Below are some interesting facts from Ministry on the Govt's
income and expenditure.
(http://www.mof.gov.sg/budget_2005/budget_speech/downloads/FY2005_Budget_Highlights.pdf)
For FY2004 (Revised):
Total Taxes Collected: 24.16 Billion SGD (Corporate, Personel,
Asset, Customs, GST, Vehicle)
Other income collected: 3.65 Billion (COE, Fees, etc)
Net total income (excluding investment income):27.81 Billion
Total
Investment income: 2.68 Billion
Total Expenditure: 29.22 Billion
Total Handouts (ERS, rebates, etc):1.71Billion
Overall: -0.44 Billion
As such, it seems that our investment income is contributing <
10% of the Govt's revenue. On another note, it was seen that that
COEs are quite a profitable business in getting in about 1.5B per
year.
The above is copied from a forum.
Total Investment income : 2.68 Billion? verses Total Handouts (ERS,
rebates, etc):1.71Billion
Does it make sense? In Tomasick, what's the portfolio and capital
amount involved in investment?
Correct me, if I'm wrong.
S$2 680 000 000.00 over S$168 000 000 000.00(which tomasick is
having)
= 0.0159% return?
Then, I would rather that our ''first world'' govt putting the
money in banks to earn interest which can draw at least 2% or
more...... or maybe hand it to American funds Managers to
management our funds.
What a shame!!! I just cannot believe my eyes after eyeing the
figures.
What is our government doing with our reserve?
We peasants are being sucking dry by these Blood Sucking Vampires
PAP. 