19-08-2021, 07:10 PM
Quote:
- Finance Minister Heng Swee Keat said the government is expected to tap 53.7 billion Singapore dollars ($40.6 billion) from its reserves to fund Covid support measures in 2020 and 2021.
We don't know if this is a 2yr event or 8yr event.
If we keep tapping our reserves how long can it last.
Not that I am a big fan of protecting the reserves overzealously, I tend to agree that it should be used during times like this to stop suffering among the people.
1. Use most of it as unemployment benefits for those who are previously low income and have little savings.
2. Do not give too much in way of rental rebates because it goes to landlords ..and ultimately benefit banks if the landlord is using it to pay debts. Much of such problems can be solve through a debt moratorium....
3. Some small businesses are better off closing and reopening later. Trying to sustain them may nit be a good idea.
4. Govt has to cut down on non essential spending like buying expensive military ware like F35. The whole region is cutting defense spending so there is no logic for us to overspend here when the arms race in the region will go in reverse into arms reduction for many yrs ..given the high debt burden of neighboring countries.