Singapore Democratic Party (SDP) candidate Tan Jee Say – who is contesting in the Holland-Bukit Timah Group Representation Constituency – has taken both Deputy Prime Minister and Defence Minister Teo Chee Hean and Dr Vivian Balakrishnan, Minister for Community Development, Youth and Sports, to task after being chided for calling the S$60 billion he had wanted to use from the national reserves “small change”.
The 57-year-old investment adviser picked on Mr Teo’s comment at a People’s Action Party rally on Thursday, when he asked the crowd whether they knew how many zeros there were in S$60 billion.
“Let me ask the honourable minister, did you ask GIC, the Government of Singapore Investment Corporation, and Temasek Holdings how many zeros there were … lost in bad investments?” he said.
“Singaporeans have not been told the true figures of their investment losses. But their refusal to disclose the figures can only mean it was not small. (That money) is lost – but my S$60 billion that I have proposed will remain invested in Singapore schools, hospitals, polyclinics, daycare centres for children and the elderly, business enterprises of our young professionals.”
Mr Tan then turned his attention on Dr Balakrishnan, who had said he was “astonished” by Mr Tan’s “small change” reference. “Why are you so confident that S$60 billion is not small change compared to the national reserves? Do you know the true amount of our national reserves? The late President Ong Teng Cheong asked for the figures but was unable to get it from the Government. They said it would take too long. Do you now have the information? If not, do you think you are right to brush off my comment?”
Mr Tan then shot off a query to Dr Balakrishnan. “Tell us how you overspent the Youth Olympic Games budget by over S$300 million. That to us is not ‘small change’. We are waiting for your accounts. Let me give you a bit of advice: Manage your own ministry budget well first, before you comment about the figures of other people.”
Source : CNA – 30 Apr 2011
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