S’pore investigates Panama Papers as Budget debate continues…

SINGAPORE is reviewing the Panama Papers leak to look for illegal activity, said the G yesterday (April 5). “If there is any evidence of wrongdoing by any individual or entity in Singapore, we will not hesitate to take firm action,” said the Ministry of Finance and Monetary Authority of Singapore in a joint statement.

Since more than 11.5 million documents from a law firm in Panama specialising in off-shore bank accounts were leaked on Sunday, several governments have launched investigations into possible illegal activity including tax evasion and money laundering that implicate several heads of state.

Iceland’s prime minister David Gunnlaugsson became the first casualty of the leak when he resigned yesterday amid mass protests calling for him step down.

Read our story on the Panama Papers here.

The debate on Budget 2016 continued yesterday with 25 Members of Parliament (MP) discussing a range of issues from giving mothers more work flexibility and benefits to making it easier for seniors to receive government aid. More on this later.

The Straits Times gave the day’s best speech to Nominated MP Kuik Shiao-Yin, a social entrepreneur, who made a passionate call for Singapore to ditch two key “cultural roadblocks” to transforming the economy: fear of losing, and losing out. Read an excerpt of her speech here.

It’s not too late to start planning for holidays next year. The Ministry of Manpower released dates of public holidays yesterday, showing there will be seven long weekends next year. See the dates here.

Meanwhile, the trial of Yang Kaiheng, a co-founder of The Real Singapore, continues today with Yang expected to mount his defence against seven counts of sedition. Read our coverage of the trial yesterday here.

 

Featured image by Kong Chong Yew.

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