Deputy Prime Minister
On 28 November 1990, Goh Chok Tong took over from Lee Kuan Yew as Singapore's Prime Minister, and Lee Hsien Loong was made one of two Deputy Prime Ministers (along with Ong Teng Cheong). He also continued to serve as the Minister for Trade and Industry until 1992.
In 1992, Lee was diagnosed with lymphoma and underwent a three-month period of chemotherapy. When his treatment began, he relinquished his position as the Minister for Trade and Industry, though he continued to be a Deputy Prime Minister. His chemotherapy was successful, and his cancer has since gone into remission.
Lee was appointed Chairman of the Monetary Authority of Singapore (MAS) in 1998, and in 2001 he was made the Minister for Finance.
To ease the growing budget deficit due to falling tax revenues from cuts in corporate and personal income taxes and other factors such as the Iraq War and SARS outbreak, Lee proposed on 29 August 2003 to raise the GST from three percent to five percent, a change which took place in January 2004.
Lee also initiated several relaxations of the requirements for Singapore citizenship, notably for foreign-born children of Singaporean women. The changes were made after repeated pleas from MPs and the Remaking Singapore Committee.
In the sphere of domestic politics, Lee played a key role as Deputy Prime Minister. In an interview with the media in 1996, ahead of the 1997 general election, he outlined what the ruling party looked for in its candidates for Members of Parliament.
On the international front, Lee helped build relations with other countries as far away as New Zealand.
Read more about this topic: Lee Hsien Loong
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