Budget 2021- Not Enough Stimulus in FY2020, Premature Withdrawal of Aid in FY 2021 and Not Enough Help for Singaporeans
FOR IMMEDIATE RELEASE Inadequate Stimulus in FY2020 In my last blog post, written just before the Budget presentation, I pointed out that the economy had suffered as a […]
Decision To Withhold Civil Servants Year-End Bonuses Shows PAP Government Doesn’t Understand Economics
On November 27 the Public Service Division (PSD) announced that Singapore’s 85,000 civil servants will not receive any year-end bonus this year . This followed the cancellation of the mid-year bonus […]
Heng’s Performance Shows He Would Not Survive If He Was Not Protected from Competition
The main reason I chose to study Economics was that it truly is the Queen of all Sciences. Economics provided the blinding insight that competition leads to the survival of […]
Will He Stay or Will He Go?
I for one have always been sceptical of the assumption that Lee Hsien Loong would step down as PM when he reaches 70. This seems to have originated in a […]
Budget 2016: Stuck in a Car in the Fog. Who to Ask for Directions?
Since 2012 I have pointed out, repeatedly, that the Singapore Budget presentation gives a deeply misleading picture of the Government’s finances. I have written innumerable times on how the Budget does […]
Will Lagarde Join Tharman in the Exclusive Club of Finance Ministers with Criminal Records?
In 2012 I discovered that the Finance Minister had pledged a US$ 4 billion loan commitment backed by our reserves to support a new lending facility for the IMF. This […]
The PAP Government Risks a Deepening Slump Unless They Heed the Reform Party’s Advice and Implement Stimulus Measures We Advocated in 2014
New press release by the Reform Party: The advance estimate for GDP for the second quarter of 2015 came out yesterday. The numbers were much worse than analysts had expected […]
Why Do the Greeks Resoundingly Reject Austerity Yet Singaporeans Embrace It?
On Sunday Greece’s voters overwhelmingly rejected the latest terms offered to them by their Eurozone creditors for rescheduling their huge debt mountain. With Greece’s debt to GDP ratio at 170% […]
Greece’s IMF Default Shows Clearly That the Finance Minister Misled Parliament and the People When He Claimed IMF Lending Carried No Risks
On 30 June 2015 Greece missed a payment of Euros 1.5 billion due to the International Monetary Fund. This was under a Euro 28 billion extended Stand-by Arrangement agreed between […]