Breakdown of Net Investment Returns and Net Investment Income Components in Contributions to Government Budgets
11 May 2021Parliamentary Question by Chua Kheng Wee Louis:
To ask the Deputy Prime Minister and Minister for Finance (a) for each year in the last five financial years, what is the percentage of the Net Investment Returns (NIR) and the Net investment Income (NII) that contributed to the Government's budget as Net Investment Returns Contribution (NIRC); and (b) what is the estimated percentage of the NIR and the NII to be contributed to the Government's budget as NIRC for this financial year.
Parliamentary Reply by Second Minister for Finance, Mr Lawrence Wong:
From FY2016 to FY2020, the Net Investment Income (NII) and Net Investment Returns (NIR) taken into the Budget as Net Investment Returns Contribution (NIRC) was the maximum 50% allowable under the Constitution. We plan to take in the maximum 50% of NII and NIR for FY2021, in view of the expected overall Budget deficit.