Clarification by Deputy Prime Minister and Minister for Finance

The following statements were in the reply given by the Deputy Prime Minister and Minister for Finance (Mr Heng Swee Keat) during the Budget debate Round-up Speech at the Sitting of 26 February 2021:

The Deputy Prime Minister and Minister for Finance (Mr Heng Swee Keat): On the technical question that Mr Louis Chua asked about, what constitute the other big part, well, one bit which, as the Member has pointed out, is the land sales; and the other part, a big chunk of it, is the NIRC. The NIRC is already being used. [Please refer to “Debate on Annual Budget Statement”, Official Report, 26 February 2021, Volume 95, Issue No 21.]

Written statement by Mr Heng Swee Keat circulated with leave of the Speaker in accordance with Standing Order No 29(5):

I wish to make the following factual correction to the reply given during the Budget Debate Round-up Speech at the Sitting of 26 February 2021. My reply should read as follows:

The Deputy Prime Minister and Minister for Finance (Mr Heng Swee Keat): On the technical question that Mr Louis Chua asked about, what constitute the other big part, well, one bit which, as the Member has pointed out, is the land sales; and the other part, a big chunk of it, is the Investment and Interest Income. It is already being used.