Economy & business

5,376 debates and bills about economy & business

14 Apr 2016

Estimates of Expenditure for the Financial Year 1 April 2016 to 31 March 2017

The debate on the Estimates of Expenditure for the financial year 1 April 2016 to 31 March 2017 commenced in the Committee of Supply on its 7th Allotted Day.
Mdm Speaker was in the Chair to oversee the proceedings of the debate.
The discussion focused on the budgetary allocations and expenditure plans for the upcoming fiscal year.

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14 Apr 2016

Income Tax (Amendment No 2) Bill

The Income Tax (Amendment No. 2) Bill was introduced to amend the Income Tax Act, with the President’s recommendation signified.
The Bill was presented by Senior Minister of State for Finance Ms Indranee Rajah and read for the first time.
It was scheduled for a second reading at the next available Parliamentary Sitting and ordered to be printed.

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13 Apr 2016

Committee of Supply Reporting Progress

The Minister for Culture, Community and Youth, Ms Grace Fu Hai Yien, sought and received consent to report progress and adjourn the session to the next day.
The Committee of Supply was resolved to have made further progress on the Estimates of Expenditure for the 2016/2017 financial year.
The Deputy Speaker formally reported the progress and leave was granted for the Committee to sit again the following day.

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13 Apr 2016

Estimates of Expenditure for the Financial Year 1 April 2016 to 31 March 2017

The debate focused on the Estimates of Expenditure for the financial year from 1 April 2016 to 31 March 2017.
The proceedings began with the formal order for consideration in the Committee of Supply on the 6th Allotted Day.
Mdm Speaker chaired the session, overseeing the initial procedural steps of the debate.

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12 Apr 2016

Committee of Supply Reporting Progress

The Minister for Health, Mr Gan Kim Yong, requested consent to report progress and adjourn the session to the next day.
The Chairman granted consent, and the proceedings were formally recorded, with the Deputy Speaker resuming the Chair of the House.
Mr Gan Kim Yong reported that the Committee of Supply had made further progress on the 2016/2017 Estimates of Expenditure and sought leave to sit again tomorrow.
The Deputy Speaker approved the request and called upon Deputy Leader Desmond Lee to proceed.

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12 Apr 2016

Estimates of Expenditure for the Financial Year 1 April 2016 to 31 March 2017

The Committee of Supply convened on the fifth allotted day to consider the estimates of expenditure for the financial year from 1 April 2016 to 31 March 2017.
Mdm Speaker presided over the proceedings, indicating the formal commencement of the budget review process.
The debate focused on the proposed government spending plan for the upcoming fiscal year, though specific departmental allocations and policy details were not yet discussed in the initial procedural speeches.

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11 Apr 2016

Rental Rebates for Hawkers Affected by Closure of Hawker Centres for Improvement Works

Ang Hin Kee asked if the Ministry would provide rental rebates and tailored training for hawkers affected by hawker centre closures for improvement works.
Masagos Zulkifli confirmed that rental remissions are already given to affected stallholders during closure periods for maintenance or major works.
The Ministry will consider facilitating hawkers' attendance at relevant training during the closure period.

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11 Apr 2016

Committee of Supply Reporting Progress

The Minister for Transport sought consent to report progress and request leave to sit again the next day, which the Chairman granted and formally resolved.
Mr. Deputy Speaker assumed the Chair of the House following the resolution, and the Minister reported that the Committee of Supply had made further progress on the 2016/2017 Estimates.
The Deputy Speaker approved the request to adjourn and resume the session the following day.

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11 Apr 2016

Committee of Supply – Head W (Ministry of Transport)

Sitoh Yih Pin moved to reduce the Ministry of Transport's budget by $100, citing concerns over public transport safety, reliability, and accessibility for the elderly amid ambitious expansion plans.
Multiple members highlighted recent fatal SMRT accidents and recurring MRT disruptions, questioning safety protocols, maintenance practices, and the need for stricter oversight and penalties.
Discussions focused on future transport trends, including autonomous vehicles, electric buses, and smart mobility, with calls for updated regulations, public consultation, and support for transport workers.

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11 Apr 2016

Committee of Supply – Head M (Ministry of Finance)

Members called for procurement reforms to better support SMEs, suggesting outcome-based tenders and a revitalized "buy innovation" framework, while the government highlighted existing initiatives like the Accreditation@IDA and the revamped GeBIZ portal to facilitate SME participation.
Concerns were raised about the inclusivity and fairness of digitalisation, with the government detailing plans for upgraded Citizen Connect Centres and the National Trade Platform to ensure all citizens, especially seniors and SMEs, benefit from digital services.
The adequacy of means-testing for social schemes was debated, with suggestions to incorporate more granular factors like property ownership and long-term income, and the government acknowledged the need for ongoing review while defending the current proxy measures.
A proposal for refundable tax credits to support specialised caregivers was discussed, with the government emphasising its focus on subsidising services directly rather than providing cash allowances, while also highlighting existing support measures.
The government confirmed that interim constitutional provisions allow for continued operations during the debate period and that it remains committed to reviewing compliance burdens for businesses and enhancing retirement adequacy for vulnerable groups.

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11 Apr 2016

Estimates of Expenditure for the Financial Year 1 April 2016 to 31 March 2017

The Committee of Supply met on the 4th allotted day to review the expenditure estimates for the financial year from 1 April 2016 to 31 March 2017.
The session was presided over by the Speaker of Parliament, who formally read the order for consideration of the estimates.
The debate focused on the detailed examination of government spending plans and allocations for the upcoming fiscal year.
Members of Parliament were set to scrutinize and question the proposed expenditures during this committee stage.

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8 Apr 2016

Exemption from Additional Buyer's Stamp Duty for Second Property Bought on One-for-One Exchange

Miss Cheng Li Hui asked if buyers with multiple properties can be exempted from Additional Buyer's Stamp Duty (ABSD) when buying a replacement property through a one-for-one exchange.
The Minister for Finance stated that ABSD is designed to moderate demand and stabilize the property market, applying to foreigners, Permanent Residents, and Singapore Citizens buying second and subsequent properties.
Currently, a Singapore Citizen who owns two properties and sells one to buy another must pay ABSD on the new purchase, as no exemptions are provided for such exchanges.

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8 Apr 2016

Committee of Supply Reporting Progress

Lim Swee Say moved to report progress and request to resume the sitting on Monday, 11 April 2016.
The Chairman consented, and the motion was resolved to report progress and adjourn the session.
The Deputy Speaker took over the Chair as the Committee of Supply reported further progress on the 2016/2017 Estimates.
The sitting was adjourned to reconvene on Monday, 11 April 2016.

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8 Apr 2016

Committee of Supply − Head S (Ministry of Manpower)

Minister Lim Swee Say agreed that retrenched workers should be supported in exploring entrepreneurship, noting a proposal to extend the Professional Conversion Programme to include entrepreneurship training and business support.
He emphasized that the Ministry’s current priority remains helping workers return to employment quickly, while exploring entrepreneurship as a future alternative.
MP Patrick Tay thanked colleagues and officials for their contributions to the debate on manpower challenges and withdrew his amendment, with the allocated sums for Head S being approved.

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8 Apr 2016

Committee of Supply – Head S (Ministry of Manpower)

Multiple MPs raised concerns about protecting Singaporean professionals, managers, and executives (PMEs), strengthening the "Singaporean Core," and ensuring foreign employment passes (EPs) complement rather than compete with locals, citing issues like discriminatory hiring practices and ineffective job advertising rules.
The Minister outlined a three-pronged strategy: supporting industry transformation into manpower-lean and productive models; building a strong Singaporean Core through sector-specific manpower plans and enhanced job-matching schemes like the Career Support Programme; and maintaining global competitiveness by balancing pro-business and pro-worker policies, including stricter scrutiny of companies with weak local hiring commitments.
Other key topics included support for displaced and older workers, workplace safety improvements, flexible work arrangements, and the need for better job matching and training programs, with the Minister emphasizing tripartite collaboration and a balanced approach to economic and social goals.

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8 Apr 2016

Estimates of Expenditure for the Financial Year 1 April 2016 to 31 March 2017

The debate on the Estimates of Expenditure for FY2016-2017 began with the procedural order for consideration in the Committee of Supply.
Mdm Speaker chaired the session, overseeing the formal start of the budget debate.
The discussions focused on the proposed government expenditure for the financial year from 1 April 2016 to 31 March 2017.
The proceedings highlighted the importance of parliamentary scrutiny of public spending plans.
The debate reflected Singapore’s commitment to transparent and accountable fiscal governance.

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7 Apr 2016

Committee of Supply Reporting Progress

The Minister for Trade and Industry (Trade) moved to report progress and adjourn the sitting, which was consented to by the Chairman.
The Committee of Supply was resolved to report progress on the 2016/2017 Estimates and to sit again the next day.
The Deputy Speaker reported that the Committee had made further progress and requested leave to continue the following day.

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7 Apr 2016

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

Minister Lim Hng Kiang addressed concerns about the global economic outlook, noting that while Singapore expects modest growth of 1–3% in 2016, some sectors are in recession; the government is implementing measures like the SME Working Capital Loan and Automation Support Package to help companies.
Discussions on trade agreements emphasized the benefits of the ASEAN Economic Community (AEC) and Trans-Pacific Partnership (TPP) for market access and regional integration, with the government encouraging businesses to leverage these opportunities despite political uncertainties.
The Industry Transformation Programme (ITP) was highlighted as a key strategy to drive sector-specific innovation and productivity, with plans to appoint cluster champions, enhance support for Trade Associations and Chambers (TACs), and foster partnerships.
The importance of nurturing SMEs and startups was stressed, with the government rolling out initiatives like the Enterprise Development Fund (EDF 5), SkillsFuture, and LEAD+ to build capabilities, support mentorship, and improve access to financing and information.
The debate covered energy sustainability, with a focus on diversifying energy sources like solar power under the SolarNova program and managing risks from regional nuclear developments, while affirming Singapore’s commitment to long-term economic resilience and job creation.

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7 Apr 2016

Estimates for the Financial Year 1 April 2016 to 31 March 2017

The debate centered on the Committee of Supply for the financial year from 1 April 2016 to 31 March 2017, focusing on government expenditure and policy priorities.
Members discussed the allocation of funds across various ministries and agencies, emphasizing fiscal responsibility and national development goals.
Concerns were raised about specific budget items, with calls for greater transparency and efficiency in spending.
The session highlighted the importance of balancing economic growth with social welfare and infrastructure investments.

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7 Apr 2016

Supplementary Estimates of Expenditure for the Financial Year 1 April 2015 to 31 March 2016

The Chairman proposed to take the Heads of Expenditure en bloc for the supplementary estimates and the resolutions were agreed to.
The Committee of Supply approved a sum of $328,174,200 under the Supplementary Main Estimates for the financial year 1 April 2015 to 31 March 2016.
The Minister for Finance reported a second resolution to supply $213,021,800 under the Supplementary Development Estimates for the same financial year.
Parliament agreed with the Committee's resolutions, and both sums were approved for supply to the Government.

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