SPEND ON FOREIGN TALENT, TAX THE LOCALS

“There is no limit on money, but there is for talent. If we are going to count our money like bean counters, we will never become a great nation. We will become a nation of bean counters.”
– A*Star chairman Philip Yeo on why Singapore must continue to spend top dollar to attract foreign talents, Straits Times May 11, 2002

“If we go for welfare programs, have more subsidies, unemployment benefits, free medical care … then the costs will go up”
– DPM Lee Hsien Loong on the “dangers” of welfare, Straits Times, Apr 5, 2002

“We have to bring down our corporate and personal income tax rates to make ourselves more competitive. However, this will cause a large shortfall in government revenue, which has to be made up one way or another. The most effective way to do so is by raising the GST rate.”
– DPM Lee Hsien Loong, Straits Times, May 4, 2002