Economy & business — Topics

5 Mar 2024

Committee of Supply Reporting Progress

The Senior Parliamentary Secretary to the Minister for Health moved that progress be reported and leave be sought to sit again tomorrow.
The Chairman consented, and the Committee resolved accordingly, transitioning from the Committee to the House.
Rahayu Mahzam formally reported that the Committee of Supply had made progress on the 2024/2025 Estimates and requested leave to reconvene the next day.
The Speaker approved the request and recognized the Leader.

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5 Mar 2024

Estimates of Expenditure for the Financial Year 1 April 2024 to 31 March 2025

The Committee of Supply met on the 5th allotted day to consider the Estimates of Expenditure for the financial year from 1 April 2024 to 31 March 2025.
The session was chaired by Mr Speaker, who oversaw the procedural reading and opening of the debate.
The discussion focused on the government’s proposed spending plans for the upcoming fiscal year, though specific departmental allocations were not detailed in the initial speeches.

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5 Mar 2024

Government Grants to Support Marquee Events and Considerations in Decision-making

The Singapore Tourism Board (STB) has supported leisure events through grants since 1998, with assessments focusing on qualitative and quantitative benefits like visitor numbers and brand profiling.
STB provided support for events such as the Olympic Esports Week and HSBC World Rugby Sevens Series in 2024, and the government invested $500 million in 2022 for tourism recovery post-COVID.
While competing with regional governments' event funds, STB aims to maintain Singapore's competitiveness by being strategic and bold in securing world-class events.
STB coordinates with other agencies, recognizing Singapore's hub status that benefits the region, while prioritizing Singapore's best interests in decision-making.

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5 Mar 2024

Savings Scheme to Pool Undisbursed Payouts from Nurses Retention Scheme

Mr Xie Yao Quan asked whether the Ministry of Health would consider a savings scheme to pool undisbursed payouts from the nurses retention scheme to protect their value against inflation.
The Ministry responded that the question had already been addressed in a written reply dated 4 March 2024, and invited the Member to seek clarification if needed.
The debate highlighted ongoing concerns about preserving the real value of future nurse retention payouts in the face of inflation.

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4 Mar 2024

Response to Calls for More Proactive Initiatives to Safeguard Employment

The Government’s strategy focuses on creating good jobs and equipping workers with the necessary skills through a two-pronged approach: driving economic competitiveness and investing in workforce skills development.
Key initiatives include the Industry Transformation Maps and Jobs Transformation Maps to guide business and job redesign, alongside collaboration between ministries to identify and address future skill needs through programmes like Career Conversion and SkillsFuture Career Transition.
Targeted support is provided for retrenched workers, and the Government aims to improve long-term career planning through better job matching and data access, while highlighting successful employment outcomes like low unemployment and sustained wage growth.

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4 Mar 2024

Time Taken for Payment of Invoices for Contracted Goods and Services Provided to Government

Leong Mun Wai asked for the percentage of invoices for contracted goods and services paid within five, 10, and 30 days over the last three years, separated for those above and below $5,000.
Lawrence Wong stated that most government credit terms are 30 days, with about 98% of invoices paid within credit terms, and smaller invoices below $5,000 are prioritised for earlier payment.
For invoices below $5,000, about 13% were paid within five days, 49% within 10 days, and 99% within 30 days over the last three years.
For invoices $5,000 and above, about 17% were paid within five days, 28% within 10 days, and 98% within 30 days over the last three years.

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4 Mar 2024

GST Collection from Fees and Charges

Leong Mun Wai asked what will be done with wrongly collected GST on 18 regulatory fees if taxpayers cannot be contacted or traced.
He inquired about the annual GST generated from over 5,000 government fees and charges from 2010 to 2023 and whether GST could be waived on all such fees.
Lawrence Wong stated that these questions were addressed in a prior parliamentary reply on 26 February 2024.

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4 Mar 2024

Local SMEs as a Percentage of Tender Applicants and Awardees in Government Procurement Opportunities on GeBIZ

In 2023, around 80% of tender applicants and awardees for government procurement on GeBIZ were local SMEs.
The Tender Lite procurement category is set to begin in April 2024, not in 2023 as initially referenced.
No specific data was provided on whether SME tender applicants have increased since the introduction of Tender Lite, as it has not yet commenced.

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4 Mar 2024

Proportion of Civil List Used in Respect of President's Attendance at International Appointment Meetings

Leong Mun Wai asked about the proportion of the Civil List used for the President's travel costs and the number of civil servant man-hours spent supporting his international meetings.
Lawrence Wong, responding for the Prime Minister, stated that the Government supports the President's international appointments as beneficial to Singapore's national interests.
Relevant agencies, not the Civil List, bear the costs of overseas trips such as airfare, transport, and accommodation as part of their international work.
The government does not separately compute man-hours for supporting the President, as civil servants' work on international matters is shared and not unique to presidential support.
The response emphasizes that the Civil List is generally not used to fund such presidential international engagements.

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4 Mar 2024

Government Expenditure to Develop Local Music Industry in Last Five Years

The Government, primarily through the National Arts Council (NAC), has spent on grants, scholarships, and strategic initiatives to develop the local music industry over the last five years.
Funding supports music projects, capability development, international exposure, and organisational support for companies and orchestras, alongside platforms like Hear65 to boost visibility.
Outcomes include increased public engagement through campaigns, accolades for national orchestras and individual artists, and the growth of local talent through competitions and international recognition.
NAC plans to continue nurturing artists and forging partnerships in line with the Our SG Arts Plan 2023 to 2027.

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4 Mar 2024

Inclusion of Inflation-adjusted Metric to Payouts in Scheme to Retain Nurses

Mr Yip Hon Weng asked if the new ANGEL scheme for nurses should include inflation-adjusted payouts over their careers.
The Ministry explained that ANGEL is a retention scheme with payouts spread over up to 20 years, not a long-term savings scheme, limiting long-term investment potential.
The Ministry will regularly review nursing salaries and ANGEL deposits to keep the overall compensation package competitive.

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4 Mar 2024

Committee of Supply Reporting Progress

The Deputy Leader of the House, Mr Zaqy Mohamad, sought and received the Chairman’s consent to report progress and adjourn the sitting to the next day.
A resolution was passed to report progress on the Committee of Supply’s review of the 2024/2025 Estimates of Expenditure and to reconvene the following day.
Mr Speaker resumed the Chair of the House, and Senior Minister of State Zaqy Mohamad formally reported the Committee’s progress and requested leave to sit again tomorrow.
The Speaker accepted the report and granted the request for adjournment.

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4 Mar 2024

Committee of Supply – Head S (Ministry of Manpower)

The Ministry of Manpower (MOM) announced a tripartite agreement to raise the retirement age from 63 to 64 and the re-employment age from 68 to 69 by 2026, as part of efforts to support an ageing workforce.
MOM outlined enhancements to support lower-wage workers and retirement adequacy, including raising the Local Qualifying Salary (LQS), enhancing the Matched Retirement Savings Scheme (MRSS) with a higher matching cap, and rolling out the $8.2 billion Majulah Package for older Singaporeans.
The ministry will implement tripartite guidelines on Flexible Work Arrangement (FWA) requests to standardise the process for employees and employers, while also expanding career conversion programmes and launching new overseas immersion schemes to support worker upskilling and career mobility.

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4 Mar 2024

Estimates of Expenditure for the Financial Year 1 April 2024 to 31 March 2025

The debate focused on the Estimates of Expenditure for the financial year from 1 April 2024 to 31 March 2025, marking the 4th Allotted Day for consideration in the Committee of Supply.
Proceedings were formally opened with the Speaker in the Chair, initiating the review of proposed government spending for the upcoming fiscal year.
The discussion aimed to scrutinize and approve the budget allocations across various ministries and agencies for the specified period.
No substantive policy speeches or detailed expenditure items were presented in the provided excerpts, indicating an early stage of the debate.
The session adhered to parliamentary procedures for budgetary approval, setting the stage for subsequent detailed deliberations.

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4 Mar 2024

Economic Returns from Government Grants Provided for Taylor Swift's Eras Tour Concerts in Singapore

The Minister explained that the government’s grant for Taylor Swift’s Eras Tour was justified by significant direct economic benefits, such as tourist spending and enhanced global recognition, despite not disclosing the exact amount due to business confidentiality.
He noted that Singapore faces regional competition for major events, and the grant was part of a broader strategy to position Singapore as a cultural and entertainment hub, leveraging its strategic location, infrastructure, and safety.
The government highlighted efforts to make concerts more inclusive, such as reserving tickets for lower-income families and volunteers, and exploring ways to involve local artists in marquee events.
In response to concerns about exclusivity clauses, the Minister confirmed confidentiality agreements exist and that the government would assess any breaches and take appropriate measures.
The debate also touched on setting tangible targets for the concert economy, with the Minister emphasizing a balanced approach that values both economic returns and social benefits for the community.

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1 Mar 2024

Clarification by Senior Minister of State for Communications and Information

Senior Minister of State Tan Kiat How clarified a factual error in his earlier speech about support for enterprises through the Advanced Digital Solutions (ADS) scheme.
He corrected that the ADS scheme brings together the technology ecosystem to curate solutions for key problems identified by sector leads.
He also clarified that two new schemes were launched for enterprises to gain experience using GenAI, not under the ADS as previously stated.
The correction was made in a written statement circulated with the Speaker's leave, following Standing Order No 29(5).
The original speech was given during the Committee of Supply debate for the Ministry of Communications and Information on 1 March 2024.

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1 Mar 2024

Ensuring Singapore Remains Leading Aviation Hub in Transit to Sustainable Aviation Fuel

Zhulkarnain Abdul Rahim inquired about measures to maintain Singapore’s aviation hub status amid the 2026 mandate for sustainable aviation fuel (SAF) use on all departing flights.
Chee Hong Tat responded that the government’s SAF ecosystem strategy balances economic competitiveness with environmental sustainability to support the air hub’s long-term growth and attract investments.
He directed reference to the Sustainable Air Hub Blueprint published by CAAS on 19 February 2024 for detailed information on the approach.

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1 Mar 2024

Initiatives to Improve Avenues for Consumers to Resolve Disputes with E-commerce Platforms

The Minister outlined that major e-commerce platforms like Lazada and Shopee use CASE's Standard Dispute Management Framework, which has helped raise the resolution rate for CASE-assisted e-commerce disputes to 88% in 2023.
Consumers who cannot resolve disputes directly with sellers can seek CASE assistance, which includes advice, facilitated negotiation, Small Claims Tribunal claims, bank chargebacks, or other alternative dispute resolution methods.
The government continues to promote initiatives like CASETrust accreditation for e-businesses to ensure fair practices and improve dispute resolution accessibility and efficiency for consumers.

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1 Mar 2024

Measures to Protect Consumers in E-commerce Marketplace

The Consumer Protection (Fair Trading) Act protects consumers against unfair practices in both e-commerce and offline transactions, and Enterprise Singapore has issued guidelines for best practices in electronic commerce.
Consumers are advised to use reliable e-marketplaces, such as those with CaseTrust accreditation or the Standard Dispute Management Framework, and the Ministry of Home Affairs rates marketplaces annually on transaction safety features.
CASE and the Competition and Consumer Commission of Singapore provide advisories on misleading online practices and offer assistance for resolving e-commerce disputes.

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1 Mar 2024

Disqualified Filing Agents and Individuals with Cancelled Qualified Individuals Status Operating under Different Entities

Ms Nadia Ahmad Samdin inquired about the number of disqualified Filing Agents and individuals with cancelled Qualified Individuals status who continued operating under different entities in the past three years, and the monitoring actions by ACRA to prevent such incidents.
Lawrence Wong explained that Registered Filing Agents (RFAs) and Registered Qualified Individuals (RQIs) are regulated by ACRA, with disqualification resulting in a minimum two-year registration bar and careful scrutiny of any future applications.
In the last three years, ACRA cancelled 11 RFA and 11 RQI registrations, and none are currently operating as RFAs or RQIs.
Individuals with cancelled RQI licenses may join another RFA, but the firm and its RQI must ensure the individual meets fit-and-proper requirements and that their ACRA transactions are properly supervised.
ACRA's monitoring includes requiring RFAs to appoint RQIs responsible for compliance and conducting due diligence to align activities with clients' business and risk profiles.

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