Singapore PM to step down after 20 years in power

The news: Long-standing Prime Minister of Singapore, Lee Hsien Loong, has announced his plans to step down after 20 years at the helm.

The context: Lawrence Wong, deputy Prime Minister and finance minister will become Singapore’s leader on 15 May, having been named as the heir apparent in the People’s Action Party’s (PAP) succession plan in 2022. The PAP has ruled Singapore since it achieved independence, but the party has been struggling to build public support to bolster the financial hub’s status since its poor election results in 2020.

Lee is the son of Singapore’s founding leader, Lee Kuan Yew, and his departure will mark the country’s third leadership transition in its recent history. The 72-year-old Lee had originally planned to step down before turning 70, however those plans were delayed by the Covid-19 pandemic.

What they said: In a post on Linkedin, Lee said: “For any country, a leadership transition is a significant moment. Lawrence and the 4G [fourth generation of leaders] team have worked hard to gain the people’s trust, notably during the pandemic. Through the Forward Singapore exercise, they have worked with many Singaporeans to refresh our social compact and develop the national agenda for a new generation. The 4G team are committed to keeping Singapore working well and moving ahead. These will always be top priorities for the government.”