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Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion?

Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion? It depends on the accounting treatment.

This is my opinion.

The SG govt adopts two unusual accounting methods.

1. Sale of land, mostly 99 year leases, are not taken as govt revenue. Instead, it disappears as transactions involving “past reserves”.

2. Large transfers are made from surplus towards special funds, such as Edusave, hence reducing the surplus.

These unusual accounting methods are not adopted by most countries, and are not endorsed by international financial bodies.

If the generally accepted accounting treatments are adopted, it is likely that the surplus will be closer to the “structural surplus” of $30 billion stated by Mr. Yeoh Lam Keong.

Now, I wait to get a POFMA.

 

Tan Kin Lian

 

 This space is reserved for POFMA notice.

 

 

yyy
READER COMMENTS BELOW

12 Responses to “Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion?”

  • P Against People:

    The actual is likely $100 billion. Really.

    This gov has many pockets. Some pockets are shown, e.g., shifting from left pocket to right pocket. Some pockets are not shown, e.g. back pockets. Finally, the gov opens the chest pocket and claims surplus is only very small.

    Some people look only at the 2 billion budget surplus.
    Some look further, at the land sales.

    Why stop there? There are many other streams of profit that the gov don’t report to us. Look at CPF. How many billions is the gov profit every year?

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  • only stupid people vote pap:

    the actual number is S$20B.

    S$20B is the yearly structural surplus that pap hides from sinkies.

    so that pap can raise GST to make the yearly structural balance S$30B by 2030.

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  • caroline:

    “Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion? It depends on the accounting treatment.

    This is my opinion.

    The SG govt adopts two unusual accounting methods.

    1. Sale of land, mostly 99 year leases, are not taken as govt revenue. Instead, it disappears as transactions involving “past reserves”.

    2. Large transfers are made from surplus towards special funds, such as Edusave, hence reducing the surplus.

    These unusual accounting methods are not adopted by most countries, and are not endorsed by international financial bodies.”

    Offloading huge amount of money to elsewhere and then say money not enough, and ask for more money by using law?
    Isn’t this sound like a scam ? Suka-suka change rule as they like to suit themselves? It is even better than corruption when done publicly and LEEgally.

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  • idontbelieveinccpbs:

    How come TKL sounds so logical when he not discussing China?

    LOL

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  • Stupid Singaporeans Vote PAP:

    POFMA, I say you are wrong you are wrong & I don’t have to prove it, also not in many countries except NK & its neighbour.

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  • xoxo:

    No lah!
    The G always has a BUDGET DEFICIT.
    Thats WHY they keep COLLECTING MORE MONEY?

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  • Be Generous:

    Singapore can be a bit more generous to the poor and the sick.
    Singapore can afford it.
    Have a heart to those who are suffering from the high cost of living here.
    Times are bad for many.

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  • Cancel the PAP:

    caroline:
    “Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion? It depends on the accounting treatment.

    This is my opinion.

    The SG govt adopts two unusual accounting methods.

    1. Sale of land, mostly 99 year leases, are not taken as govt revenue. Instead, it disappears as transactions involving “past reserves”.

    2. Large transfers are made from surplus towards special funds, such as Edusave, hence reducing the surplus.

    These unusual accounting methods are not adopted by most countries, and are not endorsed by international financial bodies.”

    Offloading huge amount of money to elsewhere and then say money not enough, and ask for more money by using law?
    Isn’t this sound like a scam ? Suka-suka change rule as they like to suit themselves? It is even better than corruption when done publicly and LEEgally.

    Crooks ARE VERY VERY deadly in SG – they make use of POFMA to kill people’s opinions BUT refused to tell the true facts, why.

    In SG political crooks MANIPULATE laws, even changed people’s race to suit their aggenda.

    Loosing 1000s of SGpns money hid behind, ‘no this no that’. In the end the very famous MBT quote, of, ‘the PAP Administration CANNOT GUARANTEE each flat applicant his choice flat of his location’ WILL COME SEVERELY and SCREW SGpns BIG TIME even the PAP sheeps still vote them.

    How is this for a Moving Forward SG?

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  • Dr. Chan:

    The amount of Government surplus does not directly benefit the people.
    Actually, the bigger the Government surplus, means the more money they suck from the people – making people’s life even harder.

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  • Dr. Chan:

    The amount of Government surplus does not directly benefit the people.
    Actually, the bigger the Government surplus, means the more money they suck from the people – making people’s life even harder.

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  • The Bavarian illuminati:

    P Against People:
    The actual is likely $100 billion. Really.

    This gov has many pockets. Some pockets are shown, e.g., shifting from left pocket to right pocket. Some pockets are not shown, e.g. back pockets. Finally, the gov opens the chest pocket and claims surplus is only very small.

    Some people look only at the 2 billion budget surplus.
    Some look further, at the land sales.

    Why stop there? There are many other streams of profit that the gov don’t report to us. Look at CPF. How many billions is the gov profit every year?

    The real values are are in the 3 digit billions however this figure is kept a secret so that the sgd does not appreciate against western countries currencies. In other words the rest of the world and international financial organisations are kept in the dark

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  • PAP mandate strong:

    @ Be Generous:

    If you look at spat between ex couple Taiwan Big S and China 汪小菲. Their bed cost hundred thousands of dollars. Big S return bed to 汪 but instead of putting it to good use or donate it, he rather destroy it. ( not sure latest news of bed is a fake true or not ) In ang mo countries sometime can arrange for auction.

    Wow A few Hundred thousand dollars bed can buy one hdb liao or maybe pay up half.

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