Lawrence Wong: a PM-in-waiting

I’m surprised that the talk cock, sing song academics and other pundit don’t think of Lawrence Wong as a contender to be PM.

Because unlike their favourite, Kee Chui (Why “Kee Chiu” got renamed “Kee Chui”), he knows how to throw smoke when “answering” inconvenient questions

The entire additional S$7.7 billion above the official estimate is being given back to Singaporeans in various ways, instead of just the S$700 million SG bonus, Mr Wong stressed, as he addressed Nominated Member of Parliament (NMP) Azmoon Ahmad’s suggestion for the Government to share more of the unexpected budget surplus.

“We don’t save surpluses.”

I went WTF!

But I had to admire his explanation (OK BS).

“We give them all back to Singaporeans but we give back in different forms,” said Mr Wong in Parliament on Tuesday (Mar 6) during the debate on his ministry’s budget.

“Some will be for spending (on) future needs. Some will be spending for current needs… and some will be through a direct transfer, like the SG bonus,” he added, urging for the surplus to be viewed “in totality”.

Mr Wong cited the setting aside of S$5 billion for a Rail Infrastructure Fund “which will benefit all MRT commuters”, and S$2 billion for premium subsidies and other forms of support when the ElderShield review is complete.

Why Lawrence Wong is wrong on “We don’t save surpluses”
Or rather “We don’t save surpluses” is misleading.
FB post by Chris Kuan

CNA reported Larry the MND and the second MOF as saying all of the $7.7b of additional surplus from the revised 2017 budget overall surplus has been shared with Singaporeans in various ways such as a $5b transfer to the Rail Infrastructure Fund and $2b for Eldershield. Don’t look at the SG bonus in isolation he said. But that is not quite correct, is it? Tell me if I am wrong but this is how I look at it.

If that $7.7b additional surplus had been shared in the 2018 budget, then the 2018 Budget position would not have been a deficit of $0.6b but of $8.3b. After all each Financial Year Budget is based on that FY’s revenues and expenditures plus that FY’s transfers to funds and endowments and its NIR Contribution right? If the $7.7b has been shared with Singaporeans, then the sum of the Budget position for 2017 and 2018 should equal to the original FY 2017 estimate surplus of $1.9b. But that is not the case, the sum is a surplus of $9b (2017’s $9.6b surplus minus 2018’s $0.6b deficit). So how can this be if the $7.7b surplus from the first year is spent or shared in the second year?

The better explanation or rather the truth of the matter may well be that the $7,7b additional surplus has not yet been shared with Singaporeans, It will eventually – just wait for the year before the general election. Of course in fairness to Larry the MND and the 2nd MOF, all that spending on rail infrastructure and Eldershield in 2018 did take place but that is from using up all the revenues and the NIR contributions estimated for the year. Call me pedantic or whatever.

PS: Being transfers to funds and endowments, the $5b allocated to rail and $2b to Edlershield are ofcos not spent all at once but over several years. An important distinction to be aware of given the govie’s propensity to report this kind of expenditures in a single year.

But the fact that Chris Kuan has to go into such detail to show that “We don’t save surpluses” is misleading. shows that Lawrence Wong is a throw smoke specialist, good enough to be PM after Heng’s one term in that post. You heard these predictions here first.

And here’s another one: he’ll be the next Finance Minister. Remember you first heard this here.


Coming back to Kee Chui. If Lawrence has to answer the questions on the need, and the use of reserves, unlike Kee Chui, he would have said something along the lines of what the CEO of Norwaty’s SWF said when he reported a great set of results*
stressed that the good times would not continue forever, warning Norwegians to be prepared for a potential fall in value in the future.
Btw, remember his warning on HDB flats? Why 30-year old HDB flats difficult to sell
*The oil fund separately reported one of the best years in its 20-year history as it returned 13.7 per cent in 2017, helped by booming equity markets. Equities returned almost 20 per cent, while property and bonds also contributed positively. The NKr1tn ($128bn) return was the biggest ever measured in kroner.

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor.

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10 Responses to “Lawrence Wong: a PM-in-waiting”

  • Say lai say kee:

    What the Leedership wants is a seat-warmer figurehead and Lowlang Wong simply doesn’t fits the bill.

    GD Star Rating
  • cb:

    Just return all cPeeF to SillyPoorean @55 except Bt Bodok whom very happy with Botak….hDigBitch not @0 99 as by then the lands ah gong also go back & we shd b compensated with 99yrs accrued interest
    What u think,knnbccb

    GD Star Rating
  • LIONS:

    LW not lee ah long’s top choice.
    Kee chiu is his PET DOG.

    GD Star Rating
  • Bapak:

    What PAP didn’t tell you is “we give them back” in their pockets.

    GD Star Rating
  • cruel step mom disgraceful:

    The whiteshit’s thinking is an open book.
    This Lawrence wrong cannot be the chosen One.
    It is just a red herring.

    A distraction.

    CCS is the one I am cork sure will be the one.
    HSK is not suitable because he is more an administrator than a LEADER.

    He is like a perm sec to CCS.

    GD Star Rating
  • Haigen Diaz:

    Since some detractors are back posting lies again, I’ll post corrections (again). Laugh if you will, but when CI shows up promoting a snake oil huckster, trying to make a buck. You will be sorry. What do you expect? CI plainly is positioning himself as a PAP cheerleader. CI thinks he is part of the elite, but he comes across as intransigent and arrogant. I expect, very sadly, that he will be around for a while. Both (CI and Lawrence, the PM-In-Waiting) have the bombastic nationalism of LKY, but both are actually capable of inflicting the evils of their agenda on those with an IQ above room temperature. This idiot savant would have made it to the first round without CCS, the LOOONG anointed one. Got it?

    GD Star Rating
  • Zhenzidan:

    In your stupid article “Why Kee Chiu got renamed Kee Chui” you try to hide your own stupidity when I exposed it, now saying Kee Chui was to describe CCS because of his verbal gaffes. If I didn’t tell you Chui is mouth in Hokkien, you would have carried on your stupidity by acting and pretending to be smart.

    I remember I did say that you don’t understand Hokkien, but nobody said you must be Hokkien to be Singaporean.(Then all our non-Chinese Singaporeans cannot be Singaporean? Don’t try to make others look stupid like you.) My point is, a hokkien word so widely used in the internet can still be mis-spelled, it shows that you are the biggest “cybernut” as you always like to label others.

    You like to label people as “Cybernut”
    You are the biggest one from the start
    You behave like an old hag with a rotten butt
    Still desperate to go onstage and strut
    Thinking that you can still make the cut
    You felt satisfaction within your heart
    You then start to anyhow fart
    Until the disgusted audience began to depart
    Thinking that they just saw a retard
    Who don’t know how keep his mouth shut

    GD Star Rating
  • HarderTruths:

    When every dollar spent is borrowed into existence and must be paid back with interest, what nonsense is this government talking about surpluses?

    The 70% are beyond stupid – there are no surpluses, no reserves and no way to pay back the government debt.

    The pappies will come for whatever is left in the people’s piggy banks. This will not stop until every citizen is walking around naked.

    GD Star Rating
  • MarBowling:

    LW is sly, sneaky, and has other qualities of a Great LEEder. But too bad, he is not the CHOOSEN ONE(Bugs Bunny Chan) as the Seatwarmer cum 4th Pee-M Period. He can continue to Pee all day LOONG, waiting LOONG LOONG for his turn.

    GD Star Rating
  • kenny:

    This JACKASS have mastered the art of speaking with a forked tongue and smooth talking through his rear end ! ! !
    BEWARE OF HIM ! ! !

    GD Star Rating

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