Second presidential candidate broadcast: Tharman’s speech in full

My fellow Singaporeans,

I am standing in this election, because we face a new and challenging future. We face profound global risks and uncertainties, which are likely to grow in the decade ahead.

The demands on the presidency have hence grown.

I believe I can now best serve you as president, standing apart from Government and above politics, as we enter this new and more complex future.

My whole purpose in life has been to serve Singapore, and to help achieve a fair and socially just society.

It has been so since my days as a student activist. I stayed true to this purpose in life throughout the four decades that I spent in government, first in the public service, and then in political office.

Why did I choose to serve in politics over the last two decades, after being a technocrat over the previous two decades?

I wanted to serve actively on the ground, as well as to have a direct hand in shaping policies for a fairer and more inclusive society.

My motive throughout has never been politically partisan, as everyone familiar with me and the work I have done, both within and outside Government, has known.

I have played an active role in the shift in government policies to provide greater support for the disadvantaged, to improve the quality of jobs and pay for lower-income workers, and to improve retirement security for our seniors.

If I am a partisan, it is that I am a partisan for better chances and better support for Singaporeans who have less. To help them uplift themselves. And to uplift all our spirits. That is my purpose in life.

My fellow Singaporeans,

This presidential election is about our future together as Singaporeans.

I appeal to each and every one of you to vote for me on Friday: as a vote for a future of stability, a future where every generation can feel fortunate that we are Singaporeans, and a future of unity and deeper solidarity among us.

I have been deeply privileged to serve you in many ways over the decades – working on the ground as well as shaping national policies for a fairer and more inclusive society, and flying the Singapore flag high internationally.

I therefore come with a breadth and depth of experience that, I have to say with humility, is unique among the candidates in this election.

Firstly, on the international stage. I will bring to the presidency my international standing. I am the first Asian to have chaired the International Monetary Fund’s key policy advisory committee (IMFC). I have led high-level councils of the United Nations, the G-20 and other global bodies on international economic, financial, human development, environmental and pandemic challenges in recent years. I have also built up strong relations with senior figures among our partners in Asia, the West and the developing world.

Secondly, as the guardian of our country’s reserves and ensuring the integrity of key public service appointments. The president holds the “second key” in both areas. I come with a breadth of understanding in each of these critical areas, that is not matched by either of the other candidates.

Put simply, I know our whole system of reserves inside out. Most importantly, for the president, this involves understanding how the reserves are safeguarded and used by the Government.

I have been chairman of MAS for the last 12 years. I have also been chairman of GIC’s Investment Strategies Committee over the same period. Because of these roles, I have extensive knowledge of the overall framework and strategies for the investment of our reserves.

However, the elected president has no decision-making power on the investment of reserves, and in fact plays no role in investment strategies.

The president’s most fundamental role when holding the “second key” to the reserves is quite different – it is to ensure that the spending policies of the Government and various other public agencies do not lead to the nation’s reserves being misused. This concerns the Ministry of Finance and Government, rather than the GIC.

The president’s power in holding the “second key” requires making careful judgments on the use of the reserves to support national responses to major crises. This was needed for the first time in 2009 during the global financial crisis when I was Finance Minister, and we had to save Singaporeans’ jobs. It was needed on a much larger scale during the recent Covid-19 crisis.

Unfortunately, Covid-19 will not be the last major crisis to hit us. We have to be prepared for future crises, which could come from economic or geopolitical disasters. Or another pandemic. We also have to prepare to respond to climate change, which may require major long-term investments to ensure Singapore remains a safe and a liveable home for Singaporeans.

Because of my responsibilities as Finance Minister for nine years, and as Deputy Prime Minister and Senior Minister for many years, I have deep knowledge and experience on how our reserves must be safeguarded to benefit both today’s generation and future generations of Singaporeans, and on the judicious use of the reserves during a major crisis.

My third area of experience is in developing stronger bonds on the ground among Singaporeans. I come with a record of connecting with people from all backgrounds in Jurong, that speaks for itself. I have also spent many years supporting NGOs nationally.

If I am fortunate enough to be elected president, I will be active in mobilising support for ground-up initiatives to uplift every group with a disadvantage, those facing challenges in mental well-being, and everyone who needs a second or third chance.

I will encourage and foster deeper interactions between our different faiths and cultures, so as to deepen our multicultural identity. And I will continue to bridge the diverse views that are natural in our democracy. There is always common ground to be found.

My fellow Singaporeans,

Our most precious asset is our unity and solidarity as Singaporeans. We must deepen that solidarity in the years to come.

It requires deepening respect for all, regardless of backgrounds or educational achievements.

It requires recognising the potential in every Singaporean, and the worth every individual contributes. As they say in Chinese, 天生我材必有用 (tian sheng wo cai bi you yong).

We can, and must, deepen our respect for each other.

Saling Menghormati.

ஒருவருக்க ொருவர் மரியொதை (Oruvarukkoruvar Mariyaadhai)

Xiang Hu Jing Zhong

Respect for All. It is at the heart of our future as Singaporeans. And why our brightest years are ahead of us.

I thank you, each and every one of you for listening to me, and respectfully appeal for your support on Friday.

Majulah Singapura!