Economy & business — Topics

1 Mar 2021

Review of New Rail Financing Framework to Ensure Financial Sustainability of Rail Network

The debate was initiated by Chua Kheng Wee Louis, who inquired whether a review of the New Rail Financing Framework is underway, the considerations for ensuring financial sustainability, and the expected completion timeline amid operator losses.
Ong Ye Kung responded that the question, along with related public transport finance matters, will be addressed during the Ministry of Transport's Committee of Supply debate in early March.

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1 Mar 2021

Fare Revenues and Profitability of Thomson-East Coast Line Rail Operator

The Thomson-East Coast Line (TEL) operates under a gross cost model where the government collects fare revenue and pays a service fee to the operator, SMRT TEL.
For the financial year ending 31 March 2020, TEL fare revenue was about $0.2 million, while the service fee paid to the operator was about $23 million, resulting in an operating loss of $0.13 million for the operator.
The government accepts this initial loss as expected, given that TEL is opening in phases and ridership needs time to build up, which allows for resolving teething issues and ensuring reliability.

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1 Mar 2021

Appeals for Jobs Support Scheme Payout to Cover Fees of Non-executive Directors

Gan Thiam Poh asked for the number of appeals made, successful appeals, and successful cases involving payouts to multiple companies for non-executive director fees under the Jobs Support Scheme (JSS).
Heng Swee Keat explained that JSS supports wages to retain local employees and was extended to shareholder-directors who draw a salary with CPF contributions, but non-executive directors are not considered employees as they receive director’s fees without salary or CPF.
As of 31 January 2021, there were 1,634 JSS appeals related to shareholder-directors, with about 22% approved, but none of the approved appeals involved director’s fees for non-executive directors, consistent with JSS policy.

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1 Mar 2021

Committee of Supply Reporting Progress

The Leader of the House requested consent to report progress and seek leave for the Committee of Supply to sit again the next day.
The Chairman consented, and a resolution was passed to report progress and adjourn the sitting.
The Leader of the House formally reported that the Committee of Supply had made further progress on the 2021/2022 Estimates of Expenditure.
The Speaker granted leave for the Committee to resume its proceedings the following day.

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1 Mar 2021

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

The Parliament began the Committee of Supply proceedings for the 2021-2022 financial year on the second allotted day.
The debate focused on the estimates of expenditure for the period from 1 April 2021 to 31 March 2022.
The session was presided over by Mr Speaker to facilitate the consideration of the budget allocations.

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1 Mar 2021

Fourth Supplementary Estimates of Expenditure for FY2020/2021

The Fourth Supplementary Estimates of Expenditure for FY2020/2021 were approved by the Committee of Supply without amendments.
A total of $9,124,100 was allocated under the Fourth Supplementary Main Estimates for public services.
A total of $107,489,900 was allocated under the Fourth Supplementary Development Estimates for public services.
The resolutions for both estimates were reported and agreed to by Parliament.
The Second Minister for Finance formally moved and secured parliamentary agreement for the resolutions.

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1 Mar 2021

Promoting Demand for Locally Grown Produce

The Ministry is promoting local produce through campaigns like Singapore Food Story, the SG Fresh Produce logo, and partnerships with retailers and e-commerce platforms to boost consumer support and market access.
Initiatives such as the upcoming "Clean and Green" certification and Citizens' Workgroup recommendations aim to enhance sustainability, with plans for pilots targeting specific customer groups like new mothers.
The Lim Chu Kang masterplanning will integrate waste management and recycling services to address environmental concerns, while export support for local farms is encouraged to improve competitiveness without compromising the "30 by 30" food security goal.

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26 Feb 2021

Clarification by Deputy Prime Minister and Minister for Finance

Deputy Prime Minister Heng Swee Keat clarified that the main components of the "other big part" mentioned in the Budget debate are land sales and the Net Investment Returns Contribution (NIRC).
He corrected his earlier statement to specify that the second component is "Investment and Interest Income" rather than the NIRC, which is already being used for spending.
The correction was made in a written statement circulated with the Speaker's leave to provide factual accuracy to his earlier reply during the Budget debate.

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26 Feb 2021

Co-Payment in Integrated Shield Plans for Specific Hospital Categories and Breakdown of Average Claims Made through Full Riders of Integrated Shield Plans

Miss Rachel Ong asked whether the Ministry of Health will limit the 5% co-payment requirement to specific hospital categories with unsustainable cost increases rather than applying it universally across all Integrated Shield Plans.
She also asked how the Ministry safeguards policyholders’ interests when insurers change terms for full-cover plans signed before March 2018, and for data on average claims growth from 2015 to 2020 for private hospitals, Class A wards, and Class B1/below wards in restructured hospitals.
The Minister responded that co-payment is a key principle to encourage prudence and affordability, explaining that full riders without co-payment led to over-consumption and higher costs, which is why a 5% minimum was mandated for new riders from 2019.
Insurers can adjust pre-2018 plans under their contracts but must notify policyholders 30 days in advance, and some insurers offer co-payment limits or allow use of MediSave for the co-payment amount.
The Ministry will continue working with stakeholders to promote cost-effective healthcare and ensure sustainability, using tools like fee benchmarks and care guides.

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26 Feb 2021

Education for Singapore-based Businesses Venturing Overseas on Doing Business in Countries Facing Economic Sanctions

Leon Perera asked if government agencies educate Singapore-based businesses on sanction requirements, especially in high-risk countries, and what actions are taken to prevent sanctions violations.
Chan Chun Sing stated that businesses are primarily responsible for complying with laws, including UNSC sanctions, but the government supports awareness through advisories from MTI, Singapore Customs, and Enterprise Singapore.
The government also organizes outreach events like seminars to teach businesses best practices for due diligence and identifying red flags to avoid sanctions breaches.

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26 Feb 2021

Committee of Supply Reporting Progress

Mr Zaqy Mohamad sought and received consent to report progress and adjourn the debate, with the Committee of Supply to reconvene on 1 March 2021.
The Chairman resolved that progress be reported and leave to sit again be granted, followed by the Deputy Speaker resuming the Chair of the House.
Mr Mohamad formally reported that the Committee of Supply had made progress on the 2021/2022 Estimates of Expenditure.
The Deputy Speaker concurred with the adjournment, stating, "So be it," concluding the session.

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26 Feb 2021

Committee of Supply – Head M (Ministry of Finance)

MPs raised concerns about fiscal accountability, prudent resource allocation, and value-for-money, especially during COVID-19, with questions on multi-agency projects, large infrastructure spending, and the Jobs Support Scheme’s broad-based approach versus targeted support.
The debate included proposals for an independent fiscal council to scrutinize budgetary policies, which the government rejected, citing Singapore’s strong fiscal track record and existing robust oversight mechanisms.
Discussions covered support for businesses, including digitalization, sustainability reporting for private companies, and enhancing public sector capabilities in procurement, grants management, and audit.
The government highlighted efforts to ensure agile crisis response, such as fast-tracking assistance, using data and technology for better outcomes, and strengthening long-term fiscal sustainability and investment performance oversight.

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26 Feb 2021

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

The Chairman outlined procedures for debating the FY2021-2022 Estimates, noting 569 amendments and time limits for discussions under Standing Order 92(7)(a).
He highlighted that total discussion time per Head includes replies from the front bench and emphasized strict adherence to time limits.
The debate began with Head U – Prime Minister’s Office, with Ms Tin Pei Ling as the first speaker.

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26 Feb 2021

Debate on Annual Budget Statement

Members debated climate change and COVID-19, emphasizing the need for global cooperation on carbon pricing, green investments, and vaccine incentives to recover and build a sustainable future.
Fiscal prudence and stewardship were central themes, with discussions on managing reserves, the GST hike, and balancing support for vulnerable groups against long-term economic and social investments.
Proposals included enhancing transport efficiency, supporting green economy jobs, and improving worker protections, while acknowledging the need for targeted aid and equitable policies across all income levels.

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25 Feb 2021

Impact of Excluding Single Unwed Parents from Receiving Parenthood Tax Rebates and Working Mother's Child Relief

Louis Ng asked whether excluding single unwed parents from tax rebates reduces single unwed parenthood and sought findings on the reduction rate.
Heng Swee Keat clarified that the Parenthood Tax Rebate and Working Mother’s Child Relief are not designed to reduce single unwed parenthood.
He stated no studies have been done to measure causal links between these tax policies and single unwed parenthood rates.
The tax reliefs specifically support parenthood within marriage and encourage married mothers to continue working after childbirth.
The government will continue reviewing tax policies in light of prevailing societal concerns and values.

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25 Feb 2021

Debate on Annual Budget Statement

Saktiandi Supaat praised the Budget's focus on future growth and raised concerns about cost of living, particularly the petrol duty hike, while suggesting ways to support manufacturing talent and digitalisation.
Alex Yam argued for mandatory vaccination to control the pandemic and criticized excessive spending without sustainable funding, using a cookie jar metaphor to caution against over-reliance on reserves.
Rachel Ong highlighted investments in low-income families and proposed long-term mentoring and savings initiatives to support children from disadvantaged backgrounds.
Xie Yao Quan discussed the rising healthcare costs and the need for a balanced social compact, emphasizing sustainable subsidies, economic growth, and equitable support for vulnerable groups.

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25 Feb 2021

Debate on Annual Budget Statement

The debate focused on the need to balance immediate fiscal support for Singapore's recovery with long-term investments in infrastructure, human capital, and social support systems, with speakers expressing concerns about the sustainability of dipping into reserves and the need for a clear roadmap to replenish them.
Key proposals included implementing a living wage for low-wage workers, introducing a levy on Employment Pass holders to level the playing field for locals, and having the government cover MediShield and CareShield premiums to strengthen social security.
Discussions emphasized strengthening the social compact by addressing gaps for vulnerable groups, such as outsourced workers, seniors, women, persons with disabilities, and caregivers, with specific suggestions to improve working conditions, support caregiving, and enhance mental wellness initiatives.
The debate also highlighted the importance of future-proofing the economy through industry transformation, green initiatives, and digital empowerment, with calls for more rigorous audits of government schemes and greater collaboration between public, private, and community sectors.

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24 Feb 2021

Consideration to Implement Alternative Policies for HDB Flat Owners Seeking to Sell Their Flats before Minimum Occupation Period

Gan Thiam Poh suggested that HDB consider alternative policies, such as a tiered gains tax, for flat owners wishing to sell before the Minimum Occupation Period (MOP).
Desmond Lee emphasized that the MOP is essential to ensure owner-occupation and deter speculation, but HDB already allows case-by-case waivers for extenuating circumstances like financial hardship or divorce.
He noted that imposing an additional gains tax could burden households already facing difficulties and might not effectively deter speculation, especially among wealthier buyers.
The Minister concluded that allowing pre-MOP sales even with a tiered tax would undermine the MOP’s intent and could inadvertently favor those able to afford the tax.
The debate centers on balancing flexibility for genuine needs while preserving the affordability and purpose of HDB flats.

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24 Feb 2021

Tweaking Road Tax Regime to Encourage Installation of More Safety Features when Purchasing Higher Engine Capacity Cars

Assoc Prof Jamus Jerome Lim questioned if higher road taxes on larger engines deter buyers from choosing cars with more safety features and suggested exemptions for private hire cars to encourage safety upgrades.
Transport Minister Ong Ye Kung explained that road tax is progressive based on engine capacity to target luxury vehicles, with no proven link between engine size and safety features.
The Ministry has no plans to exempt private hire cars with added safety features, as all vehicles must meet existing safety standards before registration.

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24 Feb 2021

Reducing Cost of Certificates of Entitlement for Vehicles used by Care-givers in Driving People with Disabilities or Autism

Christopher de Souza asked if the COE cost can be reduced for vehicles used by caregivers driving people with disabilities or autism.
Ong Ye Kung explained that a market-based COE system cannot easily provide concessions for specific user groups without verification and abuse risks.
The Government offers targeted support like the Home Caregiving Grant and foreign domestic worker levy concessions instead.
Schemes such as the Disabled Persons Scheme and Taxi Subsidy Scheme are available to improve mobility for persons with disabilities.
The response emphasizes alternative assistance over direct COE concessions to maintain system integrity.

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