Even though Shaken by Scandal, PM of Singapore Ensures Succession Plan ‘Back on Track. In his annual policy address on Sunday (20/08), Singapore Prime Minister (PM) Lee Hsien Loong said plans to hand over the leadership seat to a younger generation were “getting back on track. Lee, 71, had previously planned to step down from
Even though Shaken by Scandal, PM of Singapore Ensures Succession Plan ‘Back on Track. In his annual policy address on Sunday (20/08), Singapore Prime Minister (PM) Lee Hsien Loong said plans to hand over the leadership seat to a younger generation were “getting back on track. Lee, 71, had previously planned to step down from office in 2022, paving the way for his deputy, Lawrence Wong, 50, to take over. However, that plan was canceled due to the coronavirus pandemic. Lee said at the time that he had to lead Singapore through the pandemic crisis. Now that the covid 19 virus is over and my successful plan is back on the right track said Lee in his annual address which is known as the National Day Rally.
Political scandal won’t delay schedule change
Lee said a series of political scandals rocking his ruling party, a rare occurrence in the country, would also not affect the planned leadership change. The political scandals included an investigation into a cabinet minister by the anti-corruption body and the resignation of two lawmakers over improper relations. Lee’s People’s Action Party (PAP) has been in power since Singapore became independent in 1965. Let me assure you: This incident will not delay my scheduled change of leadership Lee said. “We handled each of these incidents thoroughly and transparently,” he added.
However, Lee did not specify when he would hand over the leadership seat to Wong, who is currently Singapore’s Minister of Finance.
General elections are not expected until 2025. If Wong had taken over this would be the second time in his nearly 60 year life that a prime minister is not a member of the Lee family. The economy is expect to grow, but inflation will persist In his speech, Lee also. Sought to answer citizens’ concerns about the rising cost of living, employment and housing in the country. The country that has the famous island of Southeast Asia with a population. Of 3.5 million people is often consider one of the most expensive places to live in the world.
Lee warned that Russia’s invasion of Ukraine, global warming and US-China tensions had. Disrupted food supply and production chains, negatively impacting smaller trading nations like Singapore. Lee also warned that job disruptions were likely to continue and inflation would still be “higher than normal. Even so, he expects to see economic growth this year, hoping that the country will avoid a recession. Singapore’s annual core inflation rate was report to have fallen to 4.2% in June from 4.7% in May.