APR 29, 2011
SDP: How much has GIC lost in bad investments?
By Aaron Low
THE Singapore Democratic Party (SDP) candidate for Holland Bukit Timah GRC, Mr Tan Jee Say, raised the issue of transparency of government funds, saying that people still do not know how much the Government of Singapore Investment Corporation (GIC) has lost in bad investments.
Speaking to a crowd that filled almost three-quarters of a football field at Jurong East stadium, he attacked the Government for not releasing the full figures of its official reserves.
He had been taken to task by Deputy Prime Minister Teo Chee Hean and Community Development, Youth and Sports Minister Vivian Balakrishnan on Thursday for saying that his own $60 billion economic plan for Singapore was 'small change'.
According to his calculations, Mr Tan said that the Government had accumulated hundreds of billions of dollars in surpluses over the last decade and $60 billion was just a small percentage of that.
He also attacked Dr Balakrishnan over the Youth Olympic Games budget, which ballooned by $300 million.
'Manage your own ministry's budget before you criticise other people's figures!' he said.
Mr Tan's running mate Vincent Wijeysingha, 41, also took aim at DPM Teo, who had said that the government reserves were a source of comfort for Singaporeans.
'Teddy bears are for comfort. We need affordable housing, support for our elderly and our young!' said Dr Wijeysingha.
Education was also another hot topic for SDP on Friday night, as speakers hit out at the education system.
Its candidate for Yuhua, Ms Teo Soh Lung, 61, said that the education system has not progressed since she was a child, noting that the class size of about 40 has not changed.
She noted that many parents continued to rely on tuition because they were worried that without tuition, their children would not pass exams.
What does this say about our education system, she asked, challenging her Yuhua PAP opponent Grace Fu for an answer.
SDP: How much has GIC lost in bad investments?
By Aaron Low
THE Singapore Democratic Party (SDP) candidate for Holland Bukit Timah GRC, Mr Tan Jee Say, raised the issue of transparency of government funds, saying that people still do not know how much the Government of Singapore Investment Corporation (GIC) has lost in bad investments.
Speaking to a crowd that filled almost three-quarters of a football field at Jurong East stadium, he attacked the Government for not releasing the full figures of its official reserves.
He had been taken to task by Deputy Prime Minister Teo Chee Hean and Community Development, Youth and Sports Minister Vivian Balakrishnan on Thursday for saying that his own $60 billion economic plan for Singapore was 'small change'.
According to his calculations, Mr Tan said that the Government had accumulated hundreds of billions of dollars in surpluses over the last decade and $60 billion was just a small percentage of that.
He also attacked Dr Balakrishnan over the Youth Olympic Games budget, which ballooned by $300 million.
'Manage your own ministry's budget before you criticise other people's figures!' he said.
Mr Tan's running mate Vincent Wijeysingha, 41, also took aim at DPM Teo, who had said that the government reserves were a source of comfort for Singaporeans.
'Teddy bears are for comfort. We need affordable housing, support for our elderly and our young!' said Dr Wijeysingha.
Education was also another hot topic for SDP on Friday night, as speakers hit out at the education system.
Its candidate for Yuhua, Ms Teo Soh Lung, 61, said that the education system has not progressed since she was a child, noting that the class size of about 40 has not changed.
She noted that many parents continued to rely on tuition because they were worried that without tuition, their children would not pass exams.
What does this say about our education system, she asked, challenging her Yuhua PAP opponent Grace Fu for an answer.
