Heng Swee Keat no longer Singapore's next PM; to relinquish Finance portfolio at Cabinet reshuffle

DEPUTY Prime Minister Heng Swee Keat is no longer in the running to become Singapore's next prime minister, with a cabinet reshuffle set to take place in two weeks that will also see the appointment of a new Finance Minister.

During a press conference held at the Istana on Thursday afternoon, Mr Heng, who is the current Finance Minister, cited his age and health as reasons for his decision to step aside as the current leader of the fourth-generation (4G) of ministers.

He added that the next prime minister should have a "sufficiently long runway" to cope with the demands of leading Singapore beyond the Covid-19 crisis.

"This year, I am 60. I will be close to my mid-60s when the crisis is over," said Mr Heng, adding that he had considered the ages at which Singapore's first three prime ministers had taken over the job.

"I would have too short a runway should I become the next prime minister then. We will need a leader who will not only rebuild Singapore post-Covid-19, but also lead the next phase of our nation-building efforts," he said.

He added that it is in Singapore's best interest for someone younger to tackle the huge challenges ahead.

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Mr Heng noted that he suffered a stroke in 2016, and while he is in good health today, he said the top job imposes "exceptional demands" on the person holding that office.

Also at the press conference, Prime Minister Lee Hsien Loong said he accepted Mr Heng's decision, describing it as a "selfless decision" that was made with the best interests of Singapore in mind.

Mr Lee said he discussed the issue of succession with Mr Heng last year when they worked out new Cabinet appointments following the last general election in July.

"We agreed that Budget 2021 would be an important Budget, not an emergency Budget like the five in 2020, but a Budget to take Singapore beyond Covid-19," said Mr Lee.

"I told him it would be good for him to see through Budget 2021, and then he would give up the MOF (Ministry of Finance) portfolio to concentrate on the broader coordinating responsibilities," Mr Lee added.

Mr Lee said there will be consequential moves in other ministries, with a Cabinet reshuffle taking place in about two weeks' time.

He added that Mr Heng will remain First Assistant Secretary-General of the ruling People's Action Party (PAP).

Meanwhile, the fourth-generation team will need time to select a new leader among themselves, said Education Minister Lawrence Wong, who is also a Central Executive Member of the PAP.

"That is why we have requested PM Lee to stay on as prime minister until such time when a new successor is chosen by the team and is ready to take over. We are very grateful that PM has agreed to our requests," Mr Wong said.

He said this unexpected turn of events was a "setback" for the party's succession planning, and he called for support and understanding from Singaporeans as they select another leader from the 4G team.