Financial control over large expenditure

Dr. Mahathir, PM of Malaysia, was unhappy with the large sums that were spent by the previous Najib administration on infrastructure projects. He felt that the sums were excessive and suspected corrupt practices.

He canceled the projects but was prepared to re-negotiate the terms of the contracts. He was able to achieve significant cost savings by changing the original design and getting a better deal from the contractors.

As the PM, he was able to take the top level decision to achieve a better outcome for this country. He was assisted by a capable and trusted aide.

Singapore faces the same challenge. We are also spending too much on our infrastructure projects. Some of these projects were not necessary and could be avoided or cheaper solutions could be found.

We need to have someone at a senior level to take the leadership and decide what is and is not acceptable.

Maybe, we should study from Dr. Mahathir or appoint him as an adviser to the Singapore govt? Just joking, okay?

 

Tan Kin Lian

 

 

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11 Responses to “Financial control over large expenditure”

  • Counsel for realpoliticking:

    The first method for estimating the intelligence of a ruler is to look at the men he has around him … And here comes in the question whether it is better to be loved rather than feared, or feared rather than loved. It might perhaps be answered that we should wish to be both; but since love and fear can hardly exist together, if we must choose between them, it is far safer to be feared than loved.

    - Machiavelli

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  • MarBowling:

    Only the 70% LOVED and FEARED the Husband & Wifey Team!

    The rest 30% is CURSING and PUIING CHOW NUER at them 24/7/365!

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  • Regime change is the solution:

    Singapore focuses on having 1st World infrastructure for the bragging right but keeps Singaporeans on a short-leash, living hand-to-mouth, dependent on government generosity and handouts, stupid and spineless while the bigshots are paid obscene salaries without real accountability and almost impossible to remove.

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  • Bapak:

    Just like that blurgger oops blogger Nas said the reasons he moves to Singapore, in other countries he saw too much shit under the table & corruption. Unfortunately, this blurgger oops again blogger haven’t seen what are under the carpet and haven’t known what is legal corruption here.

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  • N.Jungne:

    Finally, who owns it, is very important. Who arh? Not you nor me.

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  • Appendix to Realpolitiking:

    Feed the greed of elite circle to gain their pseudo-love. Other than that, instill fear and put an economic yoke on the necks of the dispensables. It doesn’t matter if they are bonafide educated middle-class Singaporeans, we can import masses from the whole borderless world.

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  • Great Asia:

    China is building an Africa-Europe-Asia intercontinental economic corridor, and Dr M has just cut Singapore from it. In future, if you want to take high-speed train ride, you would have to cross over to Malaysia.

    Shallow bananas man still praising Dr M?!

    Ha ha ha!

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  • Bad Boy:

    By flight also can.

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  • LIONS:

    Even as i applaud Dr M for his austerity ,i think he should consider a HSR between our two countries.
    Cost can n shud be CONTROLLED.
    WE DI NOT NEED *JEWEL* RAILWAY,A PLAIN UTILITARIAN HSR WOULD SUFFICE.

    HSR WOULD BENEFIT BOTH MALAYSIANS N SINGAPOREANS OVER THE LONG RUN

    EVEN BETTER IF DR M CAN CONSIDER TO LET SGS TRAVEL MORE CONVENIENTLY TO MALAYSIA OR *SETTLE* THERE.
    IF GOOD SGS CAN SETTLE MORE CONVENIENTLY IN MALAYSIA,IT WOULD BOOST THE MALAYSIAN ECONOMY TREMENDOUSLY.
    BUT,THE SECURITY THAT WORKS AGAINST SGS,MALAYS EVEN IS A BIG NEGATIVE;IF ONLY MALAYSIANS RECEIVE sgs as well as we receive them in SG.
    WHO STILL SAY SGS ARE XENOPHOBIC?
    IF THEY DO,MINISTER SHANMUGUM SHUD GO AFTER THEM,BE IT OTHER MINISTERS,MPs or MSM???

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  • no alliance no talk:

    LIONS:

    no alliance no talk

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  • HarderTruths:

    A government that is facing a financial crisis does two things – tax the people as much as it can to offset as much debt as possible debt and carry out money printing to meet its debt incurred by deficit spending.

    Printing money to enable deficit spending is necessary to give the illusion that GDP is rising. All that happens is that inflation soars, wealth gets transferred from the ordinary citizen to the banks and government gets to raise salaries.

    $G’s M1 (printed) money supply from OECD figures) was $50 billion in 2007. The M1 money supply in 2018 was $185 billion. In other words inflation should be up at least 3.5 times since 2007 levels, if not more. There is no real production increase just printing money to pay the outstanding bills.

    https://tradingeconomics.com/singapore/money-supply-m1

    All these projects are necessary to the government to declare high GDP paid for by inflation and wealth transfer. There is no magic – just bankers doing their work.

    Stopping projects just crashes the economy – there is no real work for all those government linked companies and FT. Continuing projects this way will also crash the economy when locals cannot meet debt or living obligations.

    Sooner or later one or the other will happen.

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