Former Finance Minister Richard Hu dies aged 96

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SINGAPORE: Former Finance Minister Richard Hu died on Friday (Sep 8) at 96 years old. Dr Hu first entered politics in 1984 after contesting in the General Election as a member of the People's Action Party for the Kreta Ayer constituency, where he was elected as a Member of Parliament Therea

Dr Hu first entered politics in 1984 after contesting in the General Election as a member of the People's Action Party for the Kreta Ayer constituency, where he was elected as a Member of Parliament

In 1985, Dr Hu concurrently became the Health Minister, a role which he held until 1987, and the Finance Minister - a portfolio he held for 16 years until 2001. During his term, he introduced the goods and services tax in Singapore to reduce the government's reliance on direct taxation as a revenue source and to broaden the tax base.

 

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