Pritam Singh calls for 'report card' on Govt spending after record surpluses

Workers' Party (WP) chief Pritam Singh has called on the Government to provide a comprehensive "report card" of its spending after "one of the largest fiscal surpluses in decades".

Speaking in Parliament on Tuesday (Feb 24), Singh said the political timing of the General Elections last May was "calculated" so that the ruling People's Action Party could use the US President Donald Trump's tariffs as a "rallying call" for voters to back the tried and tested. 

He said that since then, there has been little information of the tariffs and their actual impact on Singapore.

"Despite the doom and gloom surrounding the Liberation Day tariffs, this PAP Government begins its new term with what may be the greatest fiscal surplus any PAP government has seen in decades."

In his Budget speech, Prime Minister Lawrence Wong said that Singapore's budget surplus for the 2025 financial year has been revised to $15.1 billion, more than double the earlier estimate of $6.8 billion.

He cited several reasons for this, including a better-than-expected economic performance, as well as the increase in corporate income tax collections.

Singh said that along with budget surplus for the 2026 financial year expected to be at $8 billion, they have exceeded the additional annual revenue that the GST hikes of 2023 and 2024 were meant to generate.

"There will be significant public interest in how these surpluses are ultimately deployed, especially given the pressures of an ageing population and the persistent concern over inequality," he added.

On that front, Singh called for a report card on the success and shortcomings of Government-led initiatives.

He cited the $40 billion Forward Singapore package announced during Budget 2024 and said that there has been no "well-published tracking of cumulative spending since then".

@asiaone Worker's Party MP Pritam Singh suggested in Parliament on Tuesday (Feb 24) that the CDC voucher scheme, where vouches are distributed on a household basis, are not equitable to larger households. He recommended providing an addition $150 per person for households with more than three members. #sgnews #singapore #parliament #costofliving ♬ original sound - AsiaOne

On the Research, Innovation and Enterprise plan, which has seen funding increased to $37 billion, Singh said: "Yet there was no comprehensive report on how the previous $25 billion was used - how many jobs were created for Singaporeans, where outcomes met their objectives, where they fell short, or even whether it is simply too early to tell."

"Across most budgets, there is a lack of easy-to-track outcomes once the headlines have been announced," he added. 

"The Government should be conscious of the public cynicism and detachment that grows when Singaporeans cannot see a clear accounting of how public funds are being used and communicated for ease of understanding, and what results have been achieved.

"That is not good for Singapore - and it sits in contradiction with the participatory spirit that Forward Singapore was meant to embody."

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chingshijie@asiaone.com