Mitigating Price of Quota Premiums for Motorcycle Owners

Debated in Parliament on 13 Jul 2015.

Summary written by AI (learn more)

MP Gerald Giam proposed lowering the contribution rate of COEs from de-registered motorcycles to the Open Category from 10% to 0% to return more quotas to motorcycle users, highlighting that many riders are lower-income and rely on motorcycles for work.
Transport Minister Lui Tuck Yew explained that the Open Category allows flexibility in the Vehicle Quota System, with all vehicle categories currently contributing 10% to it after gradual reductions from higher rates.
The government will periodically review the contribution rate to balance demand across categories and maintain system flexibility, though no immediate change was committed.

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Gerald Giam Yean Song

Mr Gerald Giam Yean Song asked the Minister for Transport whether the Government will consider reducing the contribution rate of de-registered Category D (motorcycles) COEs to Category E (Open) from the current 10% to 0% in order to return more COEs from de-registered motorcycles to Category D and mitigate the price of quota premiums for motorcycle owners, many of whom are from lower income groups and need their motorcycles for work.

Lui Tuck Yew

Category E (or Open Category) Certificates of Entitlement (COE) can be used to register vehicles from any category. This provides some flexibility in the Vehicle Quota System to accommodate changing demands for different types of vehicle. Currently, all vehicle categories contribute 10% of their quota to Category E. This rate has been

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gradually reduced from 25% over the last three years, with the most recent reduction from 15% to 10% taking effect in February 2015.

We will continue to review the contribution rate to Category E periodically to strike a balance between the demand within each category and the need for flexibility for the system.

Summary written by AI (learn more)

MP Gerald Giam proposed lowering the contribution rate of COEs from de-registered motorcycles to the Open Category from 10% to 0% to return more quotas to motorcycle users, highlighting that many riders are lower-income and rely on motorcycles for work.
Transport Minister Lui Tuck Yew explained that the Open Category allows flexibility in the Vehicle Quota System, with all vehicle categories currently contributing 10% to it after gradual reductions from higher rates.
The government will periodically review the contribution rate to balance demand across categories and maintain system flexibility, though no immediate change was committed.

Questions identified by AI (learn more)

Mitigating Price of Quota Premiums for Motorcycle Owners | PAPERCUTS

Mitigating Price of Quota Premiums for Motorcycle Owners

Debated in Parliament on 13 Jul 2015.

Summary written by AI (learn more)

MP Gerald Giam proposed lowering the contribution rate of COEs from de-registered motorcycles to the Open Category from 10% to 0% to return more quotas to motorcycle users, highlighting that many riders are lower-income and rely on motorcycles for work.
Transport Minister Lui Tuck Yew explained that the Open Category allows flexibility in the Vehicle Quota System, with all vehicle categories currently contributing 10% to it after gradual reductions from higher rates.
The government will periodically review the contribution rate to balance demand across categories and maintain system flexibility, though no immediate change was committed.

Questions identified by AI (learn more)

Full Transcript

Gerald Giam Yean Song

Lui Tuck Yew

Page: 176

gradually reduced from 25% over the last three years, with the most recent reduction from 15% to 10% taking effect in February 2015.

We will continue to review the contribution rate to Category E periodically to strike a balance between the demand within each category and the need for flexibility for the system.

Summary written by AI (learn more)

MP Gerald Giam proposed lowering the contribution rate of COEs from de-registered motorcycles to the Open Category from 10% to 0% to return more quotas to motorcycle users, highlighting that many riders are lower-income and rely on motorcycles for work.
Transport Minister Lui Tuck Yew explained that the Open Category allows flexibility in the Vehicle Quota System, with all vehicle categories currently contributing 10% to it after gradual reductions from higher rates.
The government will periodically review the contribution rate to balance demand across categories and maintain system flexibility, though no immediate change was committed.

Questions identified by AI (learn more)

Mitigating Price of Quota Premiums for Motorcycle Owners

Summary

Questions Identified

Full Transcript

Gerald Giam Yean Song

Lui Tuck Yew

Summary

Questions Identified

Mitigating Price of Quota Premiums for Motorcycle Owners

Summary

Questions Identified

Full Transcript

Gerald Giam Yean Song

Lui Tuck Yew

Summary

Questions Identified