Lee Hsien Loong: Every dollar counts

With rising expenditure, every dollar counts. 

The NIR (Net Investment Returns) Framework allows the Government to treat 50% of net investment returns from GIC, MAS and Temasek Holdings as revenue for budget spending. 

This year's budget of $70 billion is propped up by about $14 billion from net investment returns derived from reserves. 

This means $1 out of every $5 that the Government is spending in this budget comes from income from our reserves.

These facts debunk the lies spread by Chee Soon Juan and SDP that the government hoards the billions in Temasek and GIC.

The Singapore Government is a prudent government.

While others spend first and then look for the money to fund their spending, the Singapore Government's approach to spending is to set aside money for future spending and then spend from what has been set aside.

This ensures the Government's ability to fulfil their obligations and also the sustainability of the schemes and programmes rolled out.

Examples:
PG Package
Medifund Endowment Fund
Edusave Endowment Fund
Senior Mobility and Enabling Fund
Comcare Fund

By setting aside money for future spending, the Government also ensures that future generations will not be burdened.

In good years where there are surpluses, the Government also makes transfers to Endowment and Trust funds to build them up.