The Budget debate began yesterday. NMP Chia Yong Yong made an excellent speech about the CPF. I was not in the chamber to hear her, but watched it later on YouTube.
Yong Yong cast the question in a broader perspective: whether it is right to think of the CPF as “our money”, to be spent solely as we choose. She explained how choice always comes with responsibility, and benefits always carry obligations. When we exercise personal choice (e.g. by spending our CPF savings early), there is a price to be paid (e.g. we may not have enough to support ourselves in old age), and that price should not be paid by someone else (e.g. other taxpayers).
Yong Yong had asked me earlier whether we had settled the CPF policy, and if so was it worth her while to speak. I said we had worked out the main changes, but strongly encouraged her to express her view and contribute to the public debate. I am glad that she did, and to such good effect.
Here’s an excerpt of her speech. You can view her full speech at: http://bit.ly/1aL3Tmh
- LHL
#SGBudget2015
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