(1) And the return of S$35.2 billion and S$45.2 billion to the Government by MAS - means that the Government will have more capital for investment (eg. giving to GIC and Temasek Holdings) and earn more NIRC (Net Income Return Contribution).
(2) With higher NIRC, the Government revenue increases - and the pressure to raise higher taxes will be lesser - good news for the Government and the taxpayers ---- at the back of economy slowdown arising from the trade war.
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