Singapore GE: Saving half of returns on reserves important for future generations, says Foreign Minister

Singapore Foreign Minister Vivian Balakrishnan. - ST

SINGAPORE (The Straits Times/ANN): It is a fair arrangement to spend half of the returns on Singapore's invested reserves on the needs of the current generation, and set aside the rest for the next, Foreign Minister Vivian Balakrishnan said in a video posted on Facebook on Wednesday (July 8).

The People's Action Party's (PAP) incumbent anchor for Holland-Bukit Timah GRC was responding to a resident's question on what becomes of the 50 per cent of Net Investment Returns Contribution (NIRC) that cannot be used for government Budgets, and why it cannot be disbursed to Singaporeans.