Because it is a huge number. A powerful number. A number far beyond the comprehension of ordinary Singaporeans. And the huge number will sway people towards a populist agenda that the opposition wants.
Imagine the reserves has $1 trillion. For 5 million people, that's $200,000 per person. Each individual can fund multiple university degrees. Each couple can buy a BTO. Every elderly person could retire 10 years early.
Screenshots taken from CNA's documentary on Singapore's reserves
It all comes down to whether you believe that our reserves can be wiped in the event of a drastic emergency.
It could be war, where operations can span years, and military equipment and supplies cost billions. Such is the case in the Ukraine conflict, and is shaping up to be the case in the Israel-Palestine conflict, no matter which side you stand on. Does the opposition take a long view on this?
It could be another pandemic, worse than before. Or a climate crisis where Singapore's land is under threat. In such cases, the reserves will be a powerful trump card to bail us out.
It all comes down to individual beliefs.
If you don't believe in such threats, then no one can convince you that we should not spend more of the reserves. You will agree with the Opposition, and vote accordingly for a better life today at the expense of Singapore's future.
If you believe in such threats, then you'll see why there can never be enough reserves.
"F*cking Populist"
Opposition MP Jamus Lim was once accused of being a f*cking populist. Tan Chuan-Jin was wrong to say f*cking, but don't let it hide the problem of being a populist.
It's not just about looking good in Parliament just because it is streamed live. Parliament is not a performance. Parliament is not about saying sweet things to survive until the next election. It is the easy, but irresponsible, path chosen by opposition politicians without quality.
Parliament is a serious meeting for the nation's elected leaders to discuss the future of Singapore, regardless of PAP or opposition. Rather than funny faces, perhaps Jamus should bring more foresighted proposals to Parliament instead. In his own words:
As a parting reminder, here is Jamus when Vikram Nair is talking about suicide rates in Singapore.
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