Notable quote by Hsien Loong
‘Drawing on our reserves should only be an absolutely last resort’ Lee Hsien Loong
Hsien Loong cautioned against the worsening world economy and that the govt may have to dip into the reserves again. But this will only be done as an absolutely last resort thing.
I also remember Leong Sze Hian saying that during Nathan’s term as President, the reserves were used for something like 29 times. Correct me if I have misquoted Leong Sze Hian. I think my memory is still ok and I am not suffering from dementia. And one of the reasons for using the reserves was for SERS, en bloc resettlement of HDB flats. True or not!
Pulling down old flats to build new ones is so serious that our reserves were used. Must be absolutely last resort or else something serious would happen to our economy or maybe the new immigrants will go rioting for not having a place to live.
If SERS scheme could justify for the use of the reserves, what else can’t? I think I must have heard wrongly, and there is absolutely nothing wrong with my dementia. Hearing problem? Maybe.