“PAP DOES NOT BELIEVE IN GAMBLING”
Ms Gho also struck out at her election opponent’s position on bitcoin.
Mr Tan, 34, is a big proponent of bitcoin, having "studied" the cryptocurrency as a potential hedge against US dollar irresponsibility. He goes into further detail on his website, using the moniker "Encik Bitcoin" and calling it an "inflation-proof" asset.
Among his proposed policies is for a Singapore dollar denominated Bitcoin exchange-traded fund (ETF) to be established as a form of savings protection for Singaporeans.
Ms Gho said she has been told by “many of the residents” she met that they have “rejected” Mr Tan’s proposals.
“Bitcoin is not backed up by any physical assets or any government body, and this is unlike the US treasury bonds or gold. It can go to zero. There is nothing – nothing – to back it up,” she said.
“My opponent will and can only tell you the upside. This is what I call gambling. And let me say this again in very clear terms: The PAP does not believe in gambling.”
Mr Tan’s other proposals are similar, she said, proceeding to list bitcoin “baby products” and having an additional 0.5 per cent interest on Central Provident Fund (CPF) money to be used for investment into bitcoin products “to be paid by the government” as examples.
“I also failed to distil the logic from the motherhood statements in some of his explanations,” she added.
Ms Gho said it is important not to confuse ideas and suggestions with “actual policy making”, adding that the government does not “run a country based on flashy sound bites”.
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