Economy & business — Topics

5 Mar 2021

Exempted Business (Committee of Supply)

The Leader of the House requested consent to extend the parliamentary session past 8:00 PM to continue debating the Estimates for the 2021/2022 financial year.
The Deputy Speaker granted consent, and the motion was formally presented to and agreed upon by the Members present.
A resolution was passed to proceed with the business of the Supply beyond 8:00 PM at that day’s sitting.

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5 Mar 2021

Committee of Supply – Head W (Ministry of Transport)

Speakers expressed concern over the financial sustainability of public transport, noting that both bus and rail operations are heavily subsidised and that the current fare model may not cover operating costs in the long term.
The debate highlighted challenges in the aviation sector due to COVID-19, with calls for more targeted support for aerospace companies and workers, as well as strategies to safely revive international travel and maintain Singapore’s status as an aviation hub.
There were suggestions to enhance the transport system through new mobility solutions, such as integrated mobility tickets, improved feeder bus services, and expanded cycling infrastructure, while ensuring affordability and inclusivity for all commuters.

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5 Mar 2021

Estimates of Expenditure of Singapore for the Financial Year 1 April 2021 to 31 March 2022

The debate on the Estimates of Expenditure for the financial year 1 April 2021 to 31 March 2022 commenced under the Committee of Supply on its 6th allotted day.
Mr Speaker presided over the session, facilitating the formal consideration of the government's proposed expenditure plans.
The discussion focused on the detailed budget allocations and spending priorities for the upcoming financial year, emphasizing fiscal responsibility and resource allocation.

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5 Mar 2021

Commencement Time of Committee of Supply

The Speaker announced the immediate commencement of the Committee of Supply to debate the Estimates, following the conclusion of the Ministerial Statement.
A revised "guillotine" time for the Ministry of Transport (Head W) was set for 2:10 pm due to the schedule change.
Members will be notified of revised conclusion times for subsequent Heads of Expenditure as the debate proceeds.

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4 Mar 2021

Efforts to Simplify and Render More Transparent Fee Structure of Taxicabs in Light of Rise of Private-hire Cars

Assoc Prof Jamus Jerome Lim asked for an update on efforts to simplify and clarify taxi fees and whether transparency rules would extend to private-hire cars.
Ong Ye Kung stated that since 2015, taxis have a standardized metered fare structure requiring operators to publish booking charges, per-distance rates, and surcharges.
Under the 2020 point-to-point framework, private-hire car operators must disclose trip fares at booking and publish any additional charges.

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4 Mar 2021

Individual Resale of Excess Power Produced from Private Sources

Assoc Prof Jamus Jerome Lim questioned whether the Ministry for Trade and Industry has considered establishing a system for individuals to resell excess power from private sources like home solar panels.
Chan Chun Sing explained that households and small businesses can already sell excess solar power into the wholesale market through intermediaries like SP Services via the SCT or ECIS schemes.
He added that larger businesses can directly sell excess power by registering as market participants with the Energy Market Company, and more details are available on the EMA website.

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4 Mar 2021

Computation of HDB Loan Eligibility Based on Higher Incomes Prior to COVID-19 Effect

Denise Phua asked if HDB could calculate housing loan eligibility based on pre-COVID-19 incomes and adjust it before key collection.
Desmond Lee explained that HDB's Loan Eligibility letter uses current income to ensure realistic budgeting and prevent over-commitment.
He noted that using higher pre-pandemic incomes could mislead buyers and risk their inability to complete the purchase if incomes drop later.
Lee emphasized financial prudence, advising buyers to plan based on current income and choose affordable flats.
He added that HDB would assess extenuating circumstances on a case-by-case basis for those needing assistance.

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4 Mar 2021

Committee of Supply Reporting Progress

The Leader of the House moved to report progress and adjourn the sitting to the next day.
The Chairman consented, and a formal resolution was passed to report progress and sit again tomorrow.
Indranee Rajah reported that the Committee of Supply had made progress on the 2021/2022 Estimates of Expenditure.
The Speaker formally acknowledged the report and the adjournment.

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4 Mar 2021

Estimates for the Financial Year 1 April 2021 to 31 March 2022

The Committee of Supply met for its fifth allotted day to review the budget estimates for the financial year from 1 April 2021 to 31 March 2022.
The session was chaired by the Deputy Speaker, who oversaw the proceedings and ensured the debate followed parliamentary procedures.
The focus was on scrutinising government expenditures and allocations for the upcoming fiscal year to ensure accountability and effective use of public funds.

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4 Mar 2021

Proposal to Consider Wholesale Insurance for Banks and Other Credit Card Issuers to Permit Easier Write-offs for Smaller Transaction Amounts

Assoc Prof Jamus Jerome Lim proposed wholesale insurance for banks to ease write-offs for small fraudulent credit card transactions, citing rising fraud cases.
Minister Ong Ye Kung responded that banks prefer investing in fraud prevention systems rather than insurance, which could raise consumer costs, and emphasized shared responsibility between banks and customers.
The Minister outlined existing protections, such as limited consumer liability and merchant recovery for unauthorized payments, while noting ongoing reviews of the industry Code of Practice.
Assoc Prof Lim follow-up questioned if regulations could shift more fraud liability to financial institutions, akin to the US model, to reduce consumer burden.
Minister Ong reiterated the current balanced approach, including consumer education and evolving safeguards, while ensuring fairness to banks and ongoing policy updates.

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3 Mar 2021

Committee of Supply Reporting Progress

The Leader of the House, Ms Indranee Rajah, sought and received consent to move that progress be reported and to adjourn the sitting until the next day.
The House resolved to report progress on the Committee of Supply and to sit again the following day.
The Committee of Supply was confirmed to have made progress on the Estimates of Expenditure for the financial year 2021/2022.
The Deputy Speaker formally acknowledged the report and granted leave for the sitting to resume the next day.

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3 Mar 2021

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

Mariam Jaafar called for a strategic review of skills and jobs in the green economy to ensure local workers benefit, and for integrating sustainable development education in schools to prepare an informed citizenry.
Edward Chia proposed an "ESG mark for Singapore" with tiered, sector-specific standards to guide businesses, investors, and consumers, and suggested incorporating ESG criteria into enterprise grant evaluations.
Desmond Choo asked for additional government support for SMEs to adopt green technologies and for a transition plan for the oil and gas sector, seeking clarity on new green jobs and how to prepare workers for them.
Henry Kwek emphasized a balanced approach to the petrochemical sector, urging for high carbon efficiency standards, and requested an update on carbon capture technologies from the Ministry.

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3 Mar 2021

Committee of Supply – Head S (Ministry of Manpower)

The Ministry of Manpower outlined measures to secure Singapore's economic rebound by extending job support schemes like the Jobs Growth Incentive and SGUnited Jobs and Skills Package, while also focusing on uplifting lower-wage workers through the expansion of the Progressive Wage Model to the food services and retail sectors.
Significant reforms were announced for migrant worker management, including a new onboarding centre, plans to expand the Foreign Employees Dormitories Act to cover all dormitories, and enhanced healthcare and social support systems to improve safety, health, and well-being.
The government will raise the retirement and re-employment ages and increase CPF contribution rates for senior workers from 2022, supported by a $1.3 billion Senior Worker Support Package to help companies adjust.

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3 Mar 2021

Estimates of Expenditure for the Financial Year 1 April 2021 to 31 March 2022

The Committee of Supply convened for the 4th Allotted Day to deliberate on the Estimates of Expenditure for the financial year from 1 April 2021 to 31 March 2022.
Proceedings were formally opened by the Speaker, who presided over the session and guided the initial procedural steps for the debate.
The discussion focused on the government's proposed budget allocation and spending plans for the upcoming financial year.

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2 Mar 2021

Committee of Supply Reporting Progress

The Deputy Leader of the House, Mr Zaqy Mohamad, sought and received consent to report progress and adjourn the sitting.
The Committee of Supply was resolved to report progress and asked for leave to sit again the following day.
Mr Zaqy Mohamad reported that the Committee made progress on the Estimates of Expenditure for the 2021/2022 financial year.
The Deputy Speaker acknowledged the report and approved the resumption of the sitting at the next session.

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2 Mar 2021

Committee of Supply – Head S (Ministry of Manpower)

The Ministry of Manpower was commended for its crisis management during COVID-19, successfully saving jobs and maintaining a low unemployment rate through tripartism, but MPs raised concerns about ongoing support for hard-hit sectors and workers once the Jobs Support Scheme ends.
MPs highlighted issues of underemployment, particularly for PMEs and recent graduates, and proposed enhancing the Progressive Wage Model, revising the Industrial Relations Act, and creating a more permanent and integrated system for job retraining and unemployment insurance.
The debate emphasized the need to better support vulnerable groups, including the elderly seeking dignified employment, lower-wage workers, and foreign domestic workers, while also adapting manpower policies for digitalization, remote work, and evolving industry needs.

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2 Mar 2021

Committee of Supply – Head Q (Ministry of Communications and Information)

Members emphasized the urgent need to develop tech talent and support SMEs, MSMEs, and hawkers in digital transformation, citing a growing talent gap and uneven adoption across sectors.
The government outlined initiatives like the Digital Leaders Programme, CTO-as-a-Service, and Seniors Go Digital, while also focusing on cybersecurity, data privacy, and inclusive access for vulnerable groups.
Debates highlighted the importance of bridging the digital divide through community partnerships, infrastructure upgrades like 5G, and ensuring government communications are accessible in multiple languages.

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2 Mar 2021

Committee of Supply – Head V (Ministry of Trade and Industry)

The debate focused on Singapore's economic response to COVID-19, emphasizing the need to pivot from a pre-pandemic world and build a new, resilient economy by attracting investments, strengthening global value chains, and developing unique capabilities.
Key strategies highlighted include enhancing Singapore's position as a trusted global business and technology hub, deepening corporate and worker capabilities through schemes like the Local Enterprises Funding Platform and Tech.Pass, and fostering innovation and R&D to drive productivity and competitiveness.
Speakers underscored the importance of supporting SMEs and local enterprises through digitalization grants, specialized advisory services, and collaborative initiatives, while also addressing the need to balance fiscal prudence with strategic investments for long-term growth.

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2 Mar 2021

Estimates of Expenditure for the Financial Year 1 April 2021 to 31 March 2022

The Parliament convened for the 3rd Allotted Day to consider the Estimates of Expenditure for the financial year from 1 April 2021 to 31 March 2022 in the Committee of Supply.
The Speaker was in the Chair to oversee the proceedings, ensuring orderly debate on the proposed government spending for that period.
The debate focused on the detailed examination of expenditure plans, with members expected to scrutinize and question the budget allocations.

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1 Mar 2021

Tax Relief on Cash Top-ups Made to MediSave Accounts of Family Members and Dependants

Don Wee asked whether tax relief could be granted on cash top-ups made to MediSave accounts of family members and dependants.
Heng Swee Keat explained that tax relief is currently given for voluntary cash top-ups to one’s own MediSave Account, with caps to prevent disproportionate benefits for the wealthy.
Tax relief for top-ups to family members’ MediSave accounts is accorded to the recipients, not the top-up payer.
MediSave can also be used directly for family members’ medical expenses within withdrawal limits.
The Government will continue reviewing policies to ensure relevance and to encourage family support.

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