Economy & business

• Mr Pritam Singh asked the Minister for National Development about the amount of Community Improvement Projects Committee funding provided to each Town Council through Citizens' Consultative Committees in the 2015/2016 financial year.
• He also inquired whether there is a standardised way for Town Councils to present CIPC funding under Town Improvement and Project Funds in their gazetted annual estimates.
• The Minister explained that CIPC funding supports HDB estate projects like covered walkways and playgrounds, with funds disbursed through CCCs based on HDB residential units, and CCCs can prioritize projects locally.
• The Minister noted that Town Councils may work with CCCs on projects but there is no prescribed standard for presenting CIPC funding in Town Council annual estimates.

• Thomas Chua asked whether public officers handling free trade agreements could specialise in specific industries to provide direct, practical assistance to companies.
• The Ministry of Trade and Industry works with agencies like the Economic Development Board and International Enterprise Singapore to raise awareness and help companies use FTAs.
• IE Singapore conducts industry-specific workshops and one-on-one consultations, benefiting thousands of companies, including small and medium enterprises.
• Feedback from companies is integral to ensuring FTAs remain relevant, and MTI engages businesses throughout the negotiation and review process.
• The government plans to continue industry-focused outreach, including workshops for the services sector in the coming year.

• Mr. Thomas Chua Kee Seng asked about the key challenges companies face in applying for assistance under the Lean Enterprise Development Scheme (LEDS) and how to address them.
• Minister Lim Swee Say identified three main challenges: lack of solutions, lack of scale, and lack of impact.
• For lack of solutions, the government will promote 71 prequalified ready-to-go solutions with upfront subsidies and spread awareness through SME Centres and industry associations.
• For lack of scale, LED agencies will group firms with similar issues to find common solutions and transform as a cluster.
• For lack of impact, agencies will guide firms to improve their plans for stronger outcomes, with funding and manpower support if needed.

• The Energy Conservation (Amendment) Bill introduces stricter industrial energy efficiency measures, including mandatory energy management systems and equipment standards, to help Singapore meet its Paris Agreement commitment of reducing emissions intensity by 36% by 2030.
• It enhances greenhouse gas reporting requirements for large industrial emitters and replaces the Carbon Emissions-based Vehicle Scheme with a broader Vehicular Emissions Scheme that considers additional pollutants.
• The government will consolidate energy efficiency grants into a single fund and provide financial support, such as loans and tax incentives, to help companies, especially SMEs, adopt new energy-saving measures despite short-term compliance costs.

• Assoc Prof Randolph Tan inquired about schemes for temporary job placement or training for hawkers and their assistants during hawker centre closures for repairs and renovation.
• The Minister responded that stallholders receive rental remissions during closures and can access training grants through SkillsFuture Singapore or seek job assistance via Workforce Singapore's career centres and Jobs Bank.
• A one-stop Information and Service Centre for hawkers will be established later this year to provide details on training courses and support services.

• Members of Parliament raised concerns about potential profiteering following water price increases, suggesting the setup of an anti-profiteering committee, a mobile feedback app, and guidance for businesses facing higher costs.
• The Minister of State responded that the impact of the water price hike is moderate and targeted, so no new committee is needed, noting that CASE will monitor prices and handle consumer feedback through existing channels like its hotline, website, and app.
• MPs questioned whether CASE has the resources and authority to investigate profiteering, especially for coordinated price rises in coffee shops, but the Minister emphasized consumer choice and that businesses set prices based on various costs, not just water.
• The government reiterated that its focus is on supporting business transformation and productivity to manage costs, and it will monitor the impact of the water price change after July rather than preemptively setting up a task force.

• The Senior Minister of State provided a progress update on the LEAD+ programme, noting that eight projects have been approved with total funding of up to $8.1 million as of March 2017, involving eight trade associations and chambers (TACs), with more expected to join.
• Under LEAD+, support is available for seconding public officers to TACs to strengthen their management and processes, and since the programme's 2016 launch, two additional officers have been seconded, bringing the total to 15 officers seconded to TACs since 2013.
• The $30 million set aside in Budget 2016 to support TACs' capability development is being utilized through the LEAD+ programme, which includes funding for projects and secondments to help TACs enhance their leadership, processes, and member services.

• Dr Chia Shi-Lu raised concerns about SingPost’s service quality, frequent senior management changes, and whether the postal service should be deprivatised.
• Minister Yaacob Ibrahim responded that SingPost meets strict quality standards, has reduced delivery issues, and defended the liberalised postal market, stating deprivatisation is unnecessary and would not guarantee better service.
• Dr Lee Bee Wah cited resident complaints about misdelivered or missing letters, and the Minister assured that all feedback would be investigated seriously to ensure compliance with standards.

• Ms Sun Xueling inquired about a comprehensive review of SkillsFuture outcomes before the next credit tranche and asked for review parameters and timeline.
• The Parliamentary Secretary responded that SkillsFuture is a long-term initiative to develop skills and employability, with ongoing monitoring of credit utilisation, fiscal position, training trends, and participation rates.
• Ms Sun Xueling sought clarity on the timeline for the next credit tranche and mentioned the large annual budget for productivity and SkillsFuture transfers.
• The Parliamentary Secretary highlighted that 5% of Singaporeans used their credits in the first year and announced the SkillsFuture Engage outreach to help navigate training options.
• Mr Patrick Tay suggested top-ups every three to five years and noted the scheme's benefits, with the Parliamentary Secretary affirming consideration of suggestions and highlighting other support schemes like enhanced training subsidies for SMEs and Workfare Training Support.

• The Parliamentary Secretary explained that SkillsFuture courses are evaluated for reasonable fees using industry benchmarks and must be skills-based and relevant to industry or professional development, though the program also takes an inclusive approach to support lifelong learning and holistic development.
• Ms Sun Xueling questioned whether top popular courses, which appear hobby-focused, sufficiently deliver economic value-add given public funding, and asked if more can be done to prioritize courses aligned with economic goals like the Committee on the Future Economy’s recommendations.
• The Parliamentary Secretary responded that while some courses may seem hobby-oriented, the approval process emphasizes industry relevance and validation, and noted that many courses are already highly subsidized, with the $500 SkillsFuture Credit available on top of existing government subsidies.

• The Trustees (Amendment) Bill introduces a new framework to enhance transparency and record-keeping for trusts in Singapore, aligning with international standards to combat money laundering, terrorism financing, and tax evasion.
• The Bill empowers the Minister to impose duties on trustees to obtain and maintain up-to-date information on trust parties, agents, and assets, with non-compliance punishable by fines up to $1,000.
• Amendments respond to recommendations from the Financial Action Task Force and Global Forum, ensuring Singapore remains a trusted financial centre while balancing enforcement with proportionate sanctions.
• Parliament debated clarifications on implementation, such as compliance timelines and the role of agents, and discussed broader measures to strengthen anti-money laundering efforts across other sectors.

• The Limited Liability Partnerships (Amendment) Bill introduces transparency measures, including requiring LLPs to maintain registers of controllers and extending record retention periods for liquidators and dissolved LLPs to at least five years.
• The bill removes the mandatory use of a common seal for LLPs, allowing execution of documents through signatures by two partners or a partner with a witness, while permitting LLPs to retain seals voluntarily.
• Parliament noted supportive feedback on reducing business costs and streamlining regulations, with assurance from the Ministry of Finance that regular reviews are conducted to keep compliance costs reasonable and exploring cost-effective record-keeping methods.

The Bill amends the Companies Act to enhance transparency, reduce regulatory burdens, and strengthen Singapore's debt restructuring framework. It introduces new requirements for companies to maintain registers of controllers and nominee directors to meet international anti-money laundering standards. The amendments also streamline processes such as annual meetings and document execution, and adopt provisions from US Chapter 11 and the UNCITRAL Model Law to improve corporate rescue and cross-border insolvency mechanisms.

• The Stamp Duties (Amendment) Bill introduces Additional Conveyance Duties (ACD) to close the stamp duty rate differential between direct property purchases and acquisitions of equity interests in property-holding entities (PHEs).
• ACD applies to significant owners acquiring or disposing of equity in PHEs, with buyer rates mirroring Buyer's and Additional Buyer's Stamp Duty and a 12% seller rate for sales within three years.
• The measure includes anti-avoidance provisions and aims to ensure a stable property market, with the government monitoring for further adjustments if needed.

• The Second Minister for Finance introduced the Stamp Duties (Amendment) Bill with a Certificate of Urgency signed by the President, emphasizing its immediate relevance.
• The Minister received the President's recommendation and proceeded with the first reading of the Bill to amend the Stamp Duties Act.
• Copies of the Bill and a supporting handout were distributed to Members, and the Second Reading was scheduled to proceed immediately.

• The Leader of the House summarized the eight-day Budget and Committee of Supply debates, noting increased member engagement with 545 cuts filed and highlighting cross-party unity on economic, social, and foreign policy issues, while commending members for their dedication and the Speaker for her stewardship.
• The debate focused on preparing Singapore for an uncertain global future through initiatives from the Committee on the Future Economy, with members scrutinizing policies to help workers, SMEs, and youth adapt, innovate, and grow, while emphasizing the need for a “heart” and collective partnership beyond government action.
• Members from both sides of the House raised concerns for workers, vulnerable groups, and municipal issues, with spirited and inclusive debates that reflected constituents' views and showcased the Parliament’s pragmatic yet compassionate approach to national challenges.
• The Speaker acknowledged the constructive contributions of all members, the front bench, and the Parliament Secretariat, noting the convergence on key national interests and the effective, humane execution of policies to support Singaporeans in a turbulent time.

• The Supplementary Supply (FY2016) Bill was introduced to authorize additional government expenditure beyond the original Supply Act 2016, covering the period from 1 April 2016 to 31 March 2017.
• Senior Minister of State Indranee Rajah moved the Bill's Second and Third Readings, as required under Articles 148(2) and 148C(2) of the Constitution, and the motions were agreed to by the Parliament.
• The Bill was passed after both readings, ensuring the supplementary funds were legally allocated for the specified financial year.

• The Supply Bill grants legislative approval for government expenditures from the Consolidated Fund and Development Fund for the financial year 1 April 2017 to 31 March 2018, as required by the Constitution.
• The Senior Minister of State for Finance, Ms Indranee Rajah, moved for the Bill to be read a second and third time, detailing that the Heads of Expenditure and sums were previously approved in the Main and Development Estimates.
• The Bill empowers the Minister to issue warrants authorizing expenditure up to the amounts specified in the Schedule for each Head, which were included in Paper Cmd No 8 of 2017.
• The motions for the second and third readings of the Bill were put to the House and agreed to, leading to the Bill's passage.
• The debate focused on the procedural and constitutional requirements for appropriating funds, with no substantive opposition or amendment proposals noted in the speeches.

• The Leader of the House requested consent to suspend Standing Order No. 70(1) to allow the immediate Second Reading of the Supply Bill and Supplementary Supply Bill for FY2016.
• She explained that the Committee of Supply had concluded its review without amendments, making it logical to proceed to the Second Reading to complete the Supply business.
• The Speaker sought and received general assent from Members present.
• The motion to suspend the standing order was put to a question and agreed to.
• The House resolved to proceed with the Second Reading of the bills as requested.

• The Committee of Supply approved an allocation of $33.24 billion for development expenditures for the 2017–2018 financial year.
• A separate resolution was reported for $87.56 billion to be supplied under the Main Estimates for the same financial year.
• Parliament agreed to the Committee of Supply's resolutions for both the Main and Development Estimates.