Xie Yao Quan on Significant Infrastructure Government Loan Bill
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Xie Yao Quan on Significant Infrastructure Government Loan Bill(Updated: )
A S$90 billion cap on Government borrowing to spend on major infrastructure is “quite significant”, said MP Xie Yao Quan, especially if a profligate leadership were to take over. He suggested this be cut to an initial S$50 billion, or about 10% of current annual GDP, with approval sought from Parliament if it needs to be raised. In the House on Monday (May 10), Mr Xie also asked that the S$5 billion limit on annual interest payments be halved, for prudence. Finally, he called for the qualifying minimum of S$4 billion per project to be reduced, so the scope can be more inclusive and flexible.