Workers’ Party Advocates for Government Review of Budget and Reserves Policies

SINGAPORE — During a seven-hour parliamentary debate on Feb. 7, Workers’ Party (WP) MPs voiced support for a motion initiated by Non-Constituency MPs Leong Mun Wai and Hazel Poa of the Progress Singapore Party, urging a review of government budget and reserves policies to address rising financial pressures on Singaporeans. While the motion was ultimately rejected, an amended motion passed, reinforcing fiscal responsibility.

Leader of the Opposition Pritam Singh highlighted three key areas for consideration. First, he urged greater transparency around the reserves to enable mature discussions on their use. Second, he suggested that increasing the allocation from the Net Income Returns Contribution (NIRC) should be considered to help ease Singaporeans’ financial burdens. Lastly, he called for the creation of a Standing Select Committee to review the reserves’ status and explore equitable usage of investment returns.

WP MP Jamus Lim emphasized that Singapore’s reserves were built through sacrifices made by past and present generations for future needs, and that these reserves “belong to the people, not the government.” Echoing these points, WP MPs Gerald Giam and Louis Chua called for improved transparency and disclosure from sovereign wealth funds, arguing that clearer information would foster public participation in decisions about national wealth.

Full speeches by WP MPs on this motion can be viewed on the WP Facebook page.