Economy & business

Ng Shi Xuan asked if the Government would increase benefits for large families under the new Large Families Scheme introduced in 2025, specifically regarding U-Save utility rebates and GST vouchers. Jeffrey Siow explained that the scheme aims to support families with three or more children and builds on existing subsidies that provide greater support per child. He clarified that other social schemes, like the GST Voucher, are means-tested to prioritize aid for lower-income households. The Government will continue to review social schemes to ensure targeted assistance for households in need.

Cai Yinzhou raised questions regarding the Buy Now, Pay Later (BNPL) transactions, including their total value in 2025 and the potential need for data on repayment difficulties among Singaporeans, broken down by age and income. He also suggested updating the BNPL Code of Conduct to lower purchase limits for users under 21 and proposed a unified spending limit across BNPL providers. Gan Kim Yong responded that safeguards are in place to prevent unsustainable debt, noting that BNPL transactions remain a small fraction of total card payments. The Monetary Authority of Singapore is actively collecting data from BNPL firms to monitor service use and assess consumer risks, while also indicating that most users with missed payments maintain relatively low outstanding amounts.

Ng Shi Xuan questioned the Minister for Digital Development and Information about government programs or grants for media startups focused on local content, including cultural features. Josephine Teo responded that the Infocomm Media Development Authority (IMDA) already supports local media companies, including startups, in content creation and development. Further information is available on IMDA's website.

Kenneth Tiong Boon Kiat asked about the publication of child-raising expenditure estimates, the reference data for determining the Baby Bonus quantum, and evaluations of cashflow fit against infant care expenses for lower-income households. Indranee Rajah affirmed the government's commitment to support families with various financial aids, noting that they do not publish specific child-raising expenditure estimates due to variability in family needs. She explained that the Baby Bonus Scheme is informed by household income and parent feedback, with adjustments made to enhance support during a child’s early years. Additional support measures include grants, subsidies for childcare and infant care, and programs like the Child Development Account, which helps cover approved child-related expenses. The government continuously reviews support measures to assist parents with the costs of raising children.

Pritam Singh asked about the criteria for revising the CPF Additional Withdrawal Limits (AWLs) threshold for Integrated Shield plans. Ong Ye Kung explained that MediShield Life premiums are fully payable by MediSave, while Integrated Shield Plans are optional and have capped MediSave usage due to AWLs. Enhancements to the AWLs will seek to balance increased MediSave use for private insurance with the need to preserve funds for basic healthcare needs in the future.

Abdul Muhaimin Abdul Malik raised concerns about the Beverage Container Return Scheme, asking if the Ministry consulted smaller beverage producers on compliance costs prior to implementation. He questioned the rationale behind the $2,500 grant, noting that small importers face annual sticker costs exceeding $24,000, and sought a review of the grant amount to mitigate price increases and compliance burdens on small businesses. Grace Fu Hai Yien referenced previous discussions on this topic from an earlier parliamentary sitting for details on the Ministry's responses.

Hazlina Abdul Halim questioned the Minister for Sustainability and the Environment about the factors for considering a sixth desalination plant, the impact of projected water demand and climate risks, estimated costs, and the potential effect on water tariffs. Grace Fu Hai Yien responded that the Public Utilities Board (PUB) is conducting a feasibility study for the new plant to address Singapore's growing water needs and will determine costs post-study. PUB aims to price water to reflect supply costs to ensure sustainable financing for future water infrastructure and security.

Fadli Fawzi asked whether driving lesson fees are regulated by the Traffic Police or any government agency and if the government has assessed recent fee increases by driving centres for anti-competitive behavior. K Shanmugam confirmed that driving schools must charge fees deemed fair and reasonable by the Traffic Police, which recently reviewed fee increase proposals from three driving schools. The fee increases were aimed at addressing rising operating costs and improving instructor wages, which should help increase the availability of driving lessons and reduce wait times.

Edward Chia Bing Hui asked about Singapore's energy transition strategy regarding global energy market volatility and the safeguards for maintaining decarbonisation goals despite price fluctuations. Gan Kim Yong emphasized the importance of diversifying energy sources for the transition, including natural gas, domestic solar, low-carbon electricity imports, and alternatives. Currently, 95% of Singapore's electricity is generated from natural gas, and efforts are underway to develop a second LNG terminal for secure supplies and to maximize solar deployment towards a target of 2 GWp by 2030. The government is also pursuing low-carbon electricity imports and investing in emerging energy technologies like hydrogen and advanced nuclear, supported by a $10 billion Future Energy Fund to mitigate risks associated with strategic low-carbon projects. A carbon tax has been implemented to appropriately price emissions and fund decarbonisation initiatives.

The Minister of State for Trade and Industry proposed a resolution regarding grants from the Monetary Authority of Singapore (MAS) to support Sudan's debt relief efforts. The proposal stipulates a maximum amount of 4,480,000 Special Drawing Rights, equivalent to approximately US$6,100,000. The resolution is being presented in accordance with the Bretton Woods Agreements Act 1966. There were no further discussions or objections from other members, and the proposal was agreed upon by Parliament.

Deputy Prime Minister's Minister of State for Trade and Industry, Alvin Tan, moved two motions supporting grants to the IMF's Poverty Reduction and Growth Trust (PRGT) of 21 million SDR (approx. US$28.6 million) and to the PRG-HIPC Trust for Sudan's debt relief for 4.48 million SDR (approx. US$6.1 million). The IMF, as a crucial body for international monetary stability, has requested contributions from stronger member countries to support financially vulnerable nations, particularly in light of increased demands post-COVID-19. Several Parliament members raised concerns about the rationale behind the specific amounts, governance, and accountability mechanisms for these grants, alongside inquiries about how Singapore's contributions align with its national interests amid a changing global environment. The motions were eventually approved by Parliament, underscoring Singapore’s commitment to multilateralism and the global obligation to aid poorer nations.

Low Wu Yang Andre questioned the Minister for Manpower about the acquisition of AI start-up Manus, specifically concerning the percentage of Singapore citizens in its workforce, local headcount retention guarantees, and the Ministry's role in ensuring foreign start-ups aid local skill transfer. The Senior Minister of State for Manpower, Dr. Koh Poh Koon, explained that the Ministry does not intervene in acquisitions and keeps individual company workforce demographics confidential. He emphasized that the Economic Development Board (EDB) supports skills transfer and development for Singaporeans while ensuring that all companies comply with local manpower laws. Low expressed concerns about redomiciled companies potentially exploiting Singapore's business environment and inquired about specific hiring targets for such companies, to which Koh reaffirmed that all companies must adhere to the same hiring practices without differentiation.

Saktiandi Supaat questioned the Deputy Prime Minister about tracking food and beverage outlet closures from 2015 to 2025, including breakdowns by type and common closure reasons, as well as measures to preserve local heritage. The Minister of State for Trade and Industry, Alvin Tan, indicated that while the government tracks business cessations, it does not categorize them by outlet type, but noted a 42% net increase in F&B entities during that period. Efforts to support local heritage businesses and enhance F&B offerings are in place through various initiatives, including the Inter-agency Task Force for Heritage Businesses. Saktiandi raised concerns about the impact of closures on independent operators and proposed increasing support from SME Centres for struggling heritage businesses, which Tan acknowledged while highlighting existing support programs for SMEs.

Hamid Razak raised concerns about health insurance claims disputes, specifically regarding the number of claims filed with MAS and FIDReC, the proportion resolved favorably for policyholders, and trends in disputes over claim rejections. Alvin Tan provided data indicating that an average of 95 health insurance claims were adjudicated annually, with only 4% resolved in favor of policyholders, attributing the issues to policy terms or non-disclosure of medical history. He emphasized that most claims are paid without dispute and that the overall number of cases requiring adjudication has decreased, suggesting improved communication between insurers and consumers. Additionally, MAS expects insurers to adjudicate claims fairly and has mechanisms in place for consumers to challenge unfair rejections through FIDReC.

Saktiandi Supaat inquired about the impact of the 2026 CDC vouchers, specifically regarding household claims, spending proportions at heartland businesses, and overall effects on consumption and small business resilience. Edwin Tong Chun Fai responded that the latest tranche was launched recently, and it's premature to provide detailed claim and spend rates. Over the past four years, $3.995 billion in CDC and SG60 vouchers was spent, with $2.127 billion at heartland merchants and hawkers. The CDC vouchers not only support household needs but also boost local business and enhance the vibrancy of heartland shops.

Chua Kheng Wee Louis questioned the Acting Minister for Transport about the feasibility of requiring private hire car and taxi rental companies to place rental deposits in escrow. Jeffrey Siow responded that implementing escrow arrangements would lead to increased operational costs for these companies, which would be passed on to hirers as higher rental rates and potentially result in higher fares for passengers using point-to-point transport services.

Yip Hon Weng raised questions about the revised budget meal scheme, focusing on meal quality, portion standards, daily quantity limits, and potential incentives for exceeding minimum requirements. Chee Hong Tat responded that various food options are available in HDB coffee shops, and there are ongoing support programs for lower-income residents. The budget meal initiative will undergo changes, allowing operators more flexibility, with participation becoming optional for renewing tenancies from January 2026. Funding support for operators has been tripled, ensuring discounts are passed to stallholders, and HDB will standardize requirements for budget meals to include specific meal options while preventing quantity limits. Continuous engagement with operators will take place to monitor the situation and assess the need for further adjustments.

Chua Kheng Wee Louis questioned whether the Government has considered adjusting the Additional Buyer's Stamp Duty (ABSD) remission timeline based on the size of residential developments. Chee Hong Tat explained that the ABSD regime for licensed housing developers aims to ensure timely housing supply and mentioned that since March 2025, the remission timelines for complex projects have been extended, specifically for large en bloc redevelopments that meet certain criteria.

Kenneth Tiong Boon Kiat asked the Minister for Social and Family Development about the uptake of the Enabling Employment Credit by eligible employers, the barriers to greater utilization, and measures to raise the employment rate of persons with disabilities to 40% by 2030. Masagos Zulkifli highlighted that employers hiring residents with disabilities earning under $4,000 are automatically enrolled in the credit scheme. He referenced a previous written reply detailing barriers faced by employers and the support measures in place. Additionally, the Taskforce on Assurance for Families with Persons with Disabilities will propose further recommendations to enhance support for employers and improve job resilience for persons with disabilities.

Ng Shi Xuan asked about the take-up rate of the Special Needs Trust Company's services, specifically in terms of household income, per capita income, and race. Masagos Zulkifli B M M reported that there are 1,410 trusts set up by SNTC, but income data is not collected as a requirement for opening a trust account. The largest proportion of trust accounts is held by Chinese clients, followed by Malays and Indians. The government plans to enhance awareness and increase take-up rates, particularly among median income families, by providing a dollar-for-dollar matching grant of up to $10,000 to support lower- and middle-income caregivers in establishing trust accounts.