14 Sep '11, 2pm

Lee Kuan Yew emphasises importance of balanced budget: SINGAPORE: Former prime minister Lee Kuan Yew has caution...

Lee Kuan Yew emphasises importance of balanced budget: SINGAPORE: Former prime minister Lee Kuan Yew has caution...

SINGAPORE: Former prime minister Lee Kuan Yew has cautioned against using hard-earned reserves to balance the country's budget. He was speaking on Wednesday at a dialogue session organised by the Lee Kuan Yew School of Public Policy to celebrate its seventh anniversary. It was his first dialogue in his new position as "Distinguished Fellow" of the School of Public Policy named after him. Emphasising the importance of having a balanced budget, Mr Lee said: "I hope the prime minister and his Cabinet ensure that Singapore veers on the side of prudence and balance the budget, and not raid on its reserves which have been protected by a separately elected president. "Otherwise you have the opposition saying, 'if you vote for me, I'll give you all these things.' Where will the money come from? Not from taxes, but our reserves. "Then you have to see the president to release the mo...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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