Chee Hong Tat on government securities and Treasury bills
In Parliament on Tuesday (Nov 12), Second Minister for Finance Chee Hong Tat proposed to raise the ceiling for issuing government securities and Treasury bills by S$450 billion to over S$1.5 trillion. He said the proposed limit is expected to last for five years until 2029. Mr Chee said the limit serves as an additional safeguard and check on the total stock of such borrowings. He said more than 60 per cent of the increase is expected to be issued as Special Singapore Government Securities, with the primary purpose of meeting CPF’s investment needs. He said this provides the assurance that CPF Board will be able to pay the interest committed and monies due to CPF members. Mr Chee added that CPF balances are expected to continue to increase over the next five years due to the growth in wages and CPF policy enhancements. Like previous increases, this increase in the issuance limit is not for spending purposes and has no impact on the Government’s fiscal position, he added.
In Parliament on Tuesday (Nov 12), Second Minister for Finance Chee Hong Tat proposed to raise the ceiling for issuing government securities and Treasury bills by S$450 billion to over S$1.5 trillion. He said the proposed limit is expected to last for five years until 2029. Mr Chee said the limit serves as an additional safeguard and check on the total stock of such borrowings. He said more than 60 per cent of the increase is expected to be issued as Special Singapore Government Securities, with the primary purpose of meeting CPF’s investment needs. He said this provides the assurance that CPF Board will be able to pay the interest committed and monies due to CPF members. Mr Chee added that CPF balances are expected to continue to increase over the next five years due to the growth in wages and CPF policy enhancements. Like previous increases, this increase in the issuance limit is not for spending purposes and has no impact on the Government’s fiscal position, he added.
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