Presidential hopeful emphasizes importance of fresh perspectives on reserves policy
Presidential candidate George Goh has once again stressed the need for an independent president, citing concerns over “groupthink” within the circles of political power. In a statement shared on social media on August 17, the 63-year-old entrepreneur expressed his belief that having a president without ties to the government would bring a much-needed fresh perspective to critical issues, particularly in relation to Singapore’s reserves policy.
Goh’s comments follow the airing of a CNA documentary, Singapore Reserves Revealed, which discussed the management of Singapore’s reserves. The documentary featured Prime Minister Lee Hsien Loong, who explained that Singapore’s reserves, once depleted, could not be rebuilt. This insight, along with the fact that the president holds the “second key” to the nation’s reserves, further convinced Goh of the necessity for an independent president with no prior connections to the government.
Goh emphasized the importance of bringing in diverse viewpoints, particularly in matters concerning the reserves, land sales, and the investment strategies of entities like Temasek and GIC. He referenced former president Ong Teng Cheong’s role in shaping the use of reserve income, noting that Ong’s background in the private sector allowed him to bring a “fresh perspective” to his presidential role, despite lacking direct experience in financial policymaking.
For Goh, true independence as president goes beyond knowledge or experience—it requires political courage to challenge the executive branch when necessary to serve the national interest. He pointed to Ong’s legacy of independence and political bravery, calling it a key attribute for the office of the president.
As the presidential race heats up, Goh continues to advocate for a president who can act as a check on the government’s power and bring a broader range of views to important national policies.
