Government is ready to tap the reserves again if situation worsens in the coming months
By Lim Yan Liang, Assistant Political Editor, The Straits Times, 28 Mar 2020
While the economic challenge caused by the coronavirus outbreak is very grave, the Government will do "whatever it takes" to stabilise the economy, preserve jobs and help companies stay afloat, Prime Minister Lee Hsien Loong said yesterday.
"We want to see people through this; we are under no illusions that this is the end of the story because nobody can tell what lies ahead," PM Lee said at the Istana as he spoke on the $48.4 billion supplementary budget that Deputy Prime Minister Heng Swee Keat unveiled on Thursday.
The country yesterday, 27 March, reported 49 new coronavirus cases, taking the total to 732, including a new cluster of three at SingPost Centre in Eunos.
Giving a sense of the fast-changing situation, PM Lee said the Government had thought the measures contained in the Budget presented on Feb 18 would buy a few months of time for it to assess the situation and put together a second package.
"But we did not expect within one month, the picture was totally changed - the health picture was totally changed, the economic picture was totally changed," he said.
This is why the Government also completely changed its policy response and set aside a further $48.4 billion to support businesses, workers and families - a supplementary budget that is more than seven times the initial $6.4 billion worth of measures to cushion the COVID-19 fallout.
While the combined $55 billion to combat the coronavirus is intended to see the country through the end of the year, Singaporeans must brace themselves for things to worsen in the coming months, said PM Lee.
In such a scenario, the Government is prepared to tap the reserves again. "We have the dry powder," he said. "If we need to do more, when we need to do more, we will do that down the road."
PM Lee noted that economies around the world have been drastically hit and, as an open economy, Singapore has been particularly affected by the flow of goods and people reaching a standstill.
"It is going to last quite a long time: It is not a V-shaped down dip, it is not a U-shaped dip," he warned.
"If you are lucky, you can sustain it at a diminished level for quite a long time; if you are not lucky, it will keep on going down, and some pieces (of the economy) are going to have a lot of difficulty, just staying in existence."
The Government's aim is very clear, he said - to protect jobs and help companies stay in business by reducing their costs. Key industries like aviation will be helped so they can "continue in semi-suspended animation, but able to come back to life when the opportunities come".
"There will be ups and downs," he said. "Therefore, it is critical that we go into this eyes open, (with) strong leadership, good government, united and determined to see this through."
On the next general election, PM Lee said the slim odds of the situation improving in the next few months mean he has to decide whether to call polls "under abnormal circumstances".
"It is a very difficult decision because we are going into a very big storm and you want to have the strongest team and mandate, and the longest runway so that Singapore can have the best leadership to see it through this storm," he said.
"That is a very desirable - and in fact an essential - requirement for us to see through this together."
The Internet and social media mean communications can still flow even though large-scale gatherings have been curtailed, he added. Israel held its own elections recently, despite the outbreak.
PM Lee said he would decide once procedures are in place, including electoral rolls being certified and republished.
"Once that is done, that means all possibilities are there," he said. "I will have to judge the situation."
By Lim Yan Liang, Assistant Political Editor, The Straits Times, 28 Mar 2020
"We want to see people through this; we are under no illusions that this is the end of the story because nobody can tell what lies ahead," PM Lee said at the Istana as he spoke on the $48.4 billion supplementary budget that Deputy Prime Minister Heng Swee Keat unveiled on Thursday.
The country yesterday, 27 March, reported 49 new coronavirus cases, taking the total to 732, including a new cluster of three at SingPost Centre in Eunos.
Giving a sense of the fast-changing situation, PM Lee said the Government had thought the measures contained in the Budget presented on Feb 18 would buy a few months of time for it to assess the situation and put together a second package.
"But we did not expect within one month, the picture was totally changed - the health picture was totally changed, the economic picture was totally changed," he said.
This is why the Government also completely changed its policy response and set aside a further $48.4 billion to support businesses, workers and families - a supplementary budget that is more than seven times the initial $6.4 billion worth of measures to cushion the COVID-19 fallout.
While the combined $55 billion to combat the coronavirus is intended to see the country through the end of the year, Singaporeans must brace themselves for things to worsen in the coming months, said PM Lee.
In such a scenario, the Government is prepared to tap the reserves again. "We have the dry powder," he said. "If we need to do more, when we need to do more, we will do that down the road."
PM Lee noted that economies around the world have been drastically hit and, as an open economy, Singapore has been particularly affected by the flow of goods and people reaching a standstill.
"It is going to last quite a long time: It is not a V-shaped down dip, it is not a U-shaped dip," he warned.
"If you are lucky, you can sustain it at a diminished level for quite a long time; if you are not lucky, it will keep on going down, and some pieces (of the economy) are going to have a lot of difficulty, just staying in existence."
The Government's aim is very clear, he said - to protect jobs and help companies stay in business by reducing their costs. Key industries like aviation will be helped so they can "continue in semi-suspended animation, but able to come back to life when the opportunities come".
"There will be ups and downs," he said. "Therefore, it is critical that we go into this eyes open, (with) strong leadership, good government, united and determined to see this through."
On the next general election, PM Lee said the slim odds of the situation improving in the next few months mean he has to decide whether to call polls "under abnormal circumstances".
"It is a very difficult decision because we are going into a very big storm and you want to have the strongest team and mandate, and the longest runway so that Singapore can have the best leadership to see it through this storm," he said.
"That is a very desirable - and in fact an essential - requirement for us to see through this together."
The Internet and social media mean communications can still flow even though large-scale gatherings have been curtailed, he added. Israel held its own elections recently, despite the outbreak.
PM Lee said he would decide once procedures are in place, including electoral rolls being certified and republished.
"Once that is done, that means all possibilities are there," he said. "I will have to judge the situation."
Strongest team and mandate needed to see Singapore through COVID-19 pandemic: PM Lee Hsien Loong
He says General Eelection timing is a very difficult decision, but holding it during outbreak can be done
By Lim Yan Liang, Assistant Political Correspondent, The Straits Times, 28 Mar 2020
Singapore is facing a very big storm and it needs the strongest leadership team with the strongest mandate to see it through the COVID-19 crisis, Prime Minister Lee Hsien Loong said yesterday.
This team will also need "the longest runway so that Singapore can have the best leadership" to overcome the pandemic, he said in an interview at the Istana.
"That is a very desirable, and in fact essential, requirement for us to see through this together," PM Lee said.
Asked how he will decide on when to call the general election (GE), PM Lee said "it is a very difficult decision". The ideal situation is that the coronavirus outbreak will settle within the next six months, and an election can be held then, he said.
"But nobody can say. It may well get worse, and I expect it can easily get worse before it gets better," said PM Lee, noting that the situation may take a year or two before it normalises. The GE must be held by April next year.
"You have to make a judgment in this situation with an outbreak going on, with all sorts of exceptional measures implemented in Singapore, is it possible for us to conduct an election and to get this done so that we clear the decks and we can go through and deal with whatever lies ahead?" he added.
PM Lee noted that holding an election would be difficult in a state of general shutdown, such as that in the United Kingdom, as the logistics of getting ballot boxes in place and voting would not be easy.
"But short of that situation, even when you have restrictions and some safe distancing measures, life still goes on: People are working, people can travel, people can conduct the polls," he said.
He cited how countries like Israel have carried out elections recently, as has the United States, where most states carried on with primary elections.
Social media and the Internet mean that while the situation might not be ideal, communicating messages is much more convenient than in the past, and an election can carry on with appropriate measures in place, he said.
"So, these are, to a large extent, solvable problems," PM Lee said.
"You have to think of solutions for them, but it can be done, and I think that we have to weigh conducting an election under abnormal circumstances against going into a storm with a (government) mandate which is reaching the end of its term," he said. "I would not rule any possibility out."
Changes to electoral boundaries were announced two weeks ago, fuelling expectations that the next GE would be held within the next few months.
In an earlier Facebook post, PM Lee had said the elections can be called only after the electoral registers are updated, and that this would take about a month. The final Registers of Electors will be officially certified after April 14.
"Once that is done, that means all possibilities are there. I will have to judge the situation," he told reporters yesterday.
On how the fourth-generation leaders have handled the COVID-19 response, PM Lee said he is very happy to have placed National Development Minister Lawrence Wong and Health Minister Gan Kim Yong in charge of the multi-ministry task force tackling the virus.
Deputy Prime Minister Heng Swee Keat, who is advising them, has also been instrumental in putting together the Unity Budget and supplementary Resilience Budget, said PM Lee.
The people have seen them answer questions and deal with emergency situations such as runs on food and big outbreaks, he said.
"They have gained experience and confidence, and I believe that they have also gained in trust and rapport with the people," he said. "It is a formative experience for the population and the leadership."
While the Pioneer Generation "were born in a crucible of fire" and brought Singapore through independence, separation and forward, and the Merdeka Generation played a big part in buttressing those foundations, Singaporeans have for decades not experienced major tumult, said PM Lee.
"We regularly tell people Singapore is fragile, what we have achieved is precious, we have to continue to work hard, and it can disappear in a moment if you take your eye off the ball," he said.
"People listen to us, but in the back of their mind they do wonder if it is true or not. After all, the show has gone on for so many years; maybe you can go on autopilot."
COVID-19 has shown everyone that the threat against Singapore's way of life is deadly serious, he said.
"It is absolutely existential - life and death - it is not masak masak (Malay for playing around).
"(But) if you come through this, you have more than one generation settled, knowing what Singapore is about."
He says General Eelection timing is a very difficult decision, but holding it during outbreak can be done
By Lim Yan Liang, Assistant Political Correspondent, The Straits Times, 28 Mar 2020
Singapore is facing a very big storm and it needs the strongest leadership team with the strongest mandate to see it through the COVID-19 crisis, Prime Minister Lee Hsien Loong said yesterday.
This team will also need "the longest runway so that Singapore can have the best leadership" to overcome the pandemic, he said in an interview at the Istana.
"That is a very desirable, and in fact essential, requirement for us to see through this together," PM Lee said.
Asked how he will decide on when to call the general election (GE), PM Lee said "it is a very difficult decision". The ideal situation is that the coronavirus outbreak will settle within the next six months, and an election can be held then, he said.
"But nobody can say. It may well get worse, and I expect it can easily get worse before it gets better," said PM Lee, noting that the situation may take a year or two before it normalises. The GE must be held by April next year.
"You have to make a judgment in this situation with an outbreak going on, with all sorts of exceptional measures implemented in Singapore, is it possible for us to conduct an election and to get this done so that we clear the decks and we can go through and deal with whatever lies ahead?" he added.
PM Lee noted that holding an election would be difficult in a state of general shutdown, such as that in the United Kingdom, as the logistics of getting ballot boxes in place and voting would not be easy.
"But short of that situation, even when you have restrictions and some safe distancing measures, life still goes on: People are working, people can travel, people can conduct the polls," he said.
He cited how countries like Israel have carried out elections recently, as has the United States, where most states carried on with primary elections.
Social media and the Internet mean that while the situation might not be ideal, communicating messages is much more convenient than in the past, and an election can carry on with appropriate measures in place, he said.
"So, these are, to a large extent, solvable problems," PM Lee said.
"You have to think of solutions for them, but it can be done, and I think that we have to weigh conducting an election under abnormal circumstances against going into a storm with a (government) mandate which is reaching the end of its term," he said. "I would not rule any possibility out."
Changes to electoral boundaries were announced two weeks ago, fuelling expectations that the next GE would be held within the next few months.
In an earlier Facebook post, PM Lee had said the elections can be called only after the electoral registers are updated, and that this would take about a month. The final Registers of Electors will be officially certified after April 14.
"Once that is done, that means all possibilities are there. I will have to judge the situation," he told reporters yesterday.
On how the fourth-generation leaders have handled the COVID-19 response, PM Lee said he is very happy to have placed National Development Minister Lawrence Wong and Health Minister Gan Kim Yong in charge of the multi-ministry task force tackling the virus.
Deputy Prime Minister Heng Swee Keat, who is advising them, has also been instrumental in putting together the Unity Budget and supplementary Resilience Budget, said PM Lee.
The people have seen them answer questions and deal with emergency situations such as runs on food and big outbreaks, he said.
"They have gained experience and confidence, and I believe that they have also gained in trust and rapport with the people," he said. "It is a formative experience for the population and the leadership."
While the Pioneer Generation "were born in a crucible of fire" and brought Singapore through independence, separation and forward, and the Merdeka Generation played a big part in buttressing those foundations, Singaporeans have for decades not experienced major tumult, said PM Lee.
"We regularly tell people Singapore is fragile, what we have achieved is precious, we have to continue to work hard, and it can disappear in a moment if you take your eye off the ball," he said.
"People listen to us, but in the back of their mind they do wonder if it is true or not. After all, the show has gone on for so many years; maybe you can go on autopilot."
COVID-19 has shown everyone that the threat against Singapore's way of life is deadly serious, he said.
"It is absolutely existential - life and death - it is not masak masak (Malay for playing around).
"(But) if you come through this, you have more than one generation settled, knowing what Singapore is about."
Schools stay open, but Govt keeping close watch
By Lim Yan Liang, The Straits Times, 28 Mar 2020
The Government is keeping a close eye on the COVID-19 situation even as it is keeping schools open because those who will be most disadvantaged by their closure will be students from lower-income families, said Prime Minister Lee Hsien Loong.
Already, the Ministry of Education (MOE) has said that long-term absenteeism rates have crept up because support activities such as enrichment classes have been cancelled, he told reporters yesterday.
Noting that some have asked why schools here are not being closed like in countries such as Japan, he said the Government's approach is to confine and eliminate individual clusters rather than shut the whole system, he said.
"We should look at schools as individual schools rather than one whole system, just as we look at workplaces as individual workplaces, rather than one whole work system," he explained.
He recounted that he had received feedback from a student taking her O levels this year.
"I explained to her why it was, that actually schools can be safe places, and schools provide a very important service, which helps the kids and helps their parents.
"If you do not have them open, it does not mean that your problem has gone away because where do the kids go?" he said.
Families with good support structures can look after their children at home, but there are parents who are unable to be home with their children, he added.
"They may run down to the video arcade, or to the shops and roam around, and may face even more risk of catching COVID-19 than if they were in a controlled environment in school," he said.
Schools are also where children from less advantaged backgrounds have a chance to level up, as they get to socialise, go for enrichment classes and be guided by teachers, he added.
When parents are unable to make up for these missed moments at home, "the kid is going to be put at a disadvantage", said PM Lee.
The Government, he said, is monitoring the school situation closely, especially in the wake of some employees at the PCF Sparkletots pre-school in Fengshan and Dover Court International School getting infected by the virus.
Yesterday, MOE announced that all schools will conduct home-based learning once a week.
Also, dismissal times will be staggered, it added.
Related
Wuhan virus: Singapore has to stay vigilant, but has every reason to be confident, says PM Lee Hsien Loong
Fear and panic can do more harm than coronavirus: PM Lee Hsien Loong
PM Lee Hsien Loong doesn’t rule out recession as coronavirus outbreak hits Singapore’s economy hard
COVID-19 situation is serious but under control in Singapore: Prime Minister Lee Hsien Loong
Tide yet to turn for coronavirus situation in Singapore, says PM Lee Hsien Loong in an interview with The Australian newspaper
$48 billion Resilience Budget to combat impact of COVID-19
By Lim Yan Liang, The Straits Times, 28 Mar 2020
The Government is keeping a close eye on the COVID-19 situation even as it is keeping schools open because those who will be most disadvantaged by their closure will be students from lower-income families, said Prime Minister Lee Hsien Loong.
Already, the Ministry of Education (MOE) has said that long-term absenteeism rates have crept up because support activities such as enrichment classes have been cancelled, he told reporters yesterday.
Noting that some have asked why schools here are not being closed like in countries such as Japan, he said the Government's approach is to confine and eliminate individual clusters rather than shut the whole system, he said.
"We should look at schools as individual schools rather than one whole system, just as we look at workplaces as individual workplaces, rather than one whole work system," he explained.
He recounted that he had received feedback from a student taking her O levels this year.
"I explained to her why it was, that actually schools can be safe places, and schools provide a very important service, which helps the kids and helps their parents.
"If you do not have them open, it does not mean that your problem has gone away because where do the kids go?" he said.
Families with good support structures can look after their children at home, but there are parents who are unable to be home with their children, he added.
"They may run down to the video arcade, or to the shops and roam around, and may face even more risk of catching COVID-19 than if they were in a controlled environment in school," he said.
Schools are also where children from less advantaged backgrounds have a chance to level up, as they get to socialise, go for enrichment classes and be guided by teachers, he added.
When parents are unable to make up for these missed moments at home, "the kid is going to be put at a disadvantage", said PM Lee.
The Government, he said, is monitoring the school situation closely, especially in the wake of some employees at the PCF Sparkletots pre-school in Fengshan and Dover Court International School getting infected by the virus.
Yesterday, MOE announced that all schools will conduct home-based learning once a week.
Also, dismissal times will be staggered, it added.
Related
Wuhan virus: Singapore has to stay vigilant, but has every reason to be confident, says PM Lee Hsien Loong
Fear and panic can do more harm than coronavirus: PM Lee Hsien Loong
PM Lee Hsien Loong doesn’t rule out recession as coronavirus outbreak hits Singapore’s economy hard
COVID-19 situation is serious but under control in Singapore: Prime Minister Lee Hsien Loong
Tide yet to turn for coronavirus situation in Singapore, says PM Lee Hsien Loong in an interview with The Australian newspaper
$48 billion Resilience Budget to combat impact of COVID-19
No comments:
Post a Comment