President Tharman vows to be ‘scrupulous and independent’ in decisions on reserves

SINGAPORE: President Tharman Shanmugaratnam swore to be “scrupulous and independent” in making judgments on Singapore’s reserves, during his inauguration speech on Thursday (Sep 14).

He promised to work with the government, community groups, voluntary organisations and the entire nation to strengthen Singapore’s multiracialism, and nurture a more inclusive society, with the “strong mandate” voters have given him.

“I will do my utmost to support initiatives that deepen the respect we accord to our fellow citizens, of all backgrounds and in every walk of life - the respect for all that is at the heart of our solidarity as Singaporeans.”

Mr Tharman won the Presidential Election by a landslide with more than 70 per cent of the ballots cast, over two other candidates - former GIC chief investment officer Ng Kok Song and ex-NTUC Income chief Tan Kin Lian.

The 66-year-old former senior minister was sworn in as President at the Istana on Thursday evening.

He said in his speech: “I will be scrupulous and independent in making judgments that involve the use of the ‘second key’ on our reserves – whether in responding to the future crises that will come from time to time, or in ensuring Singapore remains a safe and liveable home over the longer term.”

In exercising his veto powers on the reserves and key public service appointments, he will confer closely with the Council of Presidential Advisers, and be thorough and impartial in his assessments, said Mr Tharman.

There are longer-term threats to Singapore’s existence and the lives of future generations, such as climate change, he noted.

“Should the need arise in future to use the reserves to tackle such crises and existential threats, we will weigh the matter carefully,” said Mr Tharman.

“We will have to balance between meeting immediate needs and preserving the reserves so that every generation, now and in the future, enjoys their benefits.”

UNITING SINGAPOREANS

Mr Tharman said that as the non-partisan head of state, the President stands above the political fray, and can be a symbol of the nation, effective in uniting all Singaporeans, regardless of race, religion or other differences.

While Singapore is a cohesive society with a high level of trust and unity, this is not always assured or permanent, said Mr Tharman. At the same time, society is maturing, and there is a greater diversity of views and preferences. 

“Now, more than before, we must grow our sense of togetherness as fellow Singaporeans. It will make us a better society, and add to our ballast as we face a more turbulent world,” he said.

Other than his custodial powers under the Constitution, the President acts on the advice of the Cabinet. But there is room for the President to take a special interest in specific issues, or champion causes close to his or her heart, said Mr Tharman.

“As President, I will promote greater interactions between our different communities, even as we ensure the vibrance of our different cultures,” he said. 

This could be by encouraging our youth to play sports that are played mainly by a particular ethnic group, learning one another’s art forms, or promoting collaborations between self-help groups, community organisations and business chambers, said the President.

Beyond that, Mr Tharman said that he remains committed to his life’s purpose - making Singapore a more inclusive and socially just society. 

CIVIL SOCIETY, ARTS & SPORTS

Government policies have shifted significantly to help Singapore get there. But to build a truly inclusive society, Singapore needs a strong culture of kinship and respect, where people empathise with fellow citizens, and feel that “we only truly succeed when we succeed together”, he said.

He wants to encourage a thriving civil society to help Singapore grow this culture.

“We can do more to nourish the soil for ground-up and purpose-driven initiatives to sprout and grow. From giving confidence to disadvantaged youth; to supporting those who need a second or third chance; to helping those among us who face mental health challenges; and to neighbourhood initiatives to support our caregivers and befriend seniors at risk of being lonely,” said Mr Tharman.

The President also wants to actively support the arts and sports, while noting that Singapore has made “significant strides” in both areas over the years. 

“In both fields, the best years are ahead of us. By nurturing talent in the arts and sports and supporting them through their journeys, they will inspire us,” he said.

“I WILL SERVE WITH ALL MY HEART”

Mr Tharman also vowed to do his best to represent Singapore and promote the country’s interests abroad, in line with the objectives and priorities of the government.

The world has entered an era of “profound global uncertainty and growing fragility”, with the ongoing Ukraine war and major economies shifting away from free trade and investment flows. The China-US relationship is at its most troubled in decades, he said.

Singapore must always advance its long-term national interests by standing up firmly for its principles rather than taking sides.

“By remaining a voice of reason and striving for solutions that are of mutual benefit, we will remain a partner that others find worthwhile to engage with,” said Mr Tharman.

Mr Tharman concluded by thanking his predecessor, Mdm Halimah Yacob, for her service as the eighth President of Singapore, and for her counsel and advice as he steps into her shoes. He also thanked Prime Minister Lee Hsien Loong for his support and encouragement. 

“I pledge to discharge my duties diligently, faithfully, and to the best of my abilities, for the betterment of Singapore and Singaporeans. I will serve with all my heart,” he said.

“To my fellow Singaporeans, once again, I thank you for your strong endorsement. Regardless of the challenges ahead of us or the differences amongst us that we will inevitably have, let us remember that we are bound by a common destiny," he said.

“Let us take confidence in what we have achieved together so far, and pledge to work together for a future of optimism and respect for all.”