GIC, Temasek won’t take more risks to help fund govt spending: Josephine Teo
SINGAPORE – Singapore’s spending needs will increase over time, but that should not drive GIC and Temasek to take on more risks, Senior Minister of State for Finance Josephine Teo said today (March 7).
SINGAPORE – Singapore’s spending needs will increase over time, but that should not drive GIC and Temasek to take on more risks, Senior Minister of State for Finance Josephine Teo said today (March 7).
“If the Government is in need of more revenues besides that obtainable within the NIR (net investment returns) framework, the solution is not for our investment entities to take more risk in the hope of higher returns,” Mrs Teo told Parliament during the Finance Ministry’s Committee of Supply debates.
She said GIC and Temasek must continue to invest with the aim of achieving good, risk-adjusted returns over the long term.
“The solution has to rest on our budgetary measures,” she added. CHANNEL NEWSASIA
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