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Predominant Party System To End Soon, by: Gilbert Goh

fivestars

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Predominant Party System To End Soon in Singapore?

Written by: Gilbert Goh

As this year draws to an end soon, I wondered if there is any other year that is filled more with drama.

From awfully regular flooding in downtown Orchard Road to the recent demise of Mrs Lee Kuan Yew, Singaporeans must be asking themselves if something dramatic is about to happen soon.

It all started off in July this year when there was much ground displeasure at how the government could easily pushed its way through the much-inflated Youth Olympics (YOG) $350 million budget mismanagement.

Many also believed that a single-party dominated governance may not be ideal for the country as of late, the government seems lost and lacking in direction.

Moreover, its growth-at-all-cost direction means that many people suffer from the consequences of its’ open-door policy as the effects of globalisation took its toll on the low and middle income earners. Many struggle to make ends meet and some have succumb to life’s pressures with adverse consequences.

Increasing Frustration Among Voters

There is also the general belief that there is lack of transparency among the policy makers and a PAP-dominated Parliament has ensured that accountability can remain minimal with no apparent consequences.

The general population is increasingly frustrated that nothing can be done when they feel that something is amiss. Many vented their frustration anonymously on online socio-political platforms knowing well that nothing can be done to change anything in real-life.

For example, the people could not really bring the government to task when there is regular flooding in the country whenever there is a heavy downpour. The usual rhetoria issued by the PUB agency does not really appease the frustration faced by most Singaporeans.

More importantly, many have questioned: “Is there any other way that matters can be resolved than constantly threatening the government with an alternative vote?”

Worse of all, most elections are won by the ruling party and many have took to emigrating to escape the stifling political climate here.

In other countries, strong interest groups have rose up and they have spoken out on behalf of the people affected by certain policies in place. Many interest groups were even invited by the government to present their research papers so that they are always in consultation before a legislation is being drafted out.

In fact, there is a fund available for some interest groups to draw on so that their activities can be properly financed.

Our government’s ill-conceived fear that any interest group or society that meddles into politics is harmful to the country has deterred many from risking themselves too much in pursuing after their cause.

After all, most social causes have a political linkage and trying to draw a line between the two is simply too naive.

There is no perfect government in the world and those that function well has learn to listen humbly and try to implement policies that best meet the needs of the general population.

There will always be some that will loathe whatever policies that are being put up by the government but at least it must be seen to have shown enough care and concern before a legislation is being implemented that will affect the general population.

This is one reason why our government is often being labelled as autocratic and uncaring as the country is run like a corporation derived of any compassion and emotion.

Its main aim is to generate as much GDP as possible so that it is seen as doing well when in actual fact, much of the population is living in poverty due to a long period of depressed wages.

Predominant Party System To End Soon?

Though our government is trying to consult the population through mass meet-the-people sessions, there is little to convince the people that their ideas are being implemented. Some have even lamented that such sessions are organised to show that the government has done something to consult with the people even though the legislation is already cooking in the pot unchanged.

Many also ponder if there is going to be a general election coming this year end. The million-dollar question to ask of course is: “Will the opposition make any headway in our PAP-dominated government?”

Some have optimistically predicted that one or even more GRCs may fall to the opposition in the next election due to the very bitter ground that the government is now treading on.

To it’s credit, the government has caught wind of the changing tide and implemented a series of changes to appease the population:

1.The ever-rising property prices were knocked back last month when the government imposed a series of measures to intervene in the property market. Many citizens have complained that they could not buy any resale HDB flats as permanent residents compete aggressively for such housing forcing them to retreat to a corner.

2. Slowing down the influx of foreigners into our country. The government has promised to slow down the intake of foreigners into the country as citizens complained of crowded trains and lack of space at the shopping malls. More importantly, the huge inflow of foreigners mean that local citizens face intense competition for jobs. Some have predicted that the reduction in intake of foreigners may be seen as too-little-too-late as the ramifications of the foreign-talent policy have taken root and many citizens felt very displaced and disenchanted.

3. Knowing that ordinary Singaporeans are very pragmatic people, the government has promised to credit $9,000 to any male citizen who has completed national service into their CPF account. Many netizens believed that this is a desperate vote-snatching gesture which may not work this time round as the money could not be immediately realised as its placed directly into the CPF account for retirement purposes.

Escalating Political Interest Among Voters

Not since Singapore was kicked out of Malaysia in 1965 did political interest reached such a feverish pitch among the populace. Socio-political internet site’ readership gained new highs as Singaporeans tried to stay plugged into the latest happenings. There was also heightened interest among the young voters as they joined opposition parties in droves. However, is this enough to drive political reform in our country?

History has shown that most democratic societies will face changes in governance after a party has dominated for more than fifty years. We all have seen how the powerful Malaysian UNMO party was miraculously deposed of its majority rule by a resurgent PAS in the recent election. PAS now controlled at least half of the states in West Malaysia ensuring that a two-party majority system prevails there.

Mismanagement, talks of widespread corruption in governance and racial politics have all contributed to the political demise of UMNO.

In Japan, the same thing happened when the Liberal Democratic party (LDP), holding office as the governing party for the very long period from 1955 to 1993, was knocked off its perch (source: insideasia.typepad.com).

The party splitted into two factions during a turbulent period and political reform came about when one reformed party managed to break free and formed a coalition government with the opposition.

Political infighting, corruption and a a strong opposition are all factors that led to the downfall of the predominant party system in Japan in 1994.

Many have also predicted that in Singapore, real political reform will only come about when the PAP is splitted into two political factions competing with each other at the polls.

Our weak divided opposition has ensured that the government will remain in power even though there are enough opposition voters out there. Many simply do not have the chance to vote due to the walk-over effect.

It is estimated that at least one out of three voters will cast their vote for the opposition in any contested constituency.

MM Lee Kuan Yew has mentioned this political dynamics before when he commented that there was a split within Parliament as a consensus could not be reached on the issue of voting for two integrated resorts to be placed in Singapore.

Nevertheless, such political reforming looks a tall order here as our Members of Parliament (MP) are tightly controlled and many do not survive more than two elections. The short tenure means that most MPs and even ministers do not have a strong political foothold to do anything out of the ordinary. Our squeaky-clean political environment also does not allow any dissent to generate from the party chambers.

Most could not even vote according to their conscience as the party whip is hardly lifted.

Moreover, it is clear that absolute power is held by a few strongmen in governance. Besides the PM, the current crop of senior ministers such as Minister for National Development, Mr Mah Bow Tan, the two deputy PMs – Mr Teo Chee Yean and Mr Wong Kan Seng, still pull the power strings behind close doors and remain very much in control.

Strongman MM Lee is also a influential figure that could still hold the balance of power if there is a possible conflict within the government.

Singaporeans will perhaps need to wait for at least another generation to pass before real political reform can take place. After all, history has shown that no political power can remain in power for more than 50 years and this must have provide clear relief for those who are young enough to see through the political changes in our country.
 

fivestars

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The finance minister is a cabinet position in a government.

A minister of finance (also called financial affairs, the treasury, the economy, or economic affairs) has many different jobs in a government. He or she helps form the government budget, stimulate the economy, and control finances. The powers of a finance minister vary between governments. Sometimes the finance minister is the most powerful cabinet post. Whereby they are unpopular posts if they must raise taxes or cut spending. The finance minister is responsible to drafts the budget and responsible for economic matters. The Minister primarily responsible for managing the financial risks of the nation. The finance minister is also responsible for financial planning and record-keeping, as well as financial reporting and analysis of data to the parliament house.

National Bankruptcy

National bankruptcy (or national insolvency) is the formal declaration of a government to not pay (repudiation) or only partially pay its debts (due receivables), or the de facto cessation of due payments.

National bankruptcy has historically had three primary causes:

1) Insolvency/over-indebtedness of the state

If a state for economic reasons defaults on its treasury obligations/is not anymore able to handle its debt/liabilities or to pay the interest on this debt it faces national bankruptcy. To declare insolvency it is sufficient if this state is only able to pay part of its due interest or to clear off only part of the debt.
Reasons for this were mostly:
massive increases in public debt
declines in employment and therefore tax receipts
government regulation or perceived threats of regulation of financial markets
National bankruptcy caused by insolvency historically has always appeared at the end of long years or decades of budget emergency, in which the state has spent more money than it received. This budget balance/margin was covered through new indebtedness with national and foreign citizens, banks and states.

2) Change of government

While normally the change of government does not change the responsibility of the state to handle treasury obligations created by earlier governments, nevertheless it can be observed that in revolutionary situations and after a regime change the new government questions the legitimacy of the earlier one and thus defaults on this treasury obligations considered Odious debt.
Important examples are:
default of debts of the Bourbon France after the French Revolution.
default of bonds through Denmark in 1850, which were issued by the government of Holstein instated by the German Confederation.
default of debts of the Russian Empire after the Soviet government came to power in 1917.

3) Decline of the state

With the decline of the state its obligations are turned over to one or several successor states.
Lost wars significantly accelerate national bankruptcies. Nevertheless especially after the Second World War the Government debt has increased significantly in many countries even during long lasting times of peace. While in the beginning debt was quite small the increase due to the Compound interest effect increased it substantially.

Consequences

Creditors of the state as well the economy and the citizens of the state are affected by the national bankruptcy.

1) Consequences for creditors

The most visible effects of national bankruptcy are the complete or partial loss of lent money and/or interests upon.
In this case very often there are international negotiations which end in a partial debt cancellation (London Agreement on German External Debts 1953) or debt restructuring (e.g. Brady Bonds in the 1980s). This kind of agreement assures the partial repayment when a renunciation / surrender of a big part of the debt is accepted by the creditor. In the case of the Argentine economic crisis (1999–2002) the creditors had to accept the renunciation of up to 75% of the outstanding debts.
For the purpose of debts regulation debts can be distinguished by nationality of creditor (national or international), or by the currency of the debts (own currency or foreign currency) as well as whether the foreign creditors are private or state owned.

2) Consequences for state

With national bankruptcy the state disposes off its financial obligations/debts towards its creditors. This naturally leads to lower public spending/a reduction in spending from the public budget to the amount of interest and repayment/redemption.
On the other hand a national bankruptcy always damages the reputation and trust of a state towards the creditors. Hence a state is at least temporarily unable to get new credits from the capital market.

3) Consequences for the citizen

National bankruptcy always means for the private citizen a dramatic devaluation of his monetary wealth, because the private/individual saver is often an important creditor of the state (e.g. government bonds).
More severe is the impact on the national economy. These comprise typically
a banking crisis, as banks have to make write downs on credits given to the state.
an economic crisis, as the interior demand will fall and investors withdraw their money
a currency crisis as foreign investors avoid this national economy

The citizen feels the impact indirectly through high unemployment and the decrease of state services and benefits.
 

kingrant

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In other words, if we can't change the system manually, we just have to wait for Mother Nature to let the old incumbent donkeys drop off like flies.
 
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