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Home Commodities

Singapore votes in test of ruling party’s monopoly

by Market News Board
2 months ago
in Commodities, Crypto, Economy News, Gold, Market Overview, Oil, Silver
Singapore votes in test of ruling party's monopoly
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SINGAPORE (Reuters) -Singaporeans were voting in an election on Saturday almost certain to perpetuate the unbroken rule of the People’s Action Party, in a test of public approval for the new prime minister as the city-state braces for economic turbulence from a global trade war. 

The election is a bellwether for the popularity of the PAP, which has ruled since before Singapore’s 1965 independence, with attention on whether the opposition can challenge the ruling party’s tight grip on power and make further inroads after small but unprecedented gains in the last contest. 

Though the PAP has consistently won in landslides with about 90% of seats, its share of the popular vote is closely watched as a measure of the strength of its mandate, with premier Lawrence Wong keen to improve on the PAP’s 60.1% in the 2020 election – one of its worst performances on record.

Wong, 52, became the Asian financial hub’s fourth prime minister last year, promising continuity, new blood and to lead Singapore his own way.

He took over at the end of the two-decade premiership of Lee Hsien Loong, the son of former leader Lee Kuan Yew, the founder of modern Singapore. 

Heavy rains marked the opening of polls at 8 a.m. (0000 GMT), but they stopped by mid-morning. By noon almost half of eligible voters had cast their ballot at one of 1,240 polling stations set up in community centres, schools and other neighbourhood spaces across the city-state.

Polls will close at 8 p.m., with a result expected in the early hours of Sunday. Voting is compulsory in Singapore.

Wong voted in the middle of the day at a polling station near the Botanic Gardens. The Prime Minister did not comment before or after casting his ballot.

Living costs and housing availability in one of the world’s most expensive cities are key issues and a continued challenge for Wong, whose government has warned of recession if the trade-dependent economy becomes collateral damage in the war over steep U.S. tariffs.

LOPSIDED CONTEST

The PAP has long had the upper hand in politics, with a big membership to draw from, influence in state institutions and far greater resources than its untested opponents, which are each running in only a small number of constituencies.

The election will be a lopsided affair, with 46% of all candidates representing the PAP, which is contesting all 97 seats compared to 26 for its biggest rival, the Workers’ Party, which won 10 last time, the most by an opposition party.

 Although a PAP defeat is extremely unlikely, some analysts say the election could alter the political dynamic in the years ahead if the opposition can make more headway, with younger voters keen to see alternative voices, greater scrutiny and more robust debate. 

“It is to be expected that (its) overall electoral support will gradually, gradually dip from general election to general election,” said National University of Singapore political scientist Lam Peng Er. 

“Would Singaporeans be that surprised if the PAP’s electoral support were to dip to 57% or 58%? It will surprise nobody. I don’t think it will even surprise the PAP at all.”

The PAP is keen to avoid upsets and warned voters of the consequences of seat losses for key cabinet members, whom Wong said were critical to balancing ties between the United States and China and navigating Singapore through potentially choppy economic waters.

(Reporting by Xinghui Kok, Jun Yuan Yong and Bing Hong Lok; Editing by Martin Petty)

By Xinghui Kok, Jun Yuan Yong

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