VOTE FOR THE PARTY WHOM YOU TRUST TO MANAGE YOUR MONEY?

Vote for a party whom you trust to manage your money and town council

According to the Channel NewsAsia news report “Vote for a party whom you trust to manage your money and town council: DPM Teo” (Aug 14) – “”Essentially what happened was this: Hougang town council was running a deficit, they took over Aljunied, a town council which was in surplus (following the 2011 General Election).

They took over Punggol East from Pasir Ris-Punggol town council which was also in surplus. Now the whole Aljunied-Hougang-Punggol East Town Council (AHPETC) is in deficit,”

“How did that happen, how did a large surplus turn into deficit? Where did the money go?”

Why AHPETC ran into a deficit?

Some of the possible reasons why AHPETC went into a deficit may be

… the legislation is such that when a town council is won by a
different party in an election – 100 per cent of the accumulated surplus
has to be transferred to the sinking fund

… the town council’s software was taken away in what is now known as the “$2 AIM company” saga

… $14 million of grants were held back  even whilst the
process of the audit team was on-going and not completed yet

Vote for a party whom you trust to manage your money?

As to “make sure they’re the ones you want to manage your money” – what about the non-transparency of the difference between the returns derived from our CPF funds, relative to the interest that we get on our CPF?

WP’s performance in Parliament?

As to ““CROCODILE TEARS” - Mr Teo also took aim at the Workers’ Party’s track record in Parliament, saying their silence on some issues stood in contrast to their boisterous rallies.

“Some people come alive during an election. Some campaign very well. Wonderful rallies getting people worked up. It’s easier to get people riled up and unhappy. Even I know how to do that. It’s much harder to get people to work together on a difficult project – to make trade-offs, strike balances, then unite and work together. That’s much more difficult.

“During the elections you can have a party that does all kinds of rabble-rousing, inflaming emotions, influencing the way people vote. But when they get elected into Parliament, these fierce issues which they talk about during elections … they’re silent, even when they can engage the Parliament directly.”" - Why is it that whilst it was only recently disclosed that our CPF funds have been managed by the GIC – but a former Manpower Minister replied to  question by WP’s Low Khia Thiang in Parliament in 2007 that the GIC does not manage CPF funds, and a former Prime Minister also said that there is no link between the GIC and CPF funds?

Win battles lose war