Economy & business — Topics

11 Mar 2022

Update on Review to Extend Working Mother's Child Relief and Parenthood Tax Rebate to Single Unwed Parents

Louis Ng asked for an update on extending the Working Mother’s Child Relief and Parenthood Tax Rebate to single unwed parents, and when the review findings would be available.
The Second Minister for Finance replied that these tax measures were designed to support parenthood within marriage and reflect societal norms, though all children receive substantial government benefits regardless of parents’ marital status.
The Minister confirmed unwed working mothers already receive support like maternity leave and childcare subsidies, and emphasized the government will continue working with community partners to assist vulnerable single parents.
Louis Ng highlighted the stigma faced by single unwed parents and urged a policy review to foster a more inclusive society, asking if a mother who marries and later divorces could qualify.
The Minister committed to ongoing support for single mothers without distorting societal values and promised to clarify the specific tax eligibility questions raised.

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10 Mar 2022

Exempted Business

PAP MPs argued that exempting certain businesses from the new competition law is necessary to protect nascent industries and allow for strategic economic planning, citing examples like public transport and energy utilities which require stability.
WP MPs expressed concern over the broad scope of exemptions, warning it could create an uneven playing field and undermine the law's intent, urging for more precise criteria and sunset clauses to limit long-term exclusions.
The Minister for Trade and Industry clarified that exemptions are tightly defined and subject to periodic review, emphasizing that the law’s primary goal is to foster fair competition while safeguarding essential public interests.

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10 Mar 2022

Committee of Supply – Total Sums for Main Estimates, Development Estimates and Resolutions

The Committee of Supply approved the sum of $102.5 billion for Main Estimates expenditure for the financial year 2022-2023.
It also approved $27.8 billion for Development Estimates expenditure for the same financial year.
The Second Minister for Finance reported and moved for Parliament's agreement to these resolutions, which was subsequently agreed to.

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10 Mar 2022

Committee of Supply – Heads B, C, D, E, F, G and Z

The Chairman proposed to approve the sums for Heads B, C, D, E, F, G and Z in the Main Estimates as stated in Paper Cmd 12 of 2022, and the motion was agreed to.
The Chairman then proposed to approve the sums for Heads B, C, E and F in the Development Estimates as stated in the same paper, and the motion was also agreed to.
The debate concluded with the formal adoption of both sets of expenditure heads without amendments.

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10 Mar 2022

Estimates of Expenditure for the Financial Year 1 April 2022 to 31 March 2023

The debate on the Estimates of Expenditure for the financial year from 1 April 2022 to 31 March 2023 was convened in the Committee of Supply.
The session was chaired by Deputy Speaker Ms Jessica Tan Soon Neo, marking the 7th Allotted Day for consideration.
The proceedings followed formal procedural orders without substantive policy discussions in the provided excerpts.

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10 Mar 2022

Help for SMEs Adversely Affected by Increased Fuel and Energy Costs Due to Conflict in Ukraine

The Minister explained that while Singapore’s energy supply is diversified, it remains exposed to global gas price volatility caused by the Ukraine conflict, likely keeping electricity prices high.
Existing measures include ensuring fuel reserves for generators, a Standby Fuel Facility, and extending the Temporary Retail Electricity Contracting Support scheme to stabilize prices.
Businesses can access support through grants like the Small Business Recovery Grant and financing schemes such as the Temporary Bridging Loan and Enterprise Financing Scheme.
The government is enhancing productivity and skills programs like SkillsFuture Enterprise Credit and the Productivity Solutions Grant to help SMEs upgrade and manage costs.
Authorities are closely monitoring the situation and stand ready to implement further measures to protect energy security and support affected businesses and employees.

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10 Mar 2022

Ensuring that Recent Increase in Petrol Prices Is Not Profiteering

The Ministry of Trade and Industry stated that petrol price increases reflect global crude oil trends and the Russia-Ukraine conflict, with some retailers adjusting prices soon after the war began.
The Competition and Consumer Commission of Singapore monitors the market for anti-competitive behavior, while the Consumers Association of Singapore provides a price comparison tool for consumers.
The government is closely watching petrol price movements and the situation for transport drivers, but has not announced a new support package, citing existing measures and monitoring developments.

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9 Mar 2022

Committee of Supply Reporting Progress

Minister Masagos Zulkifli moved that the Committee of Supply report progress and sit again the next day, which the Chairman approved.
The Committee of Supply made further progress on the Estimates of Expenditure for the financial year 2022/2023.
The Deputy Speaker formally reported this progress and asked for leave to sit again the following day, which was agreed.

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9 Mar 2022

Estimates of Expenditure for the Financial Year 1 April 2022 to 31 March 2023

The Parliament proceeded to consider the Estimates of Expenditure for the financial year 1 April 2022 to 31 March 2023 on the 6th Allotted Day in the Committee of Supply.
Mr Speaker was in the Chair to oversee the proceedings, but the content of the debate itself is not provided in the transcript.

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8 Mar 2022

Committee of Supply Reporting Progress

The Deputy Leader of the House sought consent to report progress on the Committee of Supply and adjourn the sitting until the next day.
The Chairman consented and formally resolved to report progress and seek leave to sit again.
The Committee of Supply reported making progress on the Estimates of Expenditure for the financial year 2022/2023.
The Speaker acknowledged the report and allowed the adjournment.

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8 Mar 2022

Committee of Supply – Head W (Ministry of Transport)

Parliament debated the Ministry of Transport's budget, focusing on how Singapore can strengthen its transport hub status and adapt to post-pandemic changes, including a shift from "just-in-time" to "just-in-case" inventory strategies that require innovative land-scarce storage solutions.
Speakers highlighted the severe impact of COVID-19 on the aviation sector, with questions on the recovery outlook, support for affected workers, and plans for Terminal 5, while noting the maritime sector's resilience and record container throughput.
Discussions emphasized digitalization and smart mobility, with calls for updates on the Smart Mobility 2030 plan, a centralized commuter information platform, and progress on autonomous vehicle trials and new technologies like air taxis.
Members addressed public transport workforce challenges, including attrition and the need for a reserve bus captain pool, and suggested ways to flatten peak-hour travel demand through work-from-home incentives and off-peak fare discounts.
The expansion of the cycling network and the need for dedicated paths were raised, alongside concerns about the sustainability of transport infrastructure projects like the Cross Island Line and Jurong Regional Line given changed travel patterns.

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8 Mar 2022

Committee of Supply – Head L (Ministry of Sustainability and the Environment)

Senior Minister Teo Chee Hean announced Singapore’s commitment to achieve net-zero emissions by around 2050, supported by a revised carbon tax trajectory rising to $50–80 per tonne by 2030, with revenue recycled to support households and businesses in the green transition.
Ministers outlined whole-of-government efforts to decarbonize key sectors: expanding solar deployment and importing low-carbon electricity; accelerating EV adoption with charging infrastructure, regulatory updates, and incentives; greening buildings and advancing urban R&D; and transforming Jurong Island into a sustainable energy and chemicals hub.
The government will invest in R&D, enterprise support, and workforce upskilling—including through the Enterprise Sustainability Programme, Green Finance, and SkillsFuture—to grow a green economy, with strong emphasis on SMEs, talent development, and fostering multi-stakeholder collaboration under the Singapore Green Plan 2030.

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8 Mar 2022

Estimates of Expenditure for the Financial Year 1 April 2022 to 31 March 2023

The Parliament commenced consideration of the estimates of expenditure for the financial year from 1 April 2022 to 31 March 2023.
The debate was formally opened under the Committee of Supply on the 5th allotted day.
The Speaker presided over the proceedings to facilitate the review of government spending plans.

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7 Mar 2022

Potential Impact on Singapore's Investments and Essential Imports from Escalation of Tension in Ukraine and Neighbouring Regions

The Minister for Trade and Industry noted that while Singapore’s direct investments in Ukraine are limited and essential imports from the region are minimal, the conflict’s longer-term indirect effects—such as higher energy costs and strained global supply chains—could significantly impact the economy.
Key disruptions include rising oil and gas prices affecting energy costs, and potential shortages of commodities like wheat, nickel, and palladium, which could raise prices for goods in sectors like manufacturing, construction, and technology.
The government is enhancing its multi-pronged strategy to manage supply chain risks by diversifying imports, stockpiling, boosting local production, and collaborating with businesses to secure alternative sources, alongside budgetary support for households and firms.
Measures are being continuously reviewed, with additional actions possible if the situation worsens, and companies are urged to update business continuity plans to mitigate disruptions.

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7 Mar 2022

Variations to Existing Waste Management Contracts under Government Entities to Factor in Progressive Wage Model

The National Environment Agency has six major waste collection contracts expiring after 2024, accounting for over 90% of government waste management value, alongside over 100 smaller agency contracts mostly ending by 2024.
An advisory will be issued to government agencies to allow contract variations with waste management service providers to account for cost increases from the Progressive Wage Model (PWM), which was announced with a 1.5-year lead time before implementation.
For contracts signed before the PWM announcement, agencies may consider variations with justification or mutually agree to terminate and re-tender, while the Progressive Wage Credit Scheme provides transitional support to cushion wage increases.

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7 Mar 2022

Committee of Supply Reporting Progress

Mr. Zaqy Mohamad moved to report progress for the Committee of Supply and requested to sit again the next day.
The Chairman consented, and the motion was resolved to report progress and adjourn.
Deputy Speaker recognized Senior Minister of State Zaqy Mohamad to formally report progress on the 2022/2023 Estimates.
Mr. Zaqy Mohamad confirmed the Committee of Supply had made further progress and asked to resume the following day.
The Deputy Speaker approved the motion, concluding the session until the next sitting.

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7 Mar 2022

Committee of Supply – Head L (Ministry of Sustainability and the Environment)

Members of Parliament highlighted the need for accelerated R&D and industry support to develop low-carbon technologies like hydrogen and to grow Singapore's green economy, including sectors such as carbon trading and green ICT, while emphasizing that sustainability offers competitive advantages beyond compliance.
The debate underscored the importance of government measures to enable businesses to transition sustainably, including funding, skills development, and tools to track environmental impact, while addressing uncertainties in costs and benefits.
It was proposed that green public procurement could drive market demand and incentivize innovation, but this requires careful consideration of trade-offs in sectors like housing, alongside other levers such as regulations, incentives, and public education campaigns.

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7 Mar 2022

Committee of Supply – Head S (Ministry of Manpower)

The Ministry of Manpower announced significant enhancements to the Progressive Wage Model and Workfare Income Supplement, including expanding PWM coverage to 94% of full-time lower-wage workers by early 2023 and increasing Workfare qualifying income cap to $2,500 monthly with a new $500 minimum monthly earning requirement, supported by $9 billion in government spending over five years.
A new Complementarity Assessment Framework (COMPASS) for Employment Pass applicants will be implemented from September 2023, evaluating factors like salary relative to local PMET wages, qualifications, firm diversity, and support for local employment, with a $20,000 monthly salary exemption for senior management roles.
The government is expanding the Household Services Scheme to include basic child-minding and elder-minding services, promoting flexible work arrangements, and enhancing mental well-being support in workplaces, while enshrining fair employment guidelines in law to strengthen workplace fairness.

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7 Mar 2022

Estimates of Expenditure for the Financial Year 1 April 2022 to 31 March 2023

The debate on the Estimates of Expenditure for the financial year 1 April 2022 to 31 March 2023 commenced under the Committee of Supply, with procedural orders read for the 4th Allotted Day.
The session began with the Speaker presiding, marking the formal start of deliberations on the government's proposed expenditure for the period.
No substantive ministerial speeches or policy debates were recorded in the provided excerpts, focusing solely on procedural commencement.
The debate is structured for consideration of expenditure estimates across various ministries and agencies for the stated financial year.
The proceedings are part of the annual parliamentary budget cycle, ensuring legislative review of government spending plans.

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4 Mar 2022

Update on Proposed Guidelines for Insurers to Adopt Fair and Responsible Practices Towards Persons with Disabilities and Mental Health Conditions

Leon Perera asked for an update on proposed guidelines for insurers to treat persons with disabilities and those with mental health conditions fairly, and the reasons for delays.
The Monetary Authority of Singapore (MAS) and Ministry of Social and Family Development (MSF) have engaged insurers to ensure fair practices, with reviews finding no unfair underwriting but noting communication improvements needed.
MAS will codify fair underwriting principles into guidelines, ensuring applications from persons with disabilities are assessed on risk-relevant information rather than disability status alone.
The guidelines' scope has been expanded to include a broader range of financial institutions and customers, with public consultation expected in the second half of 2022.
MAS and MSF continue to engage stakeholders, and the Life Insurance Association is developing a consumer guide to enhance transparency in insurers' risk assessments.

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