Statement of Assets and Liabilities in Government Financial Statements for FY2021/2022

Debated in Parliament on 13 Sep 2022.

Summary written by AI (learn more)

Hazel Poa asked if the $1.57 trillion in government financial assets includes the latest increases in GIC and Temasek holdings and, if not, what the contribution would be.
Lawrence Wong clarified that the SAL records all government gross financial assets, including cash, investments, and government funds managed by GIC.
Wong confirmed that government investments in Temasek are also recorded in the SAL according to its basis of preparation.
The reply indicates that the SAL comprehensively includes assets managed by both GIC and Temasek, implying the reported figure is up to date.

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Hazel Poa

Ms Hazel Poa asked the Deputy Prime Minister and Minister for Finance (a) whether the total financial assets of $1.57 trillion in the Statement of Assets and Liabilities as per the Government Financial Statements for FY2021/2022 include the latest reported increase in assets held by GIC and Temasek Holdings; and (b) if not, how much will those contribute to the increase in the total financial assets for FY2022/2023.

Lawrence Wong

The Statement of Assets and Liabilities (SAL) records the Government's gross financial assets, comprising cash and investments, that are set aside in deposit accounts and funds that are established in accordance with the laws governing them. Government assets managed by GIC, as well as Government investments in Temasek, are recorded in the SAL, according to its basis of preparation.

Summary written by AI (learn more)

Hazel Poa asked if the $1.57 trillion in government financial assets includes the latest increases in GIC and Temasek holdings and, if not, what the contribution would be.
Lawrence Wong clarified that the SAL records all government gross financial assets, including cash, investments, and government funds managed by GIC.
Wong confirmed that government investments in Temasek are also recorded in the SAL according to its basis of preparation.
The reply indicates that the SAL comprehensively includes assets managed by both GIC and Temasek, implying the reported figure is up to date.

Questions identified by AI (learn more)

Statement of Assets and Liabilities in Government Financial Statements for FY2021/2022 | PAPERCUTS

Statement of Assets and Liabilities in Government Financial Statements for FY2021/2022

Debated in Parliament on 13 Sep 2022.

Summary written by AI (learn more)

Hazel Poa asked if the $1.57 trillion in government financial assets includes the latest increases in GIC and Temasek holdings and, if not, what the contribution would be.
Lawrence Wong clarified that the SAL records all government gross financial assets, including cash, investments, and government funds managed by GIC.
Wong confirmed that government investments in Temasek are also recorded in the SAL according to its basis of preparation.
The reply indicates that the SAL comprehensively includes assets managed by both GIC and Temasek, implying the reported figure is up to date.

Questions identified by AI (learn more)

Full Transcript

Hazel Poa

Lawrence Wong

Summary written by AI (learn more)

Hazel Poa asked if the $1.57 trillion in government financial assets includes the latest increases in GIC and Temasek holdings and, if not, what the contribution would be.
Lawrence Wong clarified that the SAL records all government gross financial assets, including cash, investments, and government funds managed by GIC.
Wong confirmed that government investments in Temasek are also recorded in the SAL according to its basis of preparation.
The reply indicates that the SAL comprehensively includes assets managed by both GIC and Temasek, implying the reported figure is up to date.

Questions identified by AI (learn more)

Statement of Assets and Liabilities in Government Financial Statements for FY2021/2022

Summary

Questions Identified

Full Transcript

Hazel Poa

Lawrence Wong

Summary

Questions Identified

Statement of Assets and Liabilities in Government Financial Statements for FY2021/2022

Summary

Questions Identified

Full Transcript

Hazel Poa

Lawrence Wong

Summary

Questions Identified