National Development Minister Mah Bow Tan said he accepted responsibility for the unhappiness over the sharp rises in housing prices.<\/p>\n
In addition, he acknowledged that his housing portfolio may have cost him some political points with the electorate.<\/p>\n
Mr Mah said this to reporters on the sidelines of a Building and Construction Authority event held Thursday evening.<\/p>\n
“Housing is always a very sensitive topic, a very sensitive subject,” Mr Mah said. <\/p>\n
“And I guess to the extent that in the last couple of years, housing prices went up very sharply, coinciding with the very dramatic turnaround in the economy. Yeah, I guess…. that resulted in a lot of unhappiness on the ground and I accept responsibility for that.”<\/p>\n
Prime Minister Lee Hsien Loong announced on Wednesday that Mr Mah was stepping down from Cabinet.<\/p>\n
In a statement issued earlier Thursday, Mr Mah revealed that two years ago, he had expressed his desire to retire at the end of the last term of Parliament.<\/p>\n
But he was asked to stay on to fight in the elections.<\/p>\n
Now that the elections have been “fought and won”, Mr Mah said it was all the more reason to step down.<\/p>\n
“I have been privileged to serve under three prime ministers, which has been an exceptionally satisfying and invaluable experience. I’ve never imagined that I could have been given the great honour to serve my country in such a meaningful way,” he said.<\/p>\n
Mr Mah said he welcomes Health Minister Khaw Boon Wan, who will be taking over as National Development Minister.<\/p>\n
“I am confident that (Mr Khaw) will lead the ministry to even greater heights,” he said.<\/p>\n
Asked if his decision was motivated by the outcome of the election results, Mr Mah said it was one of the factors.<\/p>\n
He said it was a “clear signal” that he should retire “sooner rather than later”, and that there was a need for fresh minds and fresh ideas.<\/p>\n
Mr Mah helmed the People’s Action Party team that contested in Tampines Group Representation Constituency (GRC), which garnered 57.2 per cent of votes.<\/p>\n
On his future plans, Mr Mah, who remains a Member of Parliament (MP) for Tampines GRC, said he plans to spend more time with his residents, family and friends.<\/p>\n