In the world of politics, campaigns are often a financial battleground. The recently concluded Presidential Election in Singapore witnessed a fascinating spending showdown.
Among the three candidates, President Tharman Shanmugaratnam emerged as the top spender, shelling out a staggering S$738,717 (US$540,000) for his campaign, according to candidate declarations released by the Elections Department (ELD) on 20 October, as reported by Channel NewsAsia.
The Presidential Campaign Landscape
Before delving into the specifics of President Tharman’s campaign spending, it’s essential to understand the broader context of the Presidential Election in Singapore.
Each candidate in this election was allowed to spend up to S$812,822.10. This spending limit was determined by ELD guidelines, which state that the cap is either S$600,000 or 30 cents for each registered elector.. With a total of 2,709,407 electors, this was no small feat for the candidates.
President Tharman’s election expenditure overshadowed his competitors by a substantial margin. His campaign expenditure was almost twice of Mr. Ng Kok Song’s, who spent S$312,131, and dwarfed Mr. Tan Kin Lian’s, whose campaign expenses amounted to S$71,366.
Tharman eventually secured a landslide victory in the election, receiving 70.4% of the vote. In contrast, Mr. Ng received 15.72% of the vote, and Mr. Tan Kin Lian garnered 13.88%.
Breaking Down President Tharman’s Spending
Now, let’s dissect how President Tharman allocated his campaign funds. The largest chunk of his expenditure, amounting to S$481,226, was dedicated to non-online election advertising.
This included expenses related to printing and displaying banners and posters, as well as printing and distributing campaign brochures.
In the age of digital campaigns, online advertising is a vital component. President Tharman allocated S$141,865 for online election advertising, which encompassed social media promotion, his campaign website, and interviews with youth and grassroots organizations.
In an interesting twist, Mr. Tharman’s expenses also included S$300 paid to ELD for the removal of six campaign materials that violated the rules of the election.
Among the six violating materials, five were put up within 50 meters of a polling station, and one was placed on a tree without the permission of the National Parks Board.
While traditional rallies were absent in this year’s election, President Tharman organized an election meeting at Pasir Panjang Power Station for $8,640.
Rivals in the Campaign Spending Game
Election advertising was a significant expense for all three candidates. Mr. Tan Kin Lian, the candidate with the smallest expenditure, allocated almost S$70,000 to non-online advertising, and only S$20 on online mediums. His investment primarily went towards printing posters and covering the expenses for manpower.
On the other hand, Mr. Ng Kok Song, who adopted a different approach,allocated more of his campaign budget on online advertising, prioritizing social media and appearances on talk shows and podcases. He spent a substantial S$280,800 on online promotion, and a little over S$1,000 on non-online promotion.
Financial Support and Donations
President Tharman’s campaign received financial support from seven donors. Notably, he received S$200,000 from Mr. Koh Poh Tiong, a board director at Fraser and Neave, S$200,000 from Mr. Wong Ngit Liong, the executive chairman of Venture Group, and S$100,000 from Mr. Yong Ming Chong, the CEO of Dymon Asia Capital. These were among the notable contributions that supported his campaign.
A spokesperson from Mr. Tharman’s campaign team stated that unspent donations would be returned proportionately to the donors.
Mr. Tan Kin Lian, in contrast, received more than S$41,800 in donations from approximately 120 people and despite his campaign having the backing of opposition politicians, they were not seen on the list of donors for Tan’s campaign.
Mr. Ng Kok Song opted not to declare any donations, affirming that he financed his campaign using his personal savings and did not accept external contributions.
A Historical Perspective
It’s worth noting that President Tharman’s expenditure is the the highest so far, out of the last three presidential elections, where Halimah Yacob spent $220,875 on her 2017 campaign, and $503,000 by Dr Tony Tan in his 2011 campaign.
