Singapore’s finance minister steps aside as PM-designate in major shake-up to leadership transition
- Heng Swee Keat will remain as deputy prime minister but will relinquish his finance portfolio at the next cabinet reshuffle in two weeks
- The so-called 4G ministers have asked PM Lee Hsien Loong to stay on until they decide on a new successor
Political analysts reacting to the curveball in what had previously been described as a elaborately planned succession blueprint said the development was unlikely to hurt the resilience of the party, but noted that the speed at which the 4G cabal picked a new leader among themselves would offer hints about their leadership mettle.
“This year I am 60. When I also consider the ages at which our first three prime ministers have taken on the job, I would have too short a runway should I become the next prime minister then,” Heng told local media in a press conference, according to national broadcaster CNA.
“We need a leader who will not only rebuild Singapore post-Covid-19 but also lead the next phase of our nation-building efforts,” Heng said, adding that he planned to hand over his position as finance minister at the next cabinet reshuffle, to take place in two weeks, but would retain the deputy prime ministership.
Prime Minister Lee, speaking in the same press conference, said he understood and respected Heng’s decision.
