Hang on here.
On a really bad day, if I wanted a nice, low-risk conservative
place to stash my money, I would expect a return of about 7% with
capital protection. Even better, I'd get an offset loan for a
property - capital protection with a return that matches the loan's
interest rate (which could go well over 7%).
Word on the street is that the CPF's now in the neighbourhood of a
trillion bucks. 7% of a trillion is $70,000,000,000. The gahmen's
making a big dog-and-pony show of returning $10,000,000,000 to the
Singaporean people, and they expect people to be happy about
getting 1% when any half-decent broker could return them 7%?
Still, to be reasonable, it's not a case of the government giving
people $100 and taking back $99. As far as GST is concerned, they
give $100 and take back $700. 
