Economy & business — Topics

6 Mar 2015

Supplementary Estimates of Expenditure for the Financial Year 1 April 2014 to 31 March 2015

The Singapore Parliament debated and approved supplementary expenditure of $761.89 million for the main estimates and $168.61 million for the development estimates for the financial year 2014-2015.
The resolutions were passed by the Committee of Supply and reported back to the House, with no amendments proposed during the consideration of the heads of expenditure.
Deputy Prime Minister Tharman Shanmugaratnam, as Minister for Finance, moved for Parliament to agree with the Committee's resolutions, which were subsequently agreed to.

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5 Mar 2015

Town Council Managing Agents and Rates Charged Per Residential and Commercial Unit

Sylvia Lim asked the Minister for National Development to provide details on managing agents and their rates per residential and commercial unit for Town Councils from 2011 to 2013, as well as the contracted rates for the former Aljunied Town Council from 2010 to 2012.
The Ministry of National Development noted that Town Councils are required to appoint managing agents via open tender, but pre-2014 contracts were not submitted until a 2015 request; the submitted data showed most contracts charge a single rate, except for FMSS’s 2011 contract with AHPETC, which had three separate cost components.
The Ministry could not compute an effective rate for AHPETC from its submission alone, but based on the Auditor-General’s report, FMSS’s 2011 contract had an effective rate of $7.87 per unit without distinguishing residential and commercial, and its fees were 20% higher than CPG’s 2010 rates, leading to an estimated $1.6 million annual overpayment by 2014.

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5 Mar 2015

Committee of Supply Reporting Progress

The Deputy Prime Minister requested to report progress on the Committee of Supply and seek leave to sit again the next day.
The Chairman consented, and the House resolved to report progress and adjourn the session.
The Deputy Prime Minister formally reported that the Committee had made progress on the Estimates of Expenditure for the 2015/2016 financial year.
The Speaker acknowledged the report and confirmed the adjournment until the following day.

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5 Mar 2015

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

The Chairman outlined the procedure for considering the Estimates of Expenditure for FY2015–2016, noting 466 amendments and strict time limits for discussions.
The debate began with Head N (Ministry of Foreign Affairs), with Mr Sitoh Yih Pin as the first speaker under the Committee of Supply.
The session emphasized adherence to guillotine timings due to extended sitting hours and reduced Question Time.

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5 Mar 2015

Commencement Time of Committee of Supply

Mdm Speaker announced the immediate commencement of the Committee of Supply to debate the Estimates following the completion of the Budget Statement debate.
The "guillotine" time for Head N – Ministry of Foreign Affairs was revised to 5.25 pm today.
Members will be notified of the revised conclusion times for subsequent Heads of Expenditure.
The revised "guillotine" times will be documented in the Official Report and the Notice Paper.

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5 Mar 2015

Debate on Annual Budget Statement

Speakers supported the Budget’s long-term focus on skills development and economic restructuring, with SkillsFuture and the Silver Support Scheme highlighted as key initiatives for future prosperity and social equity.
Debates emphasized challenges in implementing these policies, including ensuring quality training courses, supporting SMEs, and maintaining fairness without fostering dependency or unsustainable welfare.
The Deputy Prime Minister defended the fiscal sustainability of the Budget, stressing the importance of balancing current needs with future generations through prudent reserves management and avoiding long-term deficits.

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5 Mar 2015

Proceedings on Estimates of Expenditure for FY2015/2016

The debate focused on the procedural motion to govern the timeline for reviewing the Estimates of Expenditure for the 2015/2016 financial year.
Dr Ng Eng Hen proposed that proceedings on the Estimates be conducted until 8.00 pm on the designated days for the Committee of Supply.
The motion aimed to regulate the parliamentary schedule for scrutinizing government spending allocations within the allotted timeframe.

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4 Mar 2015

Debate on Annual Budget Statement

The debate centered on Budget 2015's focus on social security and future readiness, with many speakers praising initiatives like SkillsFuture for lifelong learning, the Silver Support Scheme for low-income elderly, and enhanced CPF benefits, while also questioning their long-term sustainability and implementation.
Concerns were raised about the impact on SMEs, rising business costs, and the need for better support for the middle class, including proposals to extend benefits like SkillsFuture credits to stay-at-home mothers and to review housing and examination fee policies for greater inclusivity.
Speakers emphasized the importance of mindset shifts towards innovation, skills-based meritocracy, and collective responsibility, with some urging caution against excessive welfare dependency and others calling for more aggressive redistribution to address income inequality and ensure a fairer society.

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3 Mar 2015

Measures to Alleviate Impact of Increase in Bus Fares

The Public Transport Council and the government have implemented several measures since 2011 to make bus fares more affordable, including extending senior citizen concessions and enhancing schemes for students, seniors, National Servicemen, children under seven, lower-wage workers, and persons with disabilities.
A new Adult Monthly Travel Pass was introduced to help frequent commuters cap their expenses, and fares remain unchanged for over 1.1 million vulnerable commuters this year.
Additional financial support is provided through public transport vouchers, with 200,000 vouchers worth $20 issued in 2011 and 250,000 worth $30 in 2014 and this year.

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3 Mar 2015

Provision of Caregiver Allowance

Christopher de Souza proposed a caregiver allowance framework for those caring for elderly relatives, children with special needs, or disabled family members, highlighting the need for financial support.
Health Minister Gan Kim Yong outlined existing support measures, including reduced foreign domestic worker levies, tax reliefs, financial schemes like the FDW Grant and ElderShield, and services such as caregiver training and respite care.
Gan Kim Yong expressed reservations about introducing a direct caregiver allowance, fearing it could monetise family values, but committed to continuing research on enhanced caregiver support.

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3 Mar 2015

Debate on Annual Budget Statement

The debate centered on Budget 2015's shift towards greater social spending, with MPs welcoming initiatives like the Silver Support Scheme for low-income seniors and the SkillsFuture programme for lifelong learning, while questioning long-term fiscal sustainability and urging tighter oversight of permanent expenditure.
Economic restructuring and productivity were key concerns, with calls for more support for SMEs, job redesign for an ageing workforce, and leveraging technology and innovation, while cautioning against over-reliance on employment credits and foreign labour.
Revenue measures, including higher top personal income tax rates and including Temasek in the Net Investment Returns framework, were debated for their effectiveness and potential to fund social programmes, with concerns raised about their impact on work ethic and future fiscal flexibility.

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3 Mar 2015

Supplementary Supply (FY 2014) Bill

The Supplementary Supply (FY 2014) Bill was introduced to provide additional funding for the financial year from 1 April 2014 to 31 March 2015.
The bill was presented by Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam and received the recommendation of the President.
The bill underwent its first reading and was scheduled for a second reading after the conclusion of the Estimates of Expenditure for FY 2015/16.
The debate focused on procedural formalities and the necessity of supplementary funds for the specified financial year.

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3 Mar 2015

Supply Bill

The Supply Bill authorizes the release of funds from the Consolidated and Development Funds to cover government spending for the 2015/2016 financial year, starting 1 April 2015.
Deputy Prime Minister Tharman Shanmugaratnam presented the bill, noting it was approved by the President and read for the first time.
The bill is scheduled for a second reading after the conclusion of the debates on the Estimates of Expenditure for the same financial year.

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23 Feb 2015

Annual Budget Statement

The Singapore government projects a near-balanced budget for FY2014 and aims for 2-4% GDP growth in 2015, with low inflation and a tight labor market, while outlining a long-term economic restructuring toward innovation and productivity.
A major focus is the "SkillsFuture" initiative to provide lifelong learning support, including a SkillsFuture Credit for all Singaporeans, enhanced subsidies for mid-career training, and grants to foster innovation and internationalization for businesses.
The budget introduces the Silver Support Scheme for low-income retirees, enhances CPF savings through a higher salary ceiling and contribution rates for older workers, and provides various cost-of-living support such as GST vouchers and education fee waivers.
To fund increased spending on healthcare, infrastructure (including Changi Airport Terminal 5), and social security, the government will include Temasek in the Net Investment Returns framework and raise the top marginal personal income tax rate from 20% to 22%.

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23 Feb 2015

Increase in Public Transport Operators' Operating Costs

The Parliamentary Secretary confirmed that both public transport operators experienced higher operating costs in 2014, with SBS Transit's costs rising by 11.8% ($98.6 million) and SMRT's increasing by 3.3% ($27.6 million) over the previous year.
He stated that the Ministry could not project specific cost increases for the next two years as the operators are publicly listed companies, but noted that while energy costs are currently lower, other expenses like staff salaries are expected to continue rising.
The Ministry also anticipates that operating and maintenance costs will increase from 2016 when the Land Transport Authority tightens operating standards.

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23 Feb 2015

Budget Overrun and Gateway Process for Huge Public Projects

Over the past decade, 12 public sector projects with budgets exceeding S$100 million experienced cost overruns of over 50%, totaling S$13 billion, largely due to global construction price surges and unforeseen project modifications.
The Gateway Process, mandatory for projects over S$500 million, subjects high-value projects to rigorous technical and financial reviews to optimize design and cost-effectiveness, though its threshold is considered appropriate by the government, with flexibility to apply it to smaller high-risk projects.
Public release of Value-for-Money Review Office reports is restricted due to sensitive tender and cost information, but findings are shared internally across government agencies to promote learning and best practices in project management.

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23 Feb 2015

Subsidies for Public Transport

The Singapore government has deployed about $14 billion in public transport subsidies over the past five years and committed $26 billion for the next five, averaging nearly $4 billion annually over ten years.
Subsidies cover infrastructure, rail and bus network costs, service enhancements to avoid fare hikes, and direct fare support for lower-income workers and persons with disabilities, though direct per-person averages are not calculated due to system differences.
The government emphasizes fare affordability for commuters but avoids comparing subsidy levels with other cities, noting differences in ridership, income, and operating costs.
Financial sustainability is prioritized through regular fare reviews to ensure the public transport system remains viable without excessive burden on taxpayers.

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13 Feb 2015

Auditor-General's Report on the Audit of Aljunied-Hougang-Punggol East Town Council (AHPETC)

The Minister for Education accused the Workers’ Party-run AHPETC of betraying public trust by failing to act in residents’ interests, lacking transparency, and mismanaging funds, including underpaying its Sinking Fund by $12 million and overpaying its Managing Agent by an estimated $1.6 million annually for four years.
WP leaders countered that the Managing Agent was selected through an open tender after due diligence, explaining higher costs were due to operational factors, and that Sinking Fund transfers were delayed due to accounting complexities but have since been addressed, though they admitted to late account submissions.
The debate centered on accountability, with PAP ministers emphasizing that WP must take responsibility, conduct a forensic audit, and recover overpayments, while WP accused the government of politicizing the issue and defending its own actions.
The Motion, noting serious governance lapses in AHPETC, was passed with 85 votes in favor, calling for higher standards across all Town Councils and stronger legislative accountability.

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13 Feb 2015

Auditor-General's Report on the Audit of Aljunied-Hougang-Punggol East Town Council (AHPETC)

The debate centered on the Auditor-General's findings of serious deficiencies in AHPETC's financial management, including weak accounting systems, unreliable accounts, lack of oversight on related-party transactions, and risks to public funds.
Ministers and PAP MPs criticized AHPETC for systemic governance failures, citing examples like overpayments to its managing agent and improper use of sinking funds, while WP MPs acknowledged lapses but attributed some to transition challenges and defended their actions.
The motion called for higher standards across all town councils and strengthened legislation to ensure accountability, with WP supporting it while disputing some allegations and committing to improve processes.

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13 Feb 2015

Special Goodwill Transport Vouchers in View of Lower Oil Prices

Mr Gan Thiam Poh suggested extending special transport vouchers or fare rebates to all Singaporeans, particularly the Pioneer Generation, to commemorate SG50 and due to low oil prices.
The Minister for Transport replied that the Public Transport Fund would issue 250,000 vouchers worth $30 to needy families, using $7.5 million of the $13.5 million contributed by transport operators.
Mr Gan further proposed making all Singaporeans shareholders of public transport companies to share in profits and savings, similar to past Singtel special shares, for SG50.
The Minister noted that the shareholder proposal falls outside the Transport Ministry’s scope but would be raised with the Minister for Finance for consideration.
The debate highlighted both targeted support for needy families and broader ideas for national celebration through shared benefits from public transport assets.

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