Tan Jee Say said, shares owned by Temasek Holdings in government-linked companies should be sold to encourage entrepreneurship. There will be no shortage of companies keen to buy out Temasek as the private sector has got "enormous experience, capacity to take over," said Tan.
He added that the sale could be opened to both local and foreign buyers "to give Singaporeans a good deal" and that proceeds can be invested in infrastructure, especially in education and health.
But this should be done "over a long time frame" because Temasek's stake in the Singapore economy could be almost 60 per cent, he said, noting that it "would be very drastic to disband immediately".
"I do see disbanding as part of my economic philosophy to get the Government out of business, because it is not the business of Government to be in business," he stressed.
Right on the nail Mr Tan Jee Say!
Temasek Holdings not only holds almost 60% stake of Singapore's economy but controls almost the entire Singapore Government owned business. Name a major Singapore company, especially in basic necessities, they have a stake. That's absolute control. Worst of all, they've sold some of our major assets to foreigners, letting them having full control of our necessities like electricity and water. What if that particular country becomes economically hostile with Singapore and who suffers in the end?
The Singapore Government, ruled by the PAP, has privatised too many public agencies, too fast and making them corporations, with only one aim and that's profit generating, squeezing every single cent from SINGAPOREANS. This led to higher costs of living and services are not improving significantly which made our lives even much more difficult.
Our Government should not be so directly involved in businesses. Instead, it should be concentrating on SERVING CITIZENS whom had elected them into Parliament. Isn't this what PUBLIC CIVIL SERVANTS are supposed to do? Over dominating the business sector stiffles entreprenuership and created more obstacles to SINGAPOREANS who wants to strike out for a better life and Singapore.
Mr Tan Jee Say, that's why I will support and vote for you as our next President. Your insights and service orientated attitude is deserving as a fellow SINGAPOREAN and our cause for a better Singapore. After you're elected, the whole of Singapore will look forward to recalim and rebuild This Land Where We Belong
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