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Little Change To Cabinet w/ New PM, Main Overhaul Post-Election

SINGAPORE

Singapore's state-owned CNA reporting that according to Deputy PM Lawrence Wong, there will not be a significant Cabinet overhaul when he takes over from long-serving PM Lee Hsein Loong on 15 May. Instead, Lee will serve as a senior minister in a marginally-reshuffled cabinet that will be announced a few days before the handover of power.

  • Instead, the main shift from the 3G to 4G (third to fourth generation) of ministers will take place after the next general election, which must take place by November 2025 at the latest.
  • CNA reports that Wong spoke up the prospect of bringing new members into gov't, but that this should be tempered with maintaining experience in gov't. Despite the fact that the change from Lee to Wong represents the third handover of power since Singapore attained self-governance from the UK in 1959, the change in leadership is unlikely to result in any radical change in gov't policy that could rattle markets.
  • There is no signal of when Wong might look to call the next election, but given the sizeable majority for the governing conservative People's Action Party (PAP), the incoming PM will have full flexibility in deciding when to go to the polls.
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Singapore's state-owned CNA reporting that according to Deputy PM Lawrence Wong, there will not be a significant Cabinet overhaul when he takes over from long-serving PM Lee Hsein Loong on 15 May. Instead, Lee will serve as a senior minister in a marginally-reshuffled cabinet that will be announced a few days before the handover of power.

  • Instead, the main shift from the 3G to 4G (third to fourth generation) of ministers will take place after the next general election, which must take place by November 2025 at the latest.
  • CNA reports that Wong spoke up the prospect of bringing new members into gov't, but that this should be tempered with maintaining experience in gov't. Despite the fact that the change from Lee to Wong represents the third handover of power since Singapore attained self-governance from the UK in 1959, the change in leadership is unlikely to result in any radical change in gov't policy that could rattle markets.
  • There is no signal of when Wong might look to call the next election, but given the sizeable majority for the governing conservative People's Action Party (PAP), the incoming PM will have full flexibility in deciding when to go to the polls.