Revenue from land sales is not revenue? Not a cent can be spent?

Singapore does not have a budget deficit: More than $10 bil from land sales annually is not classified as budget revenue.

PAP claims this is under our Constitution but if constitutional amendments without a referendum could be made to reserve the presidency for certain races, why not reclassify a portion of land sales as revenue?

Will spending a couple of billion$ to resolve chronic ageing population issues doom Singaporeans’ future?

Why does PAP keep insisting on channeling 100% in land sales revenue – more than $10 billion annually – to GIC?

 

Phillip Ang

* The author blogs at LikeDatOsoCanMeh.

 

 

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12 Responses to “Revenue from land sales is not revenue? Not a cent can be spent?”

  • This is STUPID CRAZY, SINGAPOR:

    IMO, if money incoming is not a revenue, then it’s as good as being stolen. The People are taken for a ride.

    How can we allow PAPi Mandate to Leegalize the diversion of the country money to Husband and Wife control without any additional benefits to the People at all?

    The account is so secret. Furthermore the President is “Selected” by them and not through the Peoples’ election. Hence how to positively differentiate frauds in disguise? Example pump in money to patch up BIG losses and still camouflaged as positive return? but benefits to the people are so less and remain the same, regardless of the amount of money pumped in?

    So one should ask the MiloIndianCumMalay if she knows;
    1. All Sources of incoming;
    2. How of those are not classified as revenues.

    No wonder they continue to heartlessly tax the People.

    We have to VTO to check all the accounts, really. I don’t trust the MiloIndianCumMalay to be able to perform the job selected by the People she needs to watch.

    This is STUPID CRAZY, SINGAPORE.

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  • NotMyProblem:

    “Why does PAP keep insisting on channeling 100% in land sales revenue – more than $10 billion annually – to GIC?”

    For their salary. $10 billion is about right!!

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  • problem of a pliant parLEEment:

    PAP claims this is under our Constitution …

    there are many things wrong under clown pap.

    every illegal matter anywhere else in the world, including former najib BN, is legalized by clown pap. they loudly proclaim legality under Constitution when in the heart of hearts they know it is legalized theft mostly.

    look at pap PA. it is actually another name for 1MDB since it is funding clown pap for political advantage. it even encourages legalized corruption by awarding T-shirt contracts to c cc ccc cccc ccccc chairmen chairwomen who lend their names to clown pap, national day medals as additional bonus.

    when New Government forms, and everything is thrown open for review, 70% sheep shall realize the extent of the current rot under clown pap, all by facade legal when in truth illegal.

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  • rukidding:

    We can CHANGE it !

    All you need to do is “VOTE FOR OPPOSITIONs” to “Displaced THEM OUT” !

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  • RDB:

    Both Temasek & GIC lose billions. Where to get other sources for replacement?

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  • Calling a spade a spade:

    State Revenue goes towards expenditures in governing Singapore for the well being of ordinary Singaporeans. But transference of land sales funds into GIC’s coffers accrues to the capital pond of its corporate executive officers in operating the GLCs.

    So the problematique is this: That GIC CEO salaries are classified as state secret; while the bulwark of land sales issues from HDB home buyers who almost without exception drain their exorbitant payments from their hard earned CPF retirement savings.

    Cash poor surely, but asset rich commoners? Smells capriciously of corporate avarice at the expense of national interests. It boils down to the moral character of individual players, does it not?

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  • NotMyProblem:

    rukidding:
    We can CHANGE it !

    All you need to do is “VOTE FOR OPPOSITIONs” to “Displaced THEM OUT” !

    There are 7 out of 10 working adult Singaporeans holding a degree of every kind and the rest with other qualification. Malaysia has less than half of this, but they sensed something happened in 1MDB and quickly kick out the Number One Official. This they are very smart.

    You think we can do better to take back the country for our children and grandchildren. If Singaporeans are smart as Malaysians, Singaporeans can start to know what happened in our Reserve, CPF, GIC, GLC, Temasick and how much taxpayers are paying these CEOs.

    Let’s just hope we are smarter!!

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  • Dr. Chan:

    How come PAP can sell same piece of land so many times (sell, take back, recycle, sell again, again and again)? Also how can sell air-spaces (HDB flats) including land costs, many multiple times over, when the 99 years Tenants don’t even really own the land?
    Is this a scam or fraud? How does this make any sense?

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  • easiest job on earth:

    miws,are not working hard …just stealing from peasants thro cpfunds n taxing taxing taxing to highest heaven.
    easy job..

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  • HarderTruths:

    Nothing in there. All gone.
    Aging population die c*ck stand.
    Next please…

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  • LIONS:

    PAPPY scholars only good at screwing sgs by LAW(BY FORCE) AND then get $CREWED BIGLY BY OUTSIDERS.

    HAHAHA,WHAT A BUNCH OF DAFTS!

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  • We Are Not Stupid:

    Gambling money always need the top up. Huge salaries need money.
    So much was lost in tikum tikum investment, where you think the money come from?
    Investment gains go to private bonuses, losses come to you,
    isn’t this is a heavenly deal for crooks?

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