Reform Party leader faces fifth correction for false statements regarding Singapore’s finances and property policies.
SINGAPORE – The Protection from Online Falsehoods and Manipulation Act (Pofma) Office has issued a correction direction to Kenneth Jeyaretnam, leader of the Reform Party, after he published false claims about Singapore’s reserves, healthcare spending, and the rental of state properties. This marks the fifth time Jeyaretnam has received such a direction.
The Ministry of Finance (MOF) criticized Jeyaretnam’s article on The Ricebowl Singapore, where he falsely stated that most returns from Singapore’s reserves were not contributing to public spending and that money in long-term funds did not benefit citizens. The MOF clarified that the Net Investment Returns Contribution (NIRC), a significant source of government revenue, has consistently contributed around 3.5% of GDP annually and directly supports public spending.
Jeyaretnam also alleged that two ministers were given preferential treatment by the Singapore Land Authority (SLA) regarding the rental of state-owned properties at below-market rates. The MOF refuted this, stating that Corrupt Practices Investigation Bureau (CPIB) found no preferential treatment and confirmed the rents were in line with market value, as verified by professional valuers. Further, both ministers recused themselves from the transactions.
In his article, Jeyaretnam also misrepresented healthcare spending, claiming only $8 billion of the $17 billion healthcare budget was used for subsidies for Singaporeans. MOF clarified that a larger portion, between $9.54 billion and $10.93 billion, was allocated to subsidies in recent years, and more than 70% of healthcare spending (excluding Covid-19 expenditures) directly benefits citizens.
The MOF emphasized that Jeyaretnam’s repeated dissemination of false information undermines public understanding of critical financial matters, especially relating to land sales, public housing, and government reserves. Under the correction direction, Jeyaretnam must publish a correction notice alongside his article and posts on social media, linking to the Factually statement.
