis.
They also asked PM Lee to stay on in his role, saying that the unexpected news is a "setback for our succession planning".
"We recognise that Singaporeans will be concerned. We seek your support and understanding, as we choose another leader for the team," they added.
"We will continue working as a team to serve our people, and to earn the confidence and trust of all Singaporeans."
5. When will they decide on their new leader?
PM Lee, who had said last year that he would see Singapore through the pandemic, has agreed to stay on until such time when the new 4G leader is chosen and ready to take over.
"I think (the 4G team will) take longer than a few months, but I hope that they will reach a consensus and identify a new leader before the next general elections. I have no intention of staying on longer than necessary," he said.
The next general election must be held by November 2025.
The sooner the 4G team decides on its new leader, the longer the runway he will have to work with PM Lee towards the next general election.
6. Who are the front runners?
As PAP second assistant secretary-general and Mr Heng's chosen deputy, Mr Chan Chun Sing, 51, will once again be among the front runners to lead the 4G team.
Political analysts consider Transport Minister Ong Ye Kung, 51, Education Minister Lawrence Wong, 48, and National Development Minister Desmond Lee, 44, as the other contenders.
Mr Chan was asked at a press conference last Thursday if he - as Mr Heng's deputy - would be next in line to succeed him. In response, he said the 4G team has to relook the question of succession "holistically".
Noting that a collective decision on the next 4G leader would be made in due course, Mr Chan said leadership succession plans go beyond just choosing a leader, to finding and forming the strongest possible team for Singapore.
Mr Ong said this process of developing a strong team and rallying around the first-among-equals leader takes some time. "What we have just learnt is a big change, a big reconfiguration. So we seek your understanding and support to give us some time to regroup," he added.
7. How does this affect Singaporeans?
A Cabinet reshuffle will be announced in about two weeks' time, which will see Mr Heng relinquish his portfolio as finance minister.
The decision on this was discussed last year, when PM Lee and Mr Heng decided on Cabinet appointments following the July 10 General Election.
There will also be "consequential moves" in other ministries, said PM Lee.
Observers say Mr Heng's decision should not affect the timeline for implementing key policies - from the goods and services tax hike between 2022 and 2025, to post-Covid-19 industry and workforce transformation. These are expected to be carried out in the long-term national interest, regardless of changes to the team.
The various national initiatives that Mr Heng shepherded to help workers master new skills and capabilities, as well as build new industries and sectors for the future, will continue.
In his letter to Mr Heng, PM Lee wrote: "I look forward to you carrying on this work as Coordinating Minister for Economic Policies, and setting Singapore on the path to emerging stronger from Covid-19."
Mr Heng also spearheaded the Singapore Together movement, where Singaporeans partner the Government to co-create policy solutions. This will continue under 4G ministers such as Mr Desmond Lee.
Mr Heng said he and his team in East Coast GRC remain committed to serving their residents in the coming years, and that they would fulfil promises made when they were voted in at the polls last year, including working to build a vibrant, caring and green East Coast.
8. Will the economy and investor confidence be affected?
Business confidence does not seem to have been rattled, and Singapore's economy is on track to grow in tandem with global recovery.
For the whole of last year, the Republic's gross domestic product contracted 5.4 per cent. It is forecast to grow 4 per cent to 6 per cent this year.
Said Mr Chan: "We will continue to work hard to distinguish ourselves as a safe harbour for investors to mobilise their capital, aggregate their talent, protect their intellectual property amid the global uncertainties."
Industry observers say Singapore will have little trouble retaining its top-notch sovereign credit ratings, so long as its economic fundamentals remain sound and there is policy continuity and political stability.
"Prime Minister Lee Hsien Loong and senior members of his cohort are likely to remain in advisory positions in Cabinet and help guide the next generation of leaders, making up for the likely significant lack of experience the fourth PM will have compared to their predecessors," said Fitch Solutions in a report last Friday.
The market seems to agree. The Singapore dollar was steady following the announcement last Thursday, made after the close of trading in the stock market.
Heng Swee Keat steps aside as 4G leader: What comes next for PAP and Singapore?
SINGAPORE - Singaporeans' social media accounts and chat groups have been busy since news broke last Thursday (April 8) that Deputy Prime Minister Heng Swee Keat would step aside as leader of the People's Action Party's fourth-generation team.
What are the implications of his move? We tackle the key questions.
1. How did the 4G get its name?
From the 1G to the 4G, the "G" was coined by political observers to denote each generational change in leadership for different prime ministers' Cabinets.
The term is inexact, given that each of Singapore's three prime ministers so far has had a mix of ministers who were new to politics and young, as well as older and more experienced. Several ministers also served in the Cabinets of more than one PM.
Founding PM Lee Kuan Yew's team was the 1G leadership, though that term is seldom used. Mr Lee's key Cabinet colleagues, more commonly referred to as the Old Guard, included Messrs Goh Keng Swee, S. Rajaratnam and Toh Chin Chye.
In the latter half of the 1970s, Mr Lee - who became PM at the age of 35 - brought into his team younger people whom he hoped to test out to form the next generation of leaders, such as Mr Goh Chok Tong, Dr Tony Tan and Mr Ong Teng Cheong.
Mr Goh became PM in 1990 when he was 49 and stepped down in 2004. His generation of leaders became known as the 2G.
Prime Minister Lee Hsien Loong, who entered politics in 1984 and became PM in 2004 at the age of 52, would go on to form his 3G team of key ministers, including Mr Teo Chee Hean, Mr Tharman Shanmugaratnam and Mr Lim Hng Kiang.
2. Who are in the 4G?
Key 4G leaders include Mr Heng Swee Keat, Mr Chan Chun Sing, Ms Grace Fu, Mr Lawrence Wong, Mr Ong Ye Kung, Mr Desmond Lee and Mr Masagos Zulkifli.
Mr Heng and Mr Chan are the first and second assistant secretaries-general, respectively, of the People's Action Party's 36th and current central executive committee (CEC), the party's top decision-making body.
The composition of the CEC after its 2018 internal elections signalled to observers that 4G leaders were coming into their own, with then deputy prime ministers Teo and Tharman no longer standing for election.
The role of secretary-general of the PAP is traditionally held by the PM. Mr Heng's appointment as first assistant secretary-general indicated that he was the PM-in-waiting.
3. What are the implications of DPM Heng stepping aside?
The PAP's leadership transition has been set back and the succession question blown wide open with Mr Heng bowing out as successor to PM Lee - an unprecedented move, and which came 2½ years after ministers and Members of Parliament issued a joint statement of support for him.
Speculation is rife as to the reasons for Mr Heng's decision.
PM Lee, in a letter to Mr Heng, said: "I thank you for your selfless decision to stand aside. Your actions now are fully in keeping with the spirit of public service and sense of duty that motivated you to step forward when I asked you to stand for election in 2011."
Mr Heng had cited the long-term and profound challenges of the Covid-19 pandemic, his age, the demands of the top job and the need for a younger leader with a "longer runway", as reasons for stepping aside. But some wonder if a lacklustre 2020 General Election showing played a part.
The last elections saw Mr Heng making a last-minute move from Tampines Group Representation Constituency (GRC) - where he had been an MP since 2011 - to East Coast GRC. The latter has been one of the most hotly contested seats in recent elections, and was won by the PAP in 2015 with 60.73 per cent of the vote.
A stumble in a speech he made on Nomination Day about plans for East Coast went viral and dogged his campaign. The PAP's five-member team he led clinched 53.41 per cent of the vote against the Workers' Party, holding on to the seat, but more narrowly than some had anticipated.
Mr Heng has denied that the election outcome shaped his decision to step aside, saying it had more to do with his sense that the post Covid-19 world, with all its changes, would call for a younger leader with a longer runway to take the country forward.
4. How did the PAP's 4G team respond to DPM's decision?
The key question now is how quickly the 4G leadership team can band together and act decisively to choose PM Lee's successor.
The 4G leaders said they respect and accept Mr Heng's decision, and that he "made the decision with Singapore's long-term interests at heart".
In a statement last Thursday, they said they will need more time to select another leader from among themselves, and that the foremost priority is to tackle immediate challenges and ensure the country emerges stronger from the Covid-19 crisis.
They also asked PM Lee to stay on in his role, saying that the unexpected news is a "setback for our succession planning".
"We recognise that Singaporeans will be concerned. We seek your support and understanding, as we choose another leader for the team," they added.
"We will continue working as a team to serve our people, and to earn the confidence and trust of all Singaporeans."
5. When will they decide on their new leader?
PM Lee, who had said last year that he would see Singapore through the pandemic, has agreed to stay on until such time when the new 4G leader is chosen and ready to take over.
"I think (the 4G team will) take longer than a few months, but I hope that they will reach a consensus and identify a new leader before the next general elections. I have no intention of staying on longer than necessary," he said.
The next general election must be held by November 2025.
The sooner the 4G team decides on its new leader, the longer the runway he will have to work with PM Lee towards the next general election.
6. Who are the front runners?
As PAP second assistant secretary-general and Mr Heng's chosen deputy, Mr Chan Chun Sing, 51, will once again be among the front runners to lead the 4G team.
Political analysts consider Transport Minister Ong Ye Kung, 51, Education Minister Lawrence Wong, 48, and National Development Minister Desmond Lee, 44, as the other contenders.
Mr Chan was asked at a press conference last Thursday if he - as Mr Heng's deputy - would be next in line to succeed him. In response, he said the 4G team has to relook the question of succession "holistically".
Noting that a collective decision on the next 4G leader would be made in due course, Mr Chan said leadership succession plans go beyond just choosing a leader, to finding and forming the strongest possible team for Singapore.
Mr Ong said this process of developing a strong team and rallying around the first-among-equals leader takes some time. "What we have just learnt is a big change, a big reconfiguration. So we seek your understanding and support to give us some time to regroup," he added.
7. How does this affect Singaporeans?
A Cabinet reshuffle will be announced in about two weeks' time, which will see Mr Heng relinquish his portfolio as finance minister.
The decision on this was discussed last year, when PM Lee and Mr Heng decided on Cabinet appointments following the July 10 General Election.
There will also be "consequential moves" in other ministries, said PM Lee.
Observers say Mr Heng's decision should not affect the timeline for implementing key policies - from the goods and services tax hike between 2022 and 2025, to post-Covid-19 industry and workforce transformation. These are expected to be carried out in the long-term national interest, regardless of changes to the team.
The various national initiatives that Mr Heng shepherded to help workers master new skills and capabilities, as well as build new industries and sectors for the future, will continue.
In his letter to Mr Heng, PM Lee wrote: "I look forward to you carrying on this work as Coordinating Minister for Economic Policies, and setting Singapore on the path to emerging stronger from Covid-19."
Mr Heng also spearheaded the Singapore Together movement, where Singaporeans partner the Government to co-create policy solutions. This will continue under 4G ministers such as Mr Desmond Lee.
Mr Heng said he and his team in East Coast GRC remain committed to serving their residents in the coming years, and that they would fulfil promises made when they were voted in at the polls last year, including working to build a vibrant, caring and green East Coast.
8. Will the economy and investor confidence be affected?
Business confidence does not seem to have been rattled, and Singapore's economy is on track to grow in tandem with global recovery.
For the whole of last year, the Republic's gross domestic product contracted 5.4 per cent. It is forecast to grow 4 per cent to 6 per cent this year.
Said Mr Chan: "We will continue to work hard to distinguish ourselves as a safe harbour for investors to mobilise their capital, aggregate their talent, protect their intellectual property amid the global uncertainties."
Industry observers say Singapore will have little trouble retaining its top-notch sovereign credit ratings, so long as its economic fundamentals remain sound and there is policy continuity and political stability.
"Prime Minister Lee Hsien Loong and senior members of his cohort are likely to remain in advisory positions in Cabinet and help guide the next generation of leaders, making up for the likely significant lack of experience the fourth PM will have compared to their predecessors," said Fitch Solutions in a report last Friday.
The market seems to agree. The Singapore dollar was steady following the announcement last Thursday, made after the close of trading in the stock market.
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from straitstimes.com:
Forum: Don't assume that older adults have shorter career runways
I read with much concern Deputy Prime Minister Heng Swee Keat's letter to Prime Minister Lee Hsien Loong, indicating his intention to step aside as leader of the fourth-generation (4G) team (DPM Heng's letter to PM, April 9).
While I respect his motivations for stepping aside, using age as the primary reason for doing so seems to undermine Singapore's efforts to combat ageist mindsets.
First, Mr Heng highlights the issue of a short "runway". The role of prime minister is unique, but that reason unfortunately perpetuates the impression that older workers necessarily have shorter career trajectories and are therefore not worth investing in.
The Ministry of Manpower's report on boosting support for older workers already points out that a lack of support for training older workers may arise from this perception that younger workers have "longer career runways".
Yet, older adults retain considerable neural plasticity, and can draw from their wealth of experience to better deploy new skills and information.
Second, Mr Heng implicitly points out that his current good health may not last.
But there remains great diversity in health trajectories in later life, and it is not helpful to assume old age necessarily comes with debilitating illnesses that prevent meaningful or important work.
In any case, as Singapore ages and chronic conditions become more commonplace, the onus is on society and policymakers to accommodate workers' needs rather than write them off.
Third, Mr Heng compares his own age with those of past prime ministers when they first took up the mantle, but this ignores the fact that people are living longer today compared with then. The life expectancy at age 65 during the time previous prime ministers took over was approximately 8.3 (1960), 15.7 (1990) and 18.4 (2004).
In 2019, it was 21.3.
There is little reason to believe that Mr Heng's "runway" will necessarily be shorter than that of previous prime ministers, even if he takes over in his mid-60s.
It is also worth remembering that United States President Joe Biden is 78, and Malaysia's Tun Dr Mahathir Mohamad served as prime minister in his 90s. Their ages say nothing about their ability to lead a country.
The reasons given for such a huge decision send signals about the expectations we should have and the kind of society we want to live in.
As it is, it seems that Mr Heng's reasons for stepping aside contradicts the civil service's efforts to combat age stereotypes and promote working till older ages.
I do not think Mr Heng is intentionally being ageist, so I hope that he can clarify his thinking here.
Shannon Ang (Dr)
Forum: Don't assume that older adults have shorter career runways
I read with much concern Deputy Prime Minister Heng Swee Keat's letter to Prime Minister Lee Hsien Loong, indicating his intention to step aside as leader of the fourth-generation (4G) team (DPM Heng's letter to PM, April 9).
While I respect his motivations for stepping aside, using age as the primary reason for doing so seems to undermine Singapore's efforts to combat ageist mindsets.
First, Mr Heng highlights the issue of a short "runway". The role of prime minister is unique, but that reason unfortunately perpetuates the impression that older workers necessarily have shorter career trajectories and are therefore not worth investing in.
The Ministry of Manpower's report on boosting support for older workers already points out that a lack of support for training older workers may arise from this perception that younger workers have "longer career runways".
Yet, older adults retain considerable neural plasticity, and can draw from their wealth of experience to better deploy new skills and information.
Second, Mr Heng implicitly points out that his current good health may not last.
But there remains great diversity in health trajectories in later life, and it is not helpful to assume old age necessarily comes with debilitating illnesses that prevent meaningful or important work.
In any case, as Singapore ages and chronic conditions become more commonplace, the onus is on society and policymakers to accommodate workers' needs rather than write them off.
Third, Mr Heng compares his own age with those of past prime ministers when they first took up the mantle, but this ignores the fact that people are living longer today compared with then. The life expectancy at age 65 during the time previous prime ministers took over was approximately 8.3 (1960), 15.7 (1990) and 18.4 (2004).
In 2019, it was 21.3.
There is little reason to believe that Mr Heng's "runway" will necessarily be shorter than that of previous prime ministers, even if he takes over in his mid-60s.
It is also worth remembering that United States President Joe Biden is 78, and Malaysia's Tun Dr Mahathir Mohamad served as prime minister in his 90s. Their ages say nothing about their ability to lead a country.
The reasons given for such a huge decision send signals about the expectations we should have and the kind of society we want to live in.
As it is, it seems that Mr Heng's reasons for stepping aside contradicts the civil service's efforts to combat age stereotypes and promote working till older ages.
I do not think Mr Heng is intentionally being ageist, so I hope that he can clarify his thinking here.
Shannon Ang (Dr)
- Joined
- Jul 14, 2008
- Messages
- 89,028
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from straitstimes.com:
Forum: Selfless leaders set Singapore apart
I think Singapore is probably one of the few countries in the world where you do not see leaders fighting to stay in power, unlike in many other countries.
I don't think Deputy Prime Minister Heng Swee Keat is being ageist for stepping aside, and we should not treat this instance as a microcosm of society (Don't assume that older adults have shorter career runways, April 12).
As founding prime minister Lee Kuan Yew said many times in the past, Singapore could quickly derail if we have the wrong person at the helm.
The gargantuan role of the prime minister is not an easy one, especially from the perspective of people like DPM Heng who had the opportunity to work with Mr Lee in the past.
I think Singaporeans can count their blessings that our leaders are selfless enough to step aside for younger leaders to step up to the challenge.
Let's hope this political culture continues to be the tradition for our leaders here.
Seah Yam Meng
Forum: Selfless leaders set Singapore apart
I think Singapore is probably one of the few countries in the world where you do not see leaders fighting to stay in power, unlike in many other countries.
I don't think Deputy Prime Minister Heng Swee Keat is being ageist for stepping aside, and we should not treat this instance as a microcosm of society (Don't assume that older adults have shorter career runways, April 12).
As founding prime minister Lee Kuan Yew said many times in the past, Singapore could quickly derail if we have the wrong person at the helm.
The gargantuan role of the prime minister is not an easy one, especially from the perspective of people like DPM Heng who had the opportunity to work with Mr Lee in the past.
I think Singaporeans can count their blessings that our leaders are selfless enough to step aside for younger leaders to step up to the challenge.
Let's hope this political culture continues to be the tradition for our leaders here.
Seah Yam Meng
- Joined
- Jul 14, 2008
- Messages
- 89,028
- Points
- 113
from straitstimes.com:
5Cs? It's 3 new Cs such as caring for environment that resonate with young S'poreans: Heng Swee Keat
SINGAPORE - The 5Cs of the Singaporean dream once went as follows: cash, car, credit card, condominium and country club membership.
But these aspirations no longer resonate with younger Singaporeans today, noted Deputy Prime Minister Heng Swee Keat during a speech in which he suggested three new Cs to shape the country's future.
These are creating more value for society, caring about the environment and wider community, and charting the way forward.
"Aspirations evolve, and your generation have your own aspirations," Mr Heng told students at the Singapore University of Technology and Design's (SUTD's) Ministerial Forum on Friday (April 16).
"You have grown up in a different phase of Singapore's growth and development, and you will have been exposed, much more, to global cultures and influences, and to social media."
While the fundamental aspirations - a good career, strong relationships with family and friends and the opportunity to start families of their own - remain important, the minister acknowledged that many young people also have a strong desire to drive change and make an impact.
The hybrid event was one of Mr Heng's first public speeches since last week's announcement that he would step aside as leader of the People's Action Party's fourth-generation team.
He was relaxed but often became animated, and made an uncharacteristic decision to veer off his prepared speech at several points to speak warmly of the university's role in equipping students to solve the challenges of the future. His speech was followed by a closed-door dialogue with students.
In his address to the nearly 300 attendees, Mr Heng noted that there is great global concern that the Covid-19 pandemic has resulted in a "lost generation" of young people, with some observers even describing this group as "triple losers" of the crisis.
In many countries, their education has been affected due to prolonged school closures, while youth unemployment has grown, accelerating dissatisfaction and unrest. Many governments are also piling on debt in fiscal stimulus efforts, which could crimp their capacity to invest in the future.
But Singapore is in a better position and its young people will not become a lost generation, Mr Heng said.
The country has largely kept its schools open and transitioned well to home-based learning, with extra efforts made to ensure children from lower-income families do not fall behind.
Although unemployment has risen, Singapore has managed to mitigate the impact such that the problem is not worse than it was during the 2008 global financial crisis. Graduating cohorts from institutes of higher learning have done relatively well, with most finding jobs or traineeships within six months of graduation, the minister noted.
And social cohesion and trust have also remained strong, with many young people stepping forward to help the vulnerable and disadvantaged.
"I know many of you are concerned that Covid has closed off some doors," Mr Heng said. "Some overseas opportunities have to be deferred, or some industries that you are interested in might have fewer opportunities at the moment. But remember, for every door closed, a new door opens."
He urged students to keep an open mind to new opportunities, given how the pandemic has accelerated structural trends such as digitalisation and green growth.
In the speech, Mr Heng noted how aspirations have changed with each successive generation.
People had practical dreams in his time - to find jobs and feed their families. Later on, in a "natural logical progression", the 5Cs captured the essence of people's material aspirations, he said.
But these no longer resonate with younger people today. "With our heavy investments in, for example, public transport infrastructure, many have told me that it is now better to go car-lite and that it is better for the environment," Mr Heng said. "And with the rise of e-payments, many do not even own credit cards or wallets, when all you need is a mobile phone and a system that is linked to the various e-payment modes."
What would the new three Cs mean? For one thing, it would mean creating value for society through innovation and enterprise, and not just in the economic arena, the minister said.
He recounted how young people used to be described as the "strawberry generation", in what he described as an unfair caricature.
"Many of you are dynamic and enterprising, pursuing your passion, starting your own ventures, and not afraid to try new things," Mr Heng said, stressing that this spirit of innovation will be increasingly important in the post-coronavirus world.
It is also encouraging that many young people want to have a society where no one is left behind, and are passionate about protecting the environment, he added.
He also highlighted how collective participation will be needed as Singapore charts its way forward, especially since divisions are deepening in societies around the world.
"This work is never done - I hope that your generation continues to forge a way forward, even as you have open and frank discussions about issues you care about."
Rather than a lost generation, Singapore will see a generation of trailblazers emerge from the crisis, Mr Heng added. "You are the future of our nation. And it is in your hands that the next chapter of our nation's history will be written."
5Cs? It's 3 new Cs such as caring for environment that resonate with young S'poreans: Heng Swee Keat
SINGAPORE - The 5Cs of the Singaporean dream once went as follows: cash, car, credit card, condominium and country club membership.
But these aspirations no longer resonate with younger Singaporeans today, noted Deputy Prime Minister Heng Swee Keat during a speech in which he suggested three new Cs to shape the country's future.
These are creating more value for society, caring about the environment and wider community, and charting the way forward.
"Aspirations evolve, and your generation have your own aspirations," Mr Heng told students at the Singapore University of Technology and Design's (SUTD's) Ministerial Forum on Friday (April 16).
"You have grown up in a different phase of Singapore's growth and development, and you will have been exposed, much more, to global cultures and influences, and to social media."
While the fundamental aspirations - a good career, strong relationships with family and friends and the opportunity to start families of their own - remain important, the minister acknowledged that many young people also have a strong desire to drive change and make an impact.
The hybrid event was one of Mr Heng's first public speeches since last week's announcement that he would step aside as leader of the People's Action Party's fourth-generation team.
He was relaxed but often became animated, and made an uncharacteristic decision to veer off his prepared speech at several points to speak warmly of the university's role in equipping students to solve the challenges of the future. His speech was followed by a closed-door dialogue with students.
In his address to the nearly 300 attendees, Mr Heng noted that there is great global concern that the Covid-19 pandemic has resulted in a "lost generation" of young people, with some observers even describing this group as "triple losers" of the crisis.
In many countries, their education has been affected due to prolonged school closures, while youth unemployment has grown, accelerating dissatisfaction and unrest. Many governments are also piling on debt in fiscal stimulus efforts, which could crimp their capacity to invest in the future.
But Singapore is in a better position and its young people will not become a lost generation, Mr Heng said.
The country has largely kept its schools open and transitioned well to home-based learning, with extra efforts made to ensure children from lower-income families do not fall behind.
Although unemployment has risen, Singapore has managed to mitigate the impact such that the problem is not worse than it was during the 2008 global financial crisis. Graduating cohorts from institutes of higher learning have done relatively well, with most finding jobs or traineeships within six months of graduation, the minister noted.
And social cohesion and trust have also remained strong, with many young people stepping forward to help the vulnerable and disadvantaged.
"I know many of you are concerned that Covid has closed off some doors," Mr Heng said. "Some overseas opportunities have to be deferred, or some industries that you are interested in might have fewer opportunities at the moment. But remember, for every door closed, a new door opens."
He urged students to keep an open mind to new opportunities, given how the pandemic has accelerated structural trends such as digitalisation and green growth.
In the speech, Mr Heng noted how aspirations have changed with each successive generation.
People had practical dreams in his time - to find jobs and feed their families. Later on, in a "natural logical progression", the 5Cs captured the essence of people's material aspirations, he said.
But these no longer resonate with younger people today. "With our heavy investments in, for example, public transport infrastructure, many have told me that it is now better to go car-lite and that it is better for the environment," Mr Heng said. "And with the rise of e-payments, many do not even own credit cards or wallets, when all you need is a mobile phone and a system that is linked to the various e-payment modes."
What would the new three Cs mean? For one thing, it would mean creating value for society through innovation and enterprise, and not just in the economic arena, the minister said.
He recounted how young people used to be described as the "strawberry generation", in what he described as an unfair caricature.
"Many of you are dynamic and enterprising, pursuing your passion, starting your own ventures, and not afraid to try new things," Mr Heng said, stressing that this spirit of innovation will be increasingly important in the post-coronavirus world.
It is also encouraging that many young people want to have a society where no one is left behind, and are passionate about protecting the environment, he added.
He also highlighted how collective participation will be needed as Singapore charts its way forward, especially since divisions are deepening in societies around the world.
"This work is never done - I hope that your generation continues to forge a way forward, even as you have open and frank discussions about issues you care about."
Rather than a lost generation, Singapore will see a generation of trailblazers emerge from the crisis, Mr Heng added. "You are the future of our nation. And it is in your hands that the next chapter of our nation's history will be written."
- Joined
- Jul 14, 2008
- Messages
- 89,028
- Points
- 113
from straitstimes.com:
85% of Singapore youth still optimistic about the future, volunteer group's survey shows
SINGAPORE - The future is bright for Singapore's youth despite the hit the country took from the Covid-19 pandemic, said Deputy Prime Minister Heng Swee Keat and Minister for Culture, Community and Youth Edwin Tong on Saturday (April 17).
They were speaking at a dialogue with young people held by charitable youth volunteer organisation Heartware Network, which is celebrating its 21st anniversary.
A survey by the network showed that 85 per cent of 320 young respondents were optimistic regarding their future. Most of them are 17 to 21 years old.
They cited education and training, community and social support, and future career prospects as the top reasons for why they remain hopeful.
Mr Heng said: "Covid-19 has exposed huge problems around the world and... people are worried about a lost generation because 168 million kids did not go to school last year.
"The next problem is that... youth unemployment has shot up, and that's why you see youth protests, dissatisfaction and so on."
He added that governments globally have also been issuing debt, for which the younger generation will have to pay. But Singapore was able to have five Budgets last year because previous generations did not leave a burden for future ones.
Still, with an ageing population, needs will increase. Hence, the goods and services tax (GST) rate will have to go up "earlier (rather) than later", Mr Heng said, adding that he will take responsibility for that decision.
Despite these issues, Singapore's youth are still well prepared to face the future, both ministers said.
Mr Tong said: "We had a difficult time last year. I know many young people are worried about career, education, internships and opportunities.
"But I urge you to look at it as a transient problem. It's a temporary problem because if you're strong enough, if you're resilient enough (and) you have the core skills, don't worry, the opportunities in Singapore will continue to be there."
He added that the Jobs Support Scheme in particular kept employees in jobs and companies viable, and ultimately continues to create opportunities for young people to take those jobs.
Most importantly, the youth need soft skills to seize job opportunities, he said.
"Where I think a lot more preparation should be done is not so much in the digital space... and the hard skills, but increasingly... the softer skills (such as) the emotional quotient (EQ) aspect needs to be honed better," Mr Tong noted.
"I think there is no better way of doing this than to interact with people on a daily basis, including people you don't know, and to be put in difficult situations. Volunteer and put yourself well out of your comfort zone... Being exposed to an environment that is different will be one major selling point eventually when you go for an interview to look for a job."
These skills include being a team player and venturing beyond social media to interact with others in real world situations, he said.
Mr Heng agreed, adding that a big advantage youth here have is growing up in a multiracial and multicultural society.
He recalled an entrepreneur who decided to locate his firm's headquarters here because he could get people from diverse backgrounds.
"I hope that (you) young Singaporeans will open yourselves to working with people from all over the world. Do not be afraid of competition. But instead, strengthen yourself so that you can continue to be successful. And in fact, I believe that Singapore youth will have more opportunities than many elsewhere."
East Coast GRC MP and Minister of State in the Prime Minister's Office Tan Kiat How, who was also present, said that entrepreneurs coming here look for people who can work across different cultures.
Mr Tong said: "Don't be worried about the headwinds that might come ahead because of Covid-19. We will work with young people, (on) the economy with the Government and agencies, and we will make sure that young people do not suffer in the long term as a result of this."
85% of Singapore youth still optimistic about the future, volunteer group's survey shows
SINGAPORE - The future is bright for Singapore's youth despite the hit the country took from the Covid-19 pandemic, said Deputy Prime Minister Heng Swee Keat and Minister for Culture, Community and Youth Edwin Tong on Saturday (April 17).
They were speaking at a dialogue with young people held by charitable youth volunteer organisation Heartware Network, which is celebrating its 21st anniversary.
A survey by the network showed that 85 per cent of 320 young respondents were optimistic regarding their future. Most of them are 17 to 21 years old.
They cited education and training, community and social support, and future career prospects as the top reasons for why they remain hopeful.
Mr Heng said: "Covid-19 has exposed huge problems around the world and... people are worried about a lost generation because 168 million kids did not go to school last year.
"The next problem is that... youth unemployment has shot up, and that's why you see youth protests, dissatisfaction and so on."
He added that governments globally have also been issuing debt, for which the younger generation will have to pay. But Singapore was able to have five Budgets last year because previous generations did not leave a burden for future ones.
Still, with an ageing population, needs will increase. Hence, the goods and services tax (GST) rate will have to go up "earlier (rather) than later", Mr Heng said, adding that he will take responsibility for that decision.
Despite these issues, Singapore's youth are still well prepared to face the future, both ministers said.
Mr Tong said: "We had a difficult time last year. I know many young people are worried about career, education, internships and opportunities.
"But I urge you to look at it as a transient problem. It's a temporary problem because if you're strong enough, if you're resilient enough (and) you have the core skills, don't worry, the opportunities in Singapore will continue to be there."
He added that the Jobs Support Scheme in particular kept employees in jobs and companies viable, and ultimately continues to create opportunities for young people to take those jobs.
Most importantly, the youth need soft skills to seize job opportunities, he said.
"Where I think a lot more preparation should be done is not so much in the digital space... and the hard skills, but increasingly... the softer skills (such as) the emotional quotient (EQ) aspect needs to be honed better," Mr Tong noted.
"I think there is no better way of doing this than to interact with people on a daily basis, including people you don't know, and to be put in difficult situations. Volunteer and put yourself well out of your comfort zone... Being exposed to an environment that is different will be one major selling point eventually when you go for an interview to look for a job."
These skills include being a team player and venturing beyond social media to interact with others in real world situations, he said.
Mr Heng agreed, adding that a big advantage youth here have is growing up in a multiracial and multicultural society.
He recalled an entrepreneur who decided to locate his firm's headquarters here because he could get people from diverse backgrounds.
"I hope that (you) young Singaporeans will open yourselves to working with people from all over the world. Do not be afraid of competition. But instead, strengthen yourself so that you can continue to be successful. And in fact, I believe that Singapore youth will have more opportunities than many elsewhere."
East Coast GRC MP and Minister of State in the Prime Minister's Office Tan Kiat How, who was also present, said that entrepreneurs coming here look for people who can work across different cultures.
Mr Tong said: "Don't be worried about the headwinds that might come ahead because of Covid-19. We will work with young people, (on) the economy with the Government and agencies, and we will make sure that young people do not suffer in the long term as a result of this."
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