Lawrence Wong on Government Borrowing (Miscellaneous Amendments) Bill
Consolidating legislation on Government borrowing for investment and market development, to clearly separate this borrowing - which is for non-spending purposes - from new borrowing to finance major long-term infrastructure projects under a recent Act called SINGA. That was the aim of a Bill put up for debate in Parliament on Wednesday (Nov 3) by Finance Minister Lawrence Wong. It merges the Local Treasury Bills Act (LTBA) into the Government Securities Act (GSA) and combines their existing borrowing limits into one. Mr Wong said the move will provide greater clarity on the Government’s debt profile.
Consolidating legislation on Government borrowing for investment and market development, to clearly separate this borrowing - which is for non-spending purposes - from new borrowing to finance major long-term infrastructure projects under a recent Act called SINGA. That was the aim of a Bill put up for debate in Parliament on Wednesday (Nov 3) by Finance Minister Lawrence Wong. It merges the Local Treasury Bills Act (LTBA) into the Government Securities Act (GSA) and combines their existing borrowing limits into one. Mr Wong said the move will provide greater clarity on the Government’s debt profile.
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