Singapore Finance Minister Named New DPM In Cabinet Reshuffle

Finance Minister Heng Swee Keat will become deputy prime minister from May 1, in a move that cements his standing as Singapore’s next prime minister.

Meanwhile, both existing deputy prime ministers–Teo Chee Hean and Tharman Shanmugaratnam –will relinquish their appointments, the prime minister’s office (PMO) announced April 23.

They will be appointed senior ministers and remain in Cabinet.

Heng, 57, will remain as finance minister, and continue chairing the Future Economy Council and National Research Foundation.

Teo, 64, will continue as coordinating minister for national security, while Tharman, 62, will be re-designated as coordinating minister for social policies. He will continue to advise the prime minister on economic policies.

In a Facebook post, Lee, 67, he wrote: “The next generation leadership is taking shape, and progressively taking over from me and my older colleagues. The team is working closely together, building up public trust and confidence in their leadership.”

“I ask all Singaporeans to support them, and work together to secure a bright future for Singapore,” he added.