Economy & business — Topics

6 Apr 2016

Committee of Supply Reporting Progress

Dr. Vivian Balakrishnan sought and received consent to report progress and request to sit again tomorrow.
The Chairman resolved that progress be reported and leave be asked to sit again, with the Deputy Speaker taking the Chair.
Dr. Balakrishnan reported the Committee of Supply made further progress on the 2016/2017 Estimates and asked leave to sit again tomorrow.
The Deputy Speaker approved the request and called upon the Leader of the House.

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6 Apr 2016

Committee of Supply – Head R (Ministry of Law)

Members highlighted the need to support the growth of Singapore's legal sector, particularly small and medium-sized law firms, amid economic uncertainties, and asked for targeted measures to help them transform and access opportunities under the Industry Transformation Programme.
Discussions focused on enhancing Singapore's reputation as a global legal hub through initiatives like the Singapore International Commercial Court, the Choice of Court Agreements Bill, and promoting Singapore law for cross-border disputes, while addressing challenges such as the oversupply of law graduates and the focus of UniSIM Law School on community law.
The Ministry outlined efforts to improve access to justice, including support for legal aid, community dispute resolution mechanisms, and reviews of civil and criminal justice systems, while noting ongoing support for workers affected by land acquisition and the promotion of intellectual property protections.

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6 Apr 2016

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

The Chairman outlined the process for reviewing the FY2016–2017 expenditure estimates, noting 499 amendments and strict time limits for speeches.
The debate began with the Ministry of Home Affairs, starting with an address by Mr Christopher de Souza.
The session operated under Committee of Supply rules with a guillotine mechanism to manage discussion times.

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6 Apr 2016

Commencement Time of Committee of Supply

Mdm Speaker announced the immediate commencement of the Committee of Supply after the Budget Statement debate.
The start time was revised from the original schedule, triggering a new "guillotine" time for Head P – Ministry of Home Affairs.
Hon Members will be notified of revised conclusion times for the subsequent Heads of Expenditure due to the change.

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6 Apr 2016

Debate on Annual Budget Statement

The debate centered on Budget 2016, emphasizing economic transformation through enterprise, innovation, and targeted support for SMEs, while also highlighting social elements like caring for seniors and vulnerable groups.
Members raised concerns about job security, especially for mature PMEs, urging enhanced programs like Career Support and Adapt and Grow, with the Minister committing to studies on redundancy insurance and improved job-matching.
Discussions addressed healthcare and senior support, including Silver Scheme criteria, middle-income retiree challenges, and calls for better primary care and technology use, with the Minister defending targeted approaches and fiscal sustainability.

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6 Apr 2016

Mortgage Assistance Plan for Retrenched Flat Owners

HDB provides financial counselling and explores options like subletting spare bedrooms for retrenched flat owners, with referrals to job placement and financial aid agencies.
Flat owners facing short-term mortgage difficulties may receive temporary reductions or deferments, while long-term solutions include right-sizing to a more affordable flat or including working adult children as joint owners.
For those unable to afford another flat with no family support, HDB may offer public rental flats, though it cannot directly assist with bank loans but helps restructure HDB mortgages and directs owners to social support agencies.

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5 Apr 2016

Cases of Fraud in Productivity and Innovation Credit Scheme

IRAS investigated 488 cases of fraud under the PIC scheme since its inception as of 31 December 2015.
Eight cases have been prosecuted with convictions, involving $213,000 in cash payouts, and three cases are pending trial.
None of the 11 court cases involve consultants as subjects of proceedings.

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5 Apr 2016

Debate on Annual Budget Statement

Members supported the Budget's focus on economic transformation and caring society, praising initiatives like SkillsFuture, Industry Transformation Programme, and Silver Support Scheme, while urging more targeted help for vulnerable SMEs, PMETs, and low-wage workers.
Debates highlighted concerns over job security amid automation and economic slowdown, with calls for enhanced flexible work arrangements, redundancy insurance, and better support for middle-income and sandwich-class families.
Suggestions included refining the triple "A" approach (Ability, Attitude, Altitude) for SMEs, expanding community partnerships, and ensuring policies like Silver Support are reviewed to avoid excluding deserving seniors based on housing type.

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5 Apr 2016

Students Attending International Schools

Gan Thiam Poh asked for the current number of students in international schools, how many are foreigners, and if the government plans to promote and expand the industry as an economic growth engine.
The Parliamentary Secretary responded that international schools support Singapore's appeal to international businesses, with about 46,500 students in January 2016, of whom 79% were foreigners, and noted the private education sector is shaped by market forces and quality standards.
Ang Hin Kee raised a follow-up on developing a Singaporean core among staff in private education institutions, and Low Yen Ling directed him to submit a separate question to the Ministry of Education for a comprehensive response.

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5 Apr 2016

Time Allocation for Committee of Supply

The Speaker announced the fixed times for concluding the Committee of Supply debates for FY 2016/2017, taking into account reduced Question Time and extended sittings.
Sittings from 7 to 14 April will start at 11:30 am, with the schedule subject to House approval and "guillotine" times communicated to Members.
The measures aim to streamline the debate process while ensuring proper consideration of expenditure heads in the Estimates.

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4 Apr 2016

Tax Rebate Eligibility for Electric Cars

The criteria for electric car tax rebates under the Carbon Emissions-based Vehicle Scheme (CEVS) assess the equivalent CO2 emissions from electricity generation, not just tailpipe emissions, and rebates or surcharges are applied based on whether the car produces low or high equivalent CO2 emissions.
For new electric cars, CO2 emissions are determined from manufacturer test reports, while used imported electric cars must be tested at accredited centres to establish their emissions.
The tax rebate or surcharge is applied immediately at the point of vehicle registration, with no separate processing time for applications.

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4 Apr 2016

Debate on Annual Budget Statement

Patrick Tay highlighted the severe impact of economic restructuring on PMEs, citing record retrenchments and the threat of technology, and called for enhanced support measures such as expanding the Career Support Programme and strengthening the Singaporean Core.
Chong Kee Hiong emphasized the need for prudent fiscal management amid global uncertainties, supported increased R&D investment to drive innovation, and advocated for cultural shifts to encourage risk-taking and entrepreneurship.
Chan Chun Sing from the Labour Movement underscored that the economic slowdown is both cyclical and structural, urging tripartite collaboration to tackle structural unemployment, ensure retirement adequacy, and boost productivity through sector-specific efforts.
Lee Yi Shyan commended new economic initiatives like the Automation Support Package and National Robotics Programme, and called for better integration of R&D funding with industry transformation roadmaps to foster innovation and global competitiveness.
Ong Teng Koon stressed the importance of supporting SMEs and entrepreneurs, suggesting enhancements to business development, launch support, and failure mitigation measures to encourage risk-taking and innovation.

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4 Apr 2016

Debate on Annual Budget Statement

The debate focused on the Government's $4.5 billion Industry Transformation Programme to drive economic restructuring, with emphasis on innovation, automation, and supporting SMEs through grants, financing schemes, and a new one-stop Business Grants Portal.
Speakers stressed the urgency of adapting to global economic headwinds and structural changes, advocating for stronger tripartite partnerships, better job matching for displaced workers, and expanded use of SkillsFuture and Adapt and Grow initiatives.
While many supported the Budget’s prudence and long-term vision, concerns were raised about fiscal sustainability, the effectiveness of productivity schemes, and the need for targeted support for mature workers, local enterprises, and underemployment measurement.
Several members called for improved implementation, such as clearer accountability for public spending, streamlined inter-agency coordination, and ensuring that innovation policies benefit Singaporeans and local firms rather than becoming isolated enclaves.
The Budget was generally supported as forward-looking and balanced, but with recommendations to enhance support for vulnerable groups, improve SME competitiveness, and foster a more inclusive and resilient society amid economic transformation.

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4 Apr 2016

Final Supply (FY 2015) Bill

The bill proposes supplementary financial provision for the 2015 fiscal year (1 April 2015 to 31 March 2016) to meet additional government expenditure
It was presented by Finance Minister Heng Swee Keat with the recommendation of the President and received its First Reading
The bill's Second Reading is scheduled after the conclusion of the 2016/2017 Estimates of Expenditure proceedings and will be printed for legislative review

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4 Apr 2016

Supply Bill

The Supply Bill authorizes the issuance of funds from the Consolidated and Development Funds to cover government spending for the 2016-2017 financial year.
It was presented by Finance Minister Heng Swee Keat and recommended by the President, following standard parliamentary procedure.
The bill's second reading is scheduled after the conclusion of the Estimates of Expenditure debates, with the text to be formally printed.

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24 Mar 2016

Productivity Growth of Government over 10 Years

The Ministry of Finance emphasized that measuring public sector productivity is challenging due to intangible outcomes but noted that public sector manpower grew at a lower average rate (1.8% per annum) than population and GDP growth over the past decade.
Technology adoption, such as e-services and digital platforms, has improved efficiency, exemplified by IRAS redeploying officers due to tax-filing automation and ACRA reducing business registration time to under 15 minutes.
Organisational restructuring and data analytics initiatives, like the Municipal Services Office and National Library Board’s borrowing data analysis, have enhanced interagency coordination and tailored service delivery.

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24 Mar 2016

Property Pledges by CPF Members to Allow for Fund Withdrawal Beyond Basic Retirement Sum

Foo Mee Har asked for the number of CPF members who used property pledges to withdraw savings above the Basic Retirement Sum in 2016 and the amount used to top up their spouses' CPF accounts.
Lim Swee Say explained that CPF members aged 55 and above can withdraw savings above the Basic Retirement Sum by using a property charge or pledge, which does not affect ownership and ensures future restoration of the Retirement Account.
In January and February 2016, 1,200 CPF members withdrew savings above the Basic Retirement Sum via property charge or pledge, with 700 turning 55 during that period; the government does not track subsequent top-ups to spouses' accounts.
CPF members can directly transfer savings above the Basic Retirement Sum to a spouse's Special or Retirement Account without needing a property charge or pledge.

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24 Mar 2016

Separating Clients' Deposits and Payments to Prevent Unlawful Withdrawal of Funds

Gan Thiam Poh proposed that merchants be required to keep client deposits separate from operating accounts and make unlawful withdrawals a criminal offence to enhance consumer protection.
S Iswaran responded that the government promotes fair trading through informed consumer choices and existing schemes like CaseTrust, which protect deposits via insurance rather than mandatory separation.
The Minister noted that broad mandates would be burdensome, raise costs for businesses, and ultimately affect consumers, while highlighting over 700 accredited businesses in sectors like motoring and renovations.
CASE is expanding CaseTrust accreditation to sectors like hair and cosmetology and catering to further safeguard consumer interests.

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24 Mar 2016

Annual Budget Statement

The Finance Minister outlined a budget focused on economic transformation and social care, launching a $4.5 billion Industry Transformation Programme to support businesses and workers through enterprise innovation, sector-specific strategies, and partnerships, amid global economic headwinds.
The budget included immediate support for businesses, such as a higher Corporate Income Tax rebate, extended Special Employment Credit for older workers, and new SME working capital loans, while tapering broad-based measures like the Productivity and Innovation Credit (PIC) to target resources more effectively.
It enhanced social safety nets, notably introducing the Silver Support Scheme for low-income seniors, expanding Workfare Income Supplement for low-wage workers, and creating a new Child Development Account First Step grant, all aimed at building a caring and resilient society.

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24 Mar 2016

Lift Replacement by Town Councils

Town Councils must fund lift replacements using mandatory sinking funds derived from service and conservancy charges, with the Ministry reviewing ways to enhance long-term financial planning and considering ring-fencing funds for major expenditures like lifts.
The Building and Construction Authority and HDB are working to professionalize lift technicians, improve quality standards in procurement, and implement performance-based maintenance regimes to ensure lift reliability and address obsolete parts.
Town Councils retain responsibility for assessing lift replacement needs based on condition and performance, with options to increase sinking fund contributions or service charges if necessary, supported by ongoing government guidance and oversight.

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