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http://yawshinleong.blogspot.com/2008/11/handle-taxpayers-monies-with-caution.html
Handle Taxpayers’ Monies with Caution
I refer to TODAY’s article ‘Dr Teo says be thankful’ (19th Nov 2008)
After my 2 days NS- refresher training course, I have the opportunity to catch up with my newspapers readings. I read with great distress how $16 million dollars of taxpayers’ monies were loosely described as ‘a mere couple of percentage’ by the PAP parliamentarians. I am sure we can still recall a particular ‘peanuts’ comment...
The response given by Dr Teo Ho Pin (my MP) explaining off the potential $8 million loss by his Holland-Bukit Panjang Town Council was particularly disturbing. He said ‘they (residents) should thank the Town Council for working hard to come up with a diversified portfolio to generate income so that residents do not have to fork out more money’
Dr Teo’s response personified PAP’s arrogance at its best. Had it been so fantastic, despite the sc/cc hike freeze, why are our sc/cc charges by PAP town councils are still on the high side? Refer to an Asiaone article on this issue here.
Also Dr Teo’s comments were particularly upsetting to me at the personal level. Reason being, it is a sore reminder of my GE06 vote to Dr Teo based on my shallow personal liking for him. Read my earlier blog post on this issue here.
It is true that nobody could have possibly predicted about the financial tsunami that has swept across the globe, affecting even ordinary people in the streets. It is also true that nobody with hindsight would want to lose their hard-earned monies.
However whether it is $1 dollar or $16 million, all monies that originate from taxpayers must be handled with prudence and caution. Under all circumstances, capital guaranteed investments should be chosen in place of non-capital guaranteed high-risk investments. From my understanding, this is the prudent practice undertaken by the Hougang Town Council.
The series of major blunders made by the PAP over the last few months, once again reminded fellow Singaporeans (myself included) that we must not take for granted that past performances are indicative of future ones.
It is therefore highly critical for us Singaporeans to build up political insurance, (specifically by voting in WP candidates) in the coming GE against future PAP’s arrogance and excessiveness.