“What is the deepest obligation of any government? It is not to the present, and certainly not the past, but to the future.”
(then Senior Minister Lee Kuan Yew, 2001)IPS Working Paper No.32
on "Fiscal Management of Reserves in Singapore: An Intergenerational Equity Perspective" by IPS Research Assistant Drew Shih is out! It aims to offer clarity to the ongoing debate regarding the fiscal management of Singapore’s reserves and concerns about intergenerational equity. It notes that the pre-dominant discourse around the fiscal management of Singapore’s national reserves is often framed around sustainability. The concept of sustainability is, however, shaped by how we understand intergenerational equity - what we mean by “fairness” between generations and what standards we should apply.