Debated in Parliament on 4 Apr 2022.
Mr Murali Pillai asked the Minister for Finance with regard to the spike in pump fuel prices attributable to Russia’s invasion of Ukraine, the implementation of the carbon tax system and the push towards adoption of electric vehicles, whether the Ministry will be prepared to reduce or provide rebates to the petrol duty imposed on motorists or provide road tax rebates to motorists in the short, mid or long term.
Mr Gan Thiam Poh asked the Minister for Finance whether the Government will consider providing all households with ad hoc monthly utility rebates to cushion the inflationary pressure arising from increasing oil prices and supply chain disruptions.
Ms Mariam Jaafar asked the Minister for Finance in light of the sharp rise in petrol prices, whether the Government will consider a temporary reduction in the petrol excise taxes.
Dr Lim Wee Kiak asked the Minister for Finance (a) what intervention measures will the Ministry be prepared to take if oil prices continue to spiral as a result of a prolonged Russia-Ukraine crisis; and (b) whether the Government will look into temporarily lowering the petrol duty to keep the cost of public transport and other services with a heavy reliance on transport affordable for lower-income groups.
Mr Xie Yao Quan asked the Minister for Finance whether the Government will consider a temporary cut in excise duties for diesel products to mitigate inflation.
Mr Xie Yao Quan asked the Minister for Finance in the event of global stagflation, what monetary and fiscal measures will the Government adopt to help (i) businesses, especially SMEs and (ii) low- and middle-income Singaporeans.
Mr Edward Chia Bing Hui asked the Minister for Finance what are the potential measures, in the form of reduced petrol duties or road tax rebates, that the Ministry will consider to assist commercial vehicle owners and private hire vehicle owners in helping to cushion the sharp rise in petrol prices amidst ongoing volatility.
Mr Ang Wei Neng asked the Minister for Finance in the light of the persistent high inflation rate in recent months, whether the Ministry will consider (i) releasing the $100 CDC voucher to each Singapore household by early second quarter of 2022 and (ii) giving a second round of CDC vouchers in 2022 to better assist Singaporeans.
Mr Chua Kheng Wee Louis asked the Minister for Finance (a) in the last five years, what is the annual amount of excise duties derived from petrol and diesel sold to end consumers; and (b) whether the Government can reduce excise duties for intermediate grade petrol and diesel in view of high fuel prices today.
Mr Liang Eng Hwa asked the Minister for Finance given the further upward costs pressure as a result of the Russia-Ukraine conflict (a) whether the Government will consider revising the Households Support Package that was announced in Budget 2022; (b) what are the timelines for the payouts from the various Government packages to support families; and (c) whether the timelines of these payouts can be adjusted in view of the escalating inflationary environment.
Ms Carrie Tan asked the Minister for Trade and Industry (a) whether the Committee Against Profiteering (CAP) has considered the extent of increases to food prices that is reasonable to expect in view of the cost of gas and energy, and in tandem with the Progressive Wage Model; (b) if so, what is the extent; and (c) whether CAP will be providing a set of guidelines for consumers on when it is appropriate to report opportunistic price hikes by merchants on everyday items, especially those at coffee shops and hawker stalls.
Mr Saktiandi Supaat asked the Minister for Trade and Industry (a) whether the Government has fuel reserves, futures or other instruments to hedge against a sudden and significant spike in fuel prices; (b) how does the Government intend to help local transport operators mitigate the effects of such spikes in fuel prices, especially SMEs that are unable to shift the cost burden to their customers; and (c) how will Singapore manage these knock-on effects on our supply chains and our reputation as a logistics hub.
Mr Yip Hon Weng asked the Minister for Trade and Industry (a) whether the Ministry monitors the stall rental and utilities rates imposed by food court and coffee shop operators; (b) if so, how many food court and coffee shop operators have raised charges for stall rental or utilities since the beginning of this year; (c) what is the range of price increases; (d) how can stall operators lodge a complaint against the food court and coffee shop operators for unjustified price increases; and (e) how will the Ministry investigate these complaints.
Ms He Ting Ru asked the Minister for Trade and Industry (a) whether the Government has conducted studies to consider the impact of the insolvency of previous electricity retailers on the cost of living for Singaporeans; and (b) if so, whether the Ministry will release the findings of such studies.
Ms He Ting Ru asked the Minister for Trade and Industry (a) whether the Ministry is tracking the severity of shrinkflation and how widespread the practice is; and (b) whether this will be one of the business practices considered by the Committee Against Profiteering.
Sir, may the Second Minister for Trade and Industry and I answer Question Nos 1 to 15 in our Ministerial Statements on Inflation and Business Costs to be delivered later at today's Sitting?
Please do.
PAPERCUTS