A mountain of political capital
Over the last 40 years the Govt has amassed a huge mountain of political capital for bringing development and prosperity to the country and people. This is an undeniable fact. Recently we are seeing the Govt drawing on this capital and spending on matters which no Govt would dare to dream of. Policies and decisions that were often an outright affront to the people were pushed out without a blink of the eye. They may think that they have a lot of political capital to spend. Political capital is very different from a savings account where $1000 spent is $1000k less and the rest remain. A single event or unacceptable decision can cause a mountain of capital to disappear overnight. Getting Chee Hian to announce the 21% pay hike and telling the people that it is not enough and another round is coming is banking too much on his individual political capital and clout. Does Chee Hean has that to carry this through? Yet to see. In my view there is only one man who has earned enough political capital to make such an annoucement and at most get a few bruises. Even Chok Tong is no longer in such a position to make such statements. He has spent all his political capital or his political capital has been spent. The rest of the cabinet, some may have a little capital, but not really that much to get away with outrageous decisions or policies.