Economy & business — Topics

8 Mar 2013

Cost of Conducting the Recent Punggol East By-election

Asst Prof Tan Kheng Boon Eugene asked the Prime Minister about the cost of the Punggol East by-election in January 2013.
Teo Chee Hean, on behalf of the Prime Minister, stated that the expenditure was estimated to be $840,800.
The cost included printing ballot papers and election materials, rental of equipment, transportation costs, and allowances for election officials.

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8 Mar 2013

Committee of Supply Reporting Progress

The Minister for National Development Khaw Boon Wan requested to report progress and adjourn the session to March 11, 2013.
The Chairman granted consent and the motion was formally resolved.
Khaw Boon Wan reported that the Committee of Supply had made further progress on the 2013/2014 Estimates of Expenditure.

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8 Mar 2013

Estimates of Expenditure for the Financial Year 1 April 2013 to 31 March 2014

The debate centered on the examination of the Estimates of Expenditure for the financial year 2013-2014, with the session proceeding in the Committee of Supply.
Mdm Speaker in the Chair oversaw the proceedings and directed attention to specific page references during the discussion.
The discussion was part of the formal legislative process to approve government spending plans for the upcoming financial year.

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8 Mar 2013

Supplementary Estimates of Expenditure for the Financial Year 1 April 2012 to 31 March 2013

The Chairman proposed to take the Heads of Expenditure en bloc for the Supplementary Estimates for the financial year 1 April 2012 to 31 March 2013, with no amendments submitted.
The Committee of Supply agreed to the sums of $831,326,100 for the Supplementary Main Estimates and $833,819,800 for the Supplementary Development Estimates to be supplied to the Government.
The Deputy Prime Minister and Minister for Finance reported the Committee of Supply's resolutions and moved for Parliament to agree, which was subsequently passed.

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7 Mar 2013

Computation of the Gini Coefficient

Irene Ng asked for the data used to compute the Gini coefficient and key household income trends for citizens, as well as the Gini coefficient for the last five years excluding permanent residents.
The Minister stated that median monthly household income per member for citizen employed households rose 7.2% nominally and 2.4% in real terms from 2011 to 2012, with a cumulative real increase of 13.9% from 2007 to 2012.
In 2012, the Gini coefficient for citizen employed households was 0.4671 before adjustments and 0.445 after accounting for government transfers and taxes, indicating a redistributive effect and lower inequality compared to resident households.
The Minister provided the coefficients for the last five years in an exhibit, but the specific values for those years are not detailed in the given debate speech.

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7 Mar 2013

Committee of Supply Reporting of Progress

The Deputy Prime Minister sought and received consent to report progress and adjourn the debate to the next day.
The Chairman formalized the resolution, and the Deputy Speaker resumed the chair of the House.
The Deputy Prime Minister formally reported that the Committee of Supply had made progress on the 2013/2014 Estimates and requested leave to sit again.

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7 Mar 2013

Estimates of Expenditure for the Financial Year 1 April 2013 to 31 March 2014

The debate focused on the Main and Development Estimates of Expenditure for Singapore’s financial year from 1 April 2013 to 31 March 2014, with a total of 483 amendments submitted.
The Chairman outlined procedural guidelines, including guillotine times for discussions under Standing Order 92(7)(a), and emphasized strict time-keeping for each Head of Expenditure.
The session began with consideration of Head U – Prime Minister’s Office, as the first Head of Expenditure under the Order Paper Supplement.
Digital timers and prior experience were referenced to help Members adhere to allocated speech times during the Committee of Supply sitting.

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7 Mar 2013

Debate on Annual Budget Statement

Several members supported the budget's focus on helping older Singaporeans, lower-income families, and businesses through measures like the Wage Credit Scheme and productivity incentives, while also stressing the importance of social mobility and a caring government.
Debates highlighted the need for a more cohesive society, with proposals for a new ministry to foster consensus, unity, and better integration of new citizens, alongside calls for greater support for persons with disabilities and caregivers.
The Deputy Prime Minister emphasized restructuring the economy toward quality growth, with significant support for SMEs and a progressive fiscal system, while addressing income inequality, healthcare financing, and the need for sustainable policies without creating dependency.

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6 Mar 2013

Public Transport Operators' Annual Share of Advertising Licensing Fees from Bus Stop Billboards

Asst Prof Tan Kheng Boon Eugene asked about the annual share of advertising licensing fees from bus stop billboards for public transport operators from 2008 to 2012, guidelines for using these funds, and whether the share could be increased.
The Minister for Transport, Lui Tuck Yew, stated that starting FY2012, bus operators SBS Transit and SMRT Buses now retain a portion of these fees based on their operational scale and total fees collected.
For FY2012, SBS Transit is expected to receive about $13 million and SMRT Buses about $5 million, while prior to FY2012, operators received no revenue from these advertisements.

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6 Mar 2013

Debate on Annual Budget Statement

The Budget 2013 focuses on quality economic growth and building an inclusive society, with measures totalling $5.9 billion to help businesses re-invent and $1.7 billion in financial aid for lower-income Singaporeans.
Concerns were raised about the pace of economic restructuring, the impact on SMEs and middle-income earners, and the need for more direct support, such as co-sharing bonuses for low-wage workers and a Health Promotion Endowment Fund.
Members emphasized the importance of improving productivity, supporting active ageing, and ensuring affordable housing, with suggestions like regulating HDB flat sales and reclaiming land value upon resale.
There were calls for better communication of policies to rebuild trust, address income inequality, and ensure Singaporeans' needs remain central amidst globalization and an ageing population.
The debate highlighted the need to balance competitiveness with social inclusivity, invest in sports and arts for quality of life, and reconsider meritocracy to foster a more cohesive society.

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6 Mar 2013

Debate on Annual Budget Statement

The debate centered on the need to transition to a quality-growth, inclusive economy, with strong focus on supporting lower-income and older workers through enhanced schemes like Workfare and the new Wage Credit Scheme, while also addressing cost-of-living concerns and the need for a stronger social safety net.
Key concerns included work-life balance, flexible work arrangements, and the pressures on families and caregivers, with calls for legislative support for flexible work and better support for childcare and elderly care.
Debates also highlighted challenges in public transport, housing affordability, and the impact of immigration and foreign labor policies, with suggestions for more targeted support for SMEs and a rethinking of productivity initiatives to ensure benefits reach workers and smaller businesses.

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6 Mar 2013

Wages as a Share of Economic Growth and Companies' Profits

Asst Prof Tan Kheng Boon Eugene requested data on the share of total wages in Singapore's GDP and the ratio of wages to private sector profits for each decade from 1970 to 2009.
The Minister for Trade and Industry stated that data is only available from 1980 onwards, with the wage share of GDP averaging 41.8% in the 1980s, 41.9% in the 1990s, and 42.5% between 2000 and 2009.
The Minister noted that a breakdown of wages and profits for the private sector alone is not available due to data limitations, but the overall economy's wage-to-profit ratio remained stable at around 0.83 to 0.86 across these decades.

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5 Mar 2013

Debate on Annual Budget Statement

Gerald Giam highlighted that Singapore's income inequality widened in 2012 despite an "inclusive" budget, with the Gini coefficient rising to 0.459, and argued that high inequality threatens social cohesion, economic growth, and meritocracy.
He supported making the tax system more progressive and the Wage Credit Scheme but questioned its effectiveness in raising productivity, noting SMEs face challenges in hiring locals and proposed a "New Hire Wage Credit" scheme to subsidize wages for new hires in SMEs.
Giam criticized the slow progress in raising productivity, noting it fell to -2.5% in 2012, and urged the government to consider more drastic measures if productivity targets are not met soon.
The debate emphasized the need for policies to address income inequality, support SMEs, and improve productivity, with Giam suggesting specific schemes to aid local employment and workforce participation.
Overall, the budget was seen as focusing on economic restructuring but needing adjustments to better help lower-income groups and ensure sustainable growth.

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5 Mar 2013

Debate on Annual Budget Statement

The debate centred on balancing economic restructuring for quality growth, with tighter foreign worker policies and the Wage Credit Scheme to support businesses and raise Singaporean wages, while acknowledging the pain for SMEs and the need for a careful transition pace.
There was strong emphasis on building a more inclusive society through increased social spending, particularly on preschool education and healthcare financing, to support lower and middle-income groups, retirees, and sustain social mobility.
Members highlighted concerns over the rising cost of living, the need for work-life balance, and supporting vulnerable groups like low-wage workers and women in the workforce, with some calling for more progressive taxation and a re-examination of economic and social policies.

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5 Mar 2013

Supplementary Supply (FY 2012) Bill

The Supplementary Supply (FY 2012) Bill was introduced to authorize additional government expenditure for the financial year ending March 31, 2013.
The bill was presented by Mr Tharman Shanmugaratnam and received the President's recommendation after its first reading.
It was scheduled for a second reading after the conclusion of the Estimates of Expenditure for FY 2013/2014.
The bill's passage involved standard parliamentary procedures, including printing and further readings.

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5 Mar 2013

Supply Bill

The Supply Bill was introduced to authorize the withdrawal of funds from the Consolidated Fund and Development Fund for government expenditure in the financial year 2013–2014.
The bill was presented by Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam and received the recommendation of the President.
It was read for the first time and is scheduled for a second reading after the conclusion of the Estimates of Expenditure proceedings for the fiscal year.

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5 Mar 2013

Strengthening Singaporean Core in the Workforce

The Ministry of Manpower is using a multi-pronged approach focused on developing Singaporeans through training and employment facilitation while calibrating the work pass framework to ensure foreign workers complement, not substitute, Singaporeans.
During downturns, past measures like the Skills Programme for Upgrading and Resilience and Jobs Credit have protected local jobs, and similar tools can be deployed if needed, with a commitment to investigate and restrict work passes for firms that do not comply with fair employment practices.
The Minister agreed with the suggestion to strengthen the Tripartite Alliance for Fair Employment Practices (TAFEP) by enhancing its guidelines and investigation powers to improve compliance among employers.

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25 Feb 2013

Calling of Tender for Former Farrer Park Swimming Complex

An open tender for the former Farrer Park Swimming Complex was held from 7 September to 1 October 2012 and awarded on 8 January 2013 with a two-year tenancy and a two-year renewal option.
There was no delay in the tender process, as the operation was handled by the Singapore Sports Council (SSC).
The valuation of the prevailing market rent was used to set the reserve price but is not published publicly to prevent bidders from bidding near or just above the reserve price, ensuring the government receives the best value.

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25 Feb 2013

Update on the Productivity and Innovation Credit Scheme

Tharman Shanmugaratnam provided an update on the Productivity and Innovation Credit (PIC) scheme, stating that 42,000 companies (37% of active companies) claimed PIC for Year of Assessment 2012, up from 32% in the previous year.
Among active companies with turnover of $10 million or less, about 34,000 companies (35%) claimed PIC, compared to 30% in the prior year, though figures understate PIC's reach as it is available to all companies regardless of having employees.
For active companies with at least one employee that filed tax returns, about 34,000 companies (57%) claimed PIC, with a 52% take-up rate among those with turnover of $10 million or less.

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25 Feb 2013

Government's Annual Receipts from Taxation of Casino Revenues

The government collects taxes from casino and other gaming activities, with total betting and sweepstake duties amounting to $2.0 billion in FY2010, $2.2 billion in FY2011, and $1.5 billion for the first nine months of FY2012, but does not disclose specific casino tax revenues due to commercial sensitivity.
These revenues are pooled into the Government Consolidated Fund and support all public programmes, including social initiatives for the less fortunate, while spending on gaming addiction increased from $3.8 million in FY2009 to about $10 million in FY2012.
The National Council on Problem Gambling (NCPG) and other measures address addiction, and the government cannot provide a separate net figure for casino tax impact as the initial effects on other gaming activities have evolved over time.

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