Deputy Prime Minister Heng Swee Keat is calling for the general election to be held in Singapore as early as possible.

He made these remarks in a CNA interview aired on Wednesday, May 27.

Singapore's next election must take place by April 14, 2021.

Heng said an election ought to happen soon as "the earlier we can rally everybody together to deal with these very significant challenges ahead, and also to deal with these very significant uncertainties in the months and years ahead", the better to prepare Singapore for the future.

Singapore's economy faces significant long-term challenges that need to be dealt with over the next five to 10 years, he said.

Heng publicly pushing for the GE to be called is the strongest hint by a minister to date that the polls will happen soon.

Heng said, in response to a question if Singaporeans will have to wait until Phase 3 of resuming economic activity before the election: "The sooner that we can deal with the longer term challenges, the better Singaporeans will emerge out of this, and Singapore will emerge stronger. So I would say that, yes, elections are coming nearer by the day, and you have to be prepared for it."

"If you look at what other countries have done, they have been able to do it (hold an election), even under very difficult circumstances. South Korea has done it and in fact, they had a record turnout," he added.

"When we do so, the public health considerations and public safety will be a foremost consideration. Even the way in which elections are to be conducted will be different from before."

Laws added

If the election takes place amid the coronavirus pandemic, it appears Singapore is ready on paper.

A law allowing special, temporary arrangements to be implemented came into operation on May 26.

The Parliamentary Elections (Covid-19 Special Arrangements) Act allows some voters who are under stay-home notices to vote under special arrangements.

It also lets aspiring candidates authorise a representative to file nomination papers for them if they are unable or unfit to do so.

Singapore digging into reserves

Heng's remark's came after it was clear that the government could be drawing up to S$52 billion from past reserves this financial year.

This was after Heng, who is also Finance Minister, announced a fourth budget on May 26.

Heng told CNA: "Our financial position will be a lot weaker in the coming years. And I'm thinking hard about this, about what we need to do, and how we need to continue to find ways that we can manage this difficult financial situation."

"For now, the most important thing is first, keep our people safe. And second, let's get the economy going again, as much as possible. It will not be easy. But if we put our minds to it, we can emerge stronger. And with that, we can begin to rebuild our resources over time."

Heng also set aside S$13 billion in the Contingencies Fund and the Development Contingencies Fund.

These are for urgent, unforeseen expenditures to "respond swiftly to a rapidly changing situation".

This amount is more than the S$3 billion set aside every year for both funds.

He said: "I hope that we do not need to have a fifth budget in order to respond, because if the situation deteriorates, it is going to be very, very fast."

Asked if the government foresees job losses to hit 100,000 jobs within months, Heng said: "There is a range of projections on the expected job losses. We have taken that into account together with the number of new entrants that enter the labour market every year. So, this is how we've sized it, and I believe that for now, that will be sufficient. But if there is a need for us to do even more, we have the resources to do that."