Personal Explanation

3.42 pm

Assoc Prof Jamus Jerome Lim (Sengkang): Mr Speaker, thank you for allowing me to make this clarification.

On 5 July, in my Adjournment Motion speech to this House on macroeconomic policy to combat inflation, I stated at the end of my speech at the third to final sentence that the Government should buy long bonds because this would dampen speculative investment and keep a lid on asset prices. [Please refer to "Tackling the Macro Picture in Rising Cost of Living Challenges", Official Report, 5 July 2022, Vol 95, Issue 64, Matter raised on Adjournment Motion section.]

I wish to clarify that this was a misstatement and that it should have been that the government should "sell" long bonds and not "buy "them, a point that was correctly stated earlier in my speech. I would like to make this clarification and correction for the record.

Mr Speaker: Order. End of Personal Explanation. Introduction of Government Bills. Minister of State Alvin Tan.