Singapore urged to build a PIC fund for the 'people sector'

Think less, fund more.

According to Seah Kian Peng, MP for Marine Parade GRC, Singapore needs a new model of government which will require it to think short term; to think less and fund more; and to set up a PIC fund for the people sector.

On the first day of the Budget Debate, he said ''indeed this $8b Pioneer Generation package is filial piety of a new order - that of nation and citizens doing the right thing for our pioneers/ elders.

Today, I stand here not because I think $8 billion is not enough but because I think we ought to change the way we fund the government – and government activities.''

He also stressed that the Finance Minister should consider the short term, aside from the $8 billion and think about what else is needed.

''$8 billion for those needy among the 450,000 elderly Singaporeans does not buy luxury or even comfort but importantly, it provides peace of mind. The peace that comes with the knowledge that we as a collective community want to give them as good a life, for as long as possible,'' he said.