DEFENCE EXPENDITURE (Issue of Defence Bonds)

Parliament of Singapore · 31 July 1968 · 2nd Parliament

Official Report, 31 July 1968, Vol 27, Issue 13 · Open in the reader (summaries, search, filters)

Ng Yeow ChongTang See Chim
1

Mr Ng Yeow Chong asked the Minister for Finance whether the Government will consider the issue of Defence Bonds to obtain loans from the private sector to meet the additional expenditure for defence.

The Parliamentary Secretary to the Minister for Finance (Mr Tang See Chim) (for the Minister for Finance): Mr Speaker, Sir, the Government is now offering $75 million in loans of varying maturities and on attractive terms. Part of the proceeds will go to meet our mounting defence costs. In view of the current loan offer, no purpose would be served by an issue of Defence Bonds now, though an issue may be considered at an appropriate moment in the future.

Source: Singapore Parliament Official Report (Hansard) for 31 July 1968. Republished on SGParliament.