Deficit = Surplus. A deputy prime minister cannot read financial statements, are you worry? Is this a new creative accounting? DPM Teo can go to Wall Street to explain to investors that in Singapore we allow a loss in income statement to be considered a profit.
This is the picture of Singapore today. Without the guidance and supervision of Lee Kuan Yew, deficit can be surplus and nobody cares. Nobody dares to care and points out the mistakes.
Lee Hsien Loong is putting his posters all over Singapore. But he cannot protect all of you. He also cannot appear in all ballot papers come September, 11. He can only appear in Ang Mo Kio Group Representative Constituency where Ravi, Roy, Gilbert will also appear together with him.
A prime minister can put up his posters during election, but for sure he cannot represent all citizens in all constituencies. PM Lee is only one of the candidates in AMK GRC.
Will he will also follow the same standard as his deputy to turn deficit into surplus for all government financial transactions? Will he do the same for our reserves, CPF, GIC, Temasek etc.? And his another deputy, a financial minister, just pretends nothing has happened.
This new accounting standard not only gets Singaporeans worry. And local and foreign investors will get worry too. It is adjusting one side of the account and ignore the double entry system. Of course, if you have ill intention, you will like this wonderful accounting standard.
The passing of Lee Kuan Yew was just 6 months ago. Now with the new ‘deficit = surplus’ new accounting standard in income statements, no one can help us to put it right. We hope LKY can return and right the wrong but it is impossible.
For Singapore to move forward, do you expect and trust that the PAP is able to check on themselves?
Empower yourself and protect your future by voting for Workers’ Party, Singapore Democratic Party, SingFirst and other opposition parties. Only opposition parties dare to point out the difference.
Deficit is not Surplus. Only opposition parties can check and balance the government.