Don Wee
Singapore
“(In English): Finally, it is about public awareness. Beyond the real estate sector, what efforts will be made to educate the general public about these challenges to foster a culture of vigilance against money laundering?”
“Chairman, Enterprise Singapore plays a crucial role in supporting our SMEs through various grants and schemes in their green transition. However, the current reimbursement model creates uncertainty in capital recovery, discouraging SMEs from making much-needed investments in sustainable equipment.”
“Since the Government has household data on income, education and occupation, SkillsFuture can pre-qualify Singaporeans and directly recommend accredited courses tailored to their needs.”
“Thank you, Mr Speaker, Sir. I have one supplementary question for the Minister of State. I thank the Minister of State for his positive update. I also thank LTA for improving the bus connectivity as well as the road safety of my Brickland residents over the past four years.”
“I propose that we channel these funds into strategic areas that will directly benefit Singaporeans, such as sustainability initiatives, green infrastructure projects and education programmes.”
“As the Registrar will be better empowered to maintain accurate records of directors, including disqualification status, this could lead to greater transparency and trust in corporate governance.”
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“However, in view of Singapore's constraints, we must take care to set rates and pace the increases such that businesses will have sufficient time to adjust. Hence, I understand and support the Government's decision to provide allowances to large emitters as part of the transition framework. At the same time that we support the transition of hard-to-abate sectors, we must also ensure that our policies reflect the appropriate level of ambition to maintain Singapore on its decarbonisation pathway. I would like to know how the Government sets the amount of allowance for these large emitters. How many of these large emitters are already complying with these internationally recognised efficiency standards? If they are already complying, are we not subsidising them by providing them with allowance? Will these large emitters be prescribed a timeline to decarbonise? Can the unused allowances be traded in the carbon exchange market? In addition to the carbon taxes, would the Government consider putting a cap on the amount of GHGs emitted by large emitters, such as the oil and gas industries? Large emitters in Singapore which plan to shrink their carbon tax bills by buying ICCs will be able to do so only if the credits meet Government's prescribed criteria. At minimum, for instance, the credits must be certified by the Verra or Gold Standard. Can the Government work with Verra and Gold Standard to include local projects in Singapore, or consider the inclusion of Singapore Index on Cities Biodiversity score to generate and offer the carbon credits to emissions-intensive sectors, such as the petrochemical industry, that find it hard to reduce their carbon emissions in the short term? This will stand to benefit both Singapore and the companies that choose to invest in our companies.”
“Mr Speaker, Sir. I declare that I am working with a Singaporean bank, but I do not manage any revenue performance target. Given that Singapore has committed to achieve net-zero emissions by 2050 and many large organisations, like the United Overseas Bank which had committed to net zero last week, how does the Government plan to work with the whole ecosystem of stakeholders to help ensure social and economic progress in tandem with decarbonisation to align with Singapore's net-zero emissions policy? Impacted stakeholders include large emitters, SMEs and consumers. What role does Singapore intend to play on the regional and global stage in maintaining our competitiveness and supporting a just transition? The step towards progressively higher carbon taxes is a bold move. Within a few years, our carbon tax will be the highest in Asia, placing us amongst leaders in this region for decarbonisation efforts. While doing so will create new opportunities with exciting potential, it has its trade-offs too. On one hand, we want to strengthen our response to climate change because of our island's own vulnerability. We also aspire to become a carbon services hub in the future, which will attract investments and create job opportunities for Singaporeans. On the other hand, the trade-offs include rising business costs and the squeeze on the profits of our companies. As an economy with exports constituting more than 170% of our GDP, we risk hurting our international competitiveness with the imposition of such substantial carbon taxes. Our trading partners may turn to competitors which, with lower or no carbon tax, can underprice us. Higher carbon taxes will certainly drive us towards a greener economy.”
“Thank you, Speaker. I thank the Senior Minister of State for his reply. Can MOE work with MOH to increase the intake of deserving local Polytechnic graduates? The second supplementary question: I understand that returning Singaporeans from recognised foreign universities have a difficult path of obtaining their full registration licences. Can MOH put in measures to ease the transition?”
“Next, there is an increasing power given to the oversight committee and it becomes critical on how the oversight committee members are being selected and appointed. The new section 38E empowers the oversight committee to appoint any employee of the authority or any other individual who is suitably qualified as entity reviewers to carry out a review of quality control standards or AML/CFT requirements or both. Given that the reviewer has an important role in performing the heavy lifting of the inspection, there should be minimal qualifying criteria for the selection of the reviewers. Can the Minister elaborate on the abovementioned points? According to the Global Financial Services Index, Singapore has overtaken Hong Kong to become Asia's top financial centre and the third in the world after moving up three places recently. This creates many opportunities for the accounting firms, provided they have enough staff to support their growth. I would like to request for the relevant sector lead to work closely with the industry and the accountancy bodies like the Institute of Singapore Chartered Accountants and CPA Australia's Singapore Division on this matter. I hope the challenges of the public accountants and accounting firms are recognised and the Government can consider providing more support as the profession continues to uphold quality in financial reporting and audit as well as contribute to Singapore's position as a global financial centre and business hub.”
“Therefore, I would like to raise the question of how the Government can help the profession, especially the small and medium-sized audit practices, that is, the SMPs. The support could come in the form of funding to help public accounting entities train their staff and/or employ consultants to help with the implementation of the new quality management standards. Another area of support is manpower. I would like to touch on the new Employment Pass regulation, the Ministry of Manpower (MOM)'s Complementarity Assessment Framework (COMPASS), which comprises six criteria to assess eligibility for Employment Passes. One of the criteria is the Shortage Occupation List, which considers talents in short supply on the local job market. Each job opening that corresponds to the Shortage Occupation List scores 20 points, which will count towards the total score that will determine eligibility for work pass. I would like to request that audit professionals be considered for inclusion on the COMPASS Shortage Occupation List. Many SMPs face challenges in attracting and retaining local talent and foreign talent are needed to fill the gap in the local workforce. I understand that occupations are considered for inclusion on the Shortage Occupation List based on their relevance to Singapore's economic priorities, the degree and nature of labour shortage and the sector's progress in developing the local pipeline in the medium term to address these shortages. On that note, I believe public accountants and public accounting entities are of key relevance to Singapore's economic priorities. They play an important role in the growth and development of the Singapore economy as they act as an industry multiplier, providing professional services to businesses.”
“Mr Deputy Speaker, Sir, I declare that I am an elected Council Member of the Institute of Singapore Chartered Accountants (ISCA) but I do not have any commercial interest in any accounting entity. I support this Bill which proposes to amend the Accountants Act to enhance the audit regulatory regime and introduce measures for better compliance with professional requirements and standards by both public accountants and accounting entities. This will help elevate the level of audit quality in Singapore and enhance Singapore's standing as a trusted business hub through better assurance of information available to investors and the public. This Bill will undoubtedly impact public accountants; they are expected to implement robust policies and procedures under the new quality control standards and sanction orders will also be imposed for non-compliance. These new quality control standards are a substantial development and change for the audit profession globally, as they include significant shifts in how firms manage quality. Firms would have to adjust their internal processes and systems to help firms effectively and efficiently implement the new standards. Based on my understanding, the Big Four audit firms have been preparing to implement the new Singapore Standards on Quality Management way before the standards become effective. The smaller firms with limited resources are likely to have lesser time, knowledge and most importantly, the resources to do so. This Bill came at a time when there is a severe shortage of audit professionals in Singapore. While I believe members of the profession recognise the need for emphasis on quality, the challenges they face should be acknowledged.”
“] Mr Speaker, Sir, I welcome the new Bill to regulate debt collection activities in our country through a licensing system which empowers the Police to stop inappropriate debt collection practices. Some debtors, unable or unwilling to repay the borrowed money, refuse to contact their lenders. They should discuss and negotiate to reschedule their debt repayments. In order to recover the money, the debt collectors use all kinds of methods to collect the money. But some collectors go overboard and take extreme measures, harassing the borrowers' families, neighbours, colleagues and so on, or cause members of the public to panic, which is unacceptable to us. Recently, I heard that some lenders, after learning that some people are facing financial difficulties, obtain their bank account numbers and directly remitted sums of money to them and then try to collect the debts and charge very high interest. I would like to ask whether the authorities have investigated such cases. Is this a serious problem? And is there a rising trend? (In English): In conclusion, I support the Bill.”
“Mr Speaker, Sir, there is a segment of our population which struggles to get loans from banks. Part of their demand for money will be met by moneylenders in return for higher interest rates. As the Ministry has stated, debt collection is a legitimate activity and the borrower has legal obligations to meet the terms of the loan repayment. When the debtor is unable to do so, ideally, both lenders and borrowers should discuss and renegotiate the schedule of repayment. Unfortunately, not all attempts for revised arrangements will work out smoothly. Some borrowers avoid communicating with their creditors altogether or disappear. Others even made false accusations of harassment against their creditors. On the other hand, there are valid complaints, such as against increasingly strange, or some might say, creative methods used by the debt collectors. They are invariably unpleasant, often disturbing and, sometimes, outright alarming. Some collectors do harass their targets and those around them, such as family members, neighbours and co-workers, in attempts to get the attention of the borrowers and pressurise them to pay up. We need to put a stop to these wrongful practices. Hence, I welcome the proposed legislation to set up a licensing regime and specify what the acceptable debt collection methods will be. I would also like to take this opportunity to request that MHA look into the moneylending activities involving foreign workers, including migrant domestic workers. They are a vulnerable segment and susceptible to marketing attempts by lenders keen to exploit their need for loans. Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.”
“Thank you, Mr Speaker. Many SMEs, which include the small and medium audit practices or consulting practices are facing a talent crunch or manpower shortage. The ONE Pass allows this holder to hold multiple jobs and even starts his or her own business. I wonder can MOM extent this principle or concept to EP holders who are working in these knowledge-based industries? (In Mandarin): [Please refer to Vernacular Speech.] I agree with the Minister that we need to attract top talent like "Zhuge Liang (诸葛亮)". But we also need to have good training schemes to groom our own "Sima Yi (司马懿)" and "Pang Tong (庞统)".”
“We need communications talent as well to help build the immune system of our psychological defence and to conduct information warfare, when necessary, against hostile state and non-state actors. (In English): Madam, we celebrate our 57th National Day next week. This will be the last year where we will see demonstrations of the capabilities of only three SAF services. I look forward to seeing how the DIS will share with Singaporeans some of its capabilities at our 58th National Day celebrations next year.”
“National defence is not a sector which we can easily augment with foreign manpower or talents. In this shrinking pool of human resources, how will MINDEF ensure that we will be able to recruit and retain the necessary talents to join DIS? With a sharp shortage of talent in the IT sector, not just in Singapore but all over the world, what strategies does MINDEF have to beat the competition, particularly the private sector, and hire the right talent to join this service? The situation is acute as we can only hire Singaporeans who embrace these three hallowed words – duty, honour and country. They must see the big picture and understand the importance of defending our way of life, with a strong sense of mission and commitment. In addition, how will the Ministry ensure that the formation of the fourth service will not compromise the defence capabilities of our three existing services? Mdm Deputy Speaker, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] I would like to ask the Minister if he could elaborate on whether and how the DIS will build our capability in information warfare, like what an European country had conducted against Ukraine in early 2022? Such information campaigns are conducted on various platforms online, capitalising, especially, on the wide-ranging effect of social media. The concoctions of mashed-up news and fake news using different channels are spread widely and instantaneously. They seek to influence national and global opinions, to shape policies and developments of political agendas. Such information operations are becoming increasingly more complex and sophisticated. How will we ensure that the hearts and minds of our Singaporeans will be protected against such malicious and nebulous influences?”
“Mdm Deputy Speaker, as the world becomes increasingly reliant on digital technology in almost every aspect of life, the impact of attacks in cyberspace is magnified manifold in our physical world. Warfare is no longer limited to land, sea and air. For example, by disrupting electricity and communications systems via online attacks, enemy forces can substantially weaken a nation's defence before launching a physical invasion. Hence, I fully support the establishment of the DIS to boost our SAF's capability to defend Singapore. So far, MINDEF has been running our military cyber defence and intelligence teams in the absence of a specific service branch. MINDEF already has its Command, Control, Communications, Computers and Intelligence (C4I) Community and the Defence Cyber Organisation, which coordinates cybersecurity across the defence sector. Such an arrangement is quite similar to those in many other countries, such as the United States, Canada, France, the United Kingdom, Australia, Israel and South Korea. In these countries, the defence ministries manage cyber defence and military intelligence departments without creating another distinct service branch. An exception is Germany, which set up its Cyber and Information Domain Service branch to take command of its cyber, IT, military intelligence, geoinformation and operative communication units. Would the Minister share, with the House, the Ministry's considerations in creating a separate service branch? Why is this necessary and what are the specific advantages of doing so? One of my greatest concerns is that our resources, in terms of both manpower and finances, are limited. Our resident total fertility rate (TFR) of 1.1 remains substantially below the replacement rate of 2.1. We are a rapidly ageing society.”
“Since ABSD was introduced in December 2011, the Government has reviewed and raised the rates, to ensure a stable residential property market. Government has also made refinements, including introducing ACD, to ensure that the policies meet the objectives. However, based on feedback that we hear from time to time, the interest to find ways to avoid such duties will remain and even grow stronger. What will MOF do to ensure that ABSD and ACD will not be easily avoided? Mdm Deputy Speaker, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Mdm Deputy Speaker, how much more are these stamp duties expected to contribute to our tax revenues? Lastly, may I ask the Minister what is the expected impact on Singapore as a wealth management hub? Would these changes reduce Singapore’s appeal to the ultra-high-net-worth group?”
“Mdm Deputy Speaker, I declare that I am working with a Singaporean bank and I am a council member of the Institute of Singapore Chartered Accountants, but I do not handle any client. I rise in support of the Bill. I am in favour of applying the Additional Buyer’s Stamp Duty (ABSD) of 35% on any transfer of residential property into a living trust, even if there is no identifiable beneficial owner at the point of transfer. As such trusts are instruments only available to the ultra-high-net-worth individuals who can afford to pay for the properties in cash, it is all the more important that we close the loopholes which may be exploited by such buyers to avoid paying ABSD. Similarly, the introduction of the Additional Conveyance Duties (ACD) for Trust and the stamp duty treatment for renunciation of interest in residential property that is held on a trust, are welcomed, particularly during this period of widening income equality. I agree with the Ministry that such measures are necessary to promote an equitable and sustainable residential property market, where the high-net-worth individuals should not have a particular advantage in avoiding taxes which other property buyers would have to pay. I have some questions. Firstly, as the amendments only apply to instruments executed from 9 May 2022, what about a pre-existing trust if a trustee subsequently appoints assets to an identifiable beneficiary or distributes assets to any identifiable beneficiary? Secondly, would the amendments apply to trusts incorporated overseas, for example, in a tax haven like British Virgin Islands? Investors may seek to transfer ownership of properties into such trusts to avoid the duties.”
“Mdm Deputy Speaker, I am glad to know that MTI sees the need for a review of the fuel retail market. May I know what are the aims of this review and how will the review ensure that the fuel prices are representative of the global competitive fuel market?”
“I would like to ask the Ministry for clarification and details about post-adoption reviews for local adoptions and adoptions of children from other countries. I would like to conclude with my support for the Bill.”
“Many of these men would like to adopt their stepchildren. However, the Chinese embassy requires that the biological fathers have to endorse and sign the adoption papers. In some cases, there are delays in the ex-spouses' negotiation of terms and conditions. In other cases, the biological Chinese fathers may refuse to sign. With the interests of the children at heart, I would like to request the Government to consider charging these children school fees that are similar to those paid by PRs. There are long-term benefits to nurturing people. The Government may impose certain conditions, such as indications of these foreigner children setting their roots here in Singapore. (In English): Lastly, regarding post-adoption reviews. It is not clear to me if post-adoption reviews will be required or how it will be implemented for adoptions here. The Bill proposes to empower the Court to order attendance of relevant support services, such as counselling and mediation, if required at any point during the adoption proceedings or after an order has been made. However, this is different from a routinely scheduled post-adoption assessment. For children adopted from China, the China Centre for Children's Welfare and Adoption (CCCWA) requires post-placement reports. These reports are to be prepared by accredited agencies here and submitted to CCCWA. For stepchildren and kinship adoptions, the adoptive parents are required to undergo at least one post-adoption assessment within three years from the adoption registration in China. For children adopted from the social welfare institution, parents need to complete six post placement reports at the sixth month, first year, second year, third year, fourth year and fifth year milestones.”
“My second suggestion is to provide funding for adoptive parents' support groups. Funding would be helpful for authorised adoption agencies to facilitate more regular support group sessions. Through such sessions, social workers will be able to detect problems faced by adoptive families and assist them in a timely manner. Parents can also turn to these groups for emotional support and useful advice at different stages of their children's growth and development. Unique issues that they may face would include disclosure, family conflict between the adopted and biological children or other family members, or a budding romance between adopted children or between an adopted child and a biological child, amongst others. I see the importance of support groups and strongly encourage adoptive families to participate. Mr Deputy Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] My third suggestion is regarding the school fees paid by non-citizen stepchildren in the process of being adopted. Until they are adopted and become Singapore Citizens, they have to pay international student fees, which are much higher than those that are paid by Singapore Citizens and Permanent Residents (PRs). For Primary schools, the fees are over $800 per month. For Secondary schools, they range between $1,000 and $2,500. These fees would impose a heavy burden on most families. Some of these children may even have to miss school until they are adopted and become citizens. For more complex cases, the adoption process may take up to two years. This break in their learning is a disservice to growing children. I have received some feedback from a number of Singaporean men who are married to divorcees from China with children from their previous marriages.”
“Mr Deputy Speaker, Sir, the new Adoption of Children Bill is timely and will enhance measures to protect the interests of adopted children and help them find good homes and families. I have four suggestions. The first is regarding adoption leave. Presently, adoptive mothers of children below the age of 12 months are entitled to 12 weeks of paid adoption leave, which they can use to bond with, and care for their adopted newborns and infants. For adopted children aged between 12 months and seven years old, adoptive parents can only tap on six days of Government-paid childcare leave (GPCL). For those aged between seven and 12, Government-paid extended childcare leave is only two days. I would like to suggest that the Ministry consider extending adoption leave to mothers of children aged up to six years. After all, toddlers and preschoolers need as much, if not more, time than infants to bond with their adoptive mothers. The first few months of the adoption are a major and critical adjustment period for both mother and child. With 12 weeks of adoption leave, the mother will be better enabled to understand the traits and needs of her adopted child. The child will also benefit immensely from the dedicated attention of his or her adoptive mother in a new home and, in some cases, a new country. Increasing the adoption leave for mothers of toddlers and preschoolers will also encourage more suitable local couples to consider adopting children in state care who are typically older. As the Bill proposes to clarify the threshold for the dispensation of consent for the welfare of children under state care, such a provision will be helpful in meeting the future rising needs of older children being adopted into stable families.”
“Established insurers and their brokers also need to be more open to providing insurance coverage and services for the virtual asset industry. Furthermore, a number of traditional financial institutions are seeking to develop their own cryptocurrencies on private blockchains to enable the instantaneous and cross-border transfer of payments. To support Singapore Green Plan 2030, I suggest that businesses conducting digital asset "mining", or similar activities, should receive some form of tax incentives if they source their own renewable energy for their activities. Such tax incentives will enable Singapore to become a global leader in green crypto-asset mining. Mdm Deputy Speaker, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] Lastly, our Singapore Police Force must be well-situated to understand law enforcement priorities and strategic objectives in this area. Its collaborative relationship with MAS is a key strength. Our authorities should upgrade their IT analytical tools to better exploit the potential of financial artificial intelligence to detect criminal activity by persons who are not already of interest to law enforcement, and to take advantage of reports on international funds transfers and large cash transactions. (In English): I support the Bill. 8.19 pm”
“In addition, the licensee must obtain MAS' prior written approval for any plan or proposal to introduce or offer a new or incidental product, service or activity, or to make a material change to an existing service or activity. MAS should require a platform operator to establish and implement written internal policies and governance procedures to ensure compliance with requirements concerning the custody of virtual assets. A platform operator should also have adequate processes in place for handling requests for deposits and withdrawals of clients' virtual assets to guard against loss arising from theft, fraud and other dishonest acts, professional misconduct or omissions. Singaporean consumers require confidence that they are able to access the products and services they desire at home, via legally regulated and compliant professionals, rather than by seeking out risky services in unregulated locations. Any regulation of virtual asset service providers should be designed to ensure the following points are considered: minimum capital requirements; audit certificate/external assurance of custodial procedures; segregation of customer and operational funds; annual compliance requirements; being managed by a responsible person with adequate experience; proper segregation of participants' assets and private keys from the marketplace's own assets; appropriate record keeping; maintenance of policies and procedures. Other considerations. The development of VAs will provide many new opportunities, including those in Singapore's technological sector, which can translate into more high-skilled jobs and growth-oriented investments, if the right balance is struck by the Government in approaching regulation. There are opportunities for the larger accounting or audit firms, too.”
“I propose a risk-based approach for the regulatory framework to identify digital asset services that pose sufficient risk to warrant regulation and where such risks are crucial to address. Issues, such as the safe custody of assets, know-your-client (KYC) requirements, AML/CFT, market manipulation, accounting and auditing, risk management, conflicts of interest and the acceptance of virtual assets for trading, must be addressed. MAS should require VA trading platforms to adopt an operational structure and use technology to offer client protection which is equivalent to traditional financial institutions in the securities sector. On the other hand, the market licence specifically for those service providers should not impose onerous obligations that might cause these businesses to be forced out by larger international operators which have services provided both physically and virtually. We need to be mindful of ensuring a level playing field for VASPs. For example, any application of the existing financial services regulatory regime to digital asset businesses that would require compulsory professional indemnity insurance should take into account the current lack of availability of such insurance for digital asset service providers. That is, implementation of a regulatory regime where compliance is not possible, has the same effect as an outright ban on these activities. As virtual asset trading platforms interface directly with the Singaporean public, MAS should, therefore, accept licensing applications from platform operators who are committed to and capable of complying with the expected licensing criteria and continuing conduct requirements.”
“Mdm Deputy Speaker, I would like to focus on how the regulation of Virtual Asset Service Providers (VASPs) will be enhanced. Considering the potential of a virtual asset to be used for money laundering or terrorism financing (ML/TF) due to its anonymous nature, I strongly support the measures to strengthen regulation of this asset class for Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT). These steps are necessary. MAS’ future strategies will be informed by the close supervisory interactions with stakeholders in a rapidly evolving sector. The measures proposed in the Bill should be implemented quickly so that potential investors in our market will not be in a position of jurisdictional arbitrage which may be disadvantageous to the Singapore market. Investors and talent will be drawn to countries seen to be more accepting and supportive of this asset category, such as Estonia, Germany or the United Kingdom. Presently, entities in the business of VAs here are subject to the Payment Services Act where the VAs are considered digital payment tokens. VAs are subject to the Securities and Futures Act or the Financial Advisers Act where the products are capital market products. The Bill seeks to plug the gap of regulating entities created in Singapore while providing VA services overseas as a new class of financial institutions. Moving forward, would the Ministry or MAS consider setting up a new category of market licence for VASPs and digital currency exchanges? Their regulatory standards should be comparable to those for licensed securities brokers and automated trading venues. This is in order to build a simple, secure and accessible digital assets ecosystem that will support VA investment in Singapore, while mitigating potential risks.”
“Thank you, Mdm Chairman. I have three questions. Minister Masagos Zulkifli mentioned that, through ComLink, there will be a proactive approach to appear at deserving residents' doorsteps. So, I guess the lower-hanging fruits at this moment will be the existing clients in the SSO systems as well as there are also likely to be referrals from the Family Service Centres of ComCare recipients. So, my question is, can the potential pool of clients be expanded to beneficiaries of the MOE Financial Assistance Scheme (FAS), MediFund as well as the various self-help groups like SINDA, MENDAKI or CDAC? So, by doing so, their application process must have a housing type and identifier in the application process. And it will also mean that system requirements will be required. Second question. Along the same vein, relating to the app which allows clients to apply for various schemes, I guess this is like the Municipal Services Office (MSO) OneService app equivalent for less-privileged Singaporeans. So, over time, I hope the app can also allow these clients to apply for schemes offered by the self-help groups and the ComChest accredited Voluntary Welfare Organisations (VWOs). Third question. I also welcome the various improvements, like OneClientView, the single means-testing approach, as well as the tele-counselling which expedites the application turnaround time. So, to improve the handshake process further, can we also explore co-locating SSOs as well as the Family Service Centres, or SSAs, in future because the newer rental precincts do not come with spacious void decks these days. Lastly, I would also like to thank the —”
“Chairman, MSF piloted ComLink three years ago in 2019 and I am very glad to hear that the Ministry will scale up the scheme over the next two years island-wide. I want to thank the Ministry for implementing ComLink in towns like Choa Chu Kang. This will really help the vulnerable families with young children staying in rental flats. At the heart of ComLink are volunteer Befrienders, who play a critical role of befriending and suggesting plausible options for the families under ComLink and journey along with them. What is MSF doing to ensure that the volunteer Befrienders are adequately trained and of sound moral character, given he or she will be working closely with different members in the ComLink family? As part of ComLink, would MSF consider implementing a seamless application process for these families? For example, for disadvantaged children who require financial assistance to attend schools, Social Service Offices’ records about their families can be shared with MOE and the schools, so that the children do not need to apply for the Financial Assistance Scheme, the Straits Times School Pocket Money Fund and other related help schemes separately. Likewise, for other assistance that the families will need, I hope that MSF can tap upon information technology to make all the application processes easier. A seamless and integrated assistance application process will need more proactive and closer collaboration amongst all the involved Ministries, including MSF, MND, MOH and so on. Would the Ministry share an update on how the integration of assistance services for these families is progressing? Food Insecurity and Unhealthy Eating”
“Chairman, the Government had earmarked Choa Chu Kang, Nee Soon and Tampines as eco towns. Residents can expect transformations which will enhance their built environments so that they will be more green, sustainable and liveable for residents. For example, hawker centres will aim for zero waste by composting food scraps. In addition, these towns will be able to track their energy consumption, water usage, carbon emissions and their progress in recycling. Can the Ministry provide an update on what has been implemented so far and what future developments can be expected? Will new waste disposal methods, such as a pneumatic waste conveyance system (PWCS), be introduced in these towns? How about the installation of more energy-efficient light bulbs and solar panels? Will there be incentives for more rooftops to be converted to urban farming? Will the Ministry facilitate community collaborations for recycling projects and electricity and water conservation drives? Heat Inequality”
“Chairman, Singapore needs to set up an appropriate carbon price mechanism to internalise the emissions cost and incentivise reductions effectively while ensuring we do not impose unbearable burdens upon our enterprises and households. Would the Government elaborate on how the revised carbon tax level and any potential increments will support our green transition and what is the expected impact on households and businesses?”
“Chairman, the ongoing COVID-19 pandemic and the global supply chain crisis highlight how important it is for Singapore to become more self-sufficient for our food supply. I am glad that the Government is embarking on a holistic exercise to master plan the Lim Chu Kang area into a high-tech agri-food zone. This bodes well for our future food security. What is the status of the Lim Chu Kang Master Plan exercise? What is the progress of the discussion with the current cohort of farmers? Is the Ministry involving them and inviting them to participate in the new plan? They should be given assistance, to start off, and incentives to upgrade their operations. What other plans does the Government have to help our agri-food industry build up capabilities and capacity to achieve the 30 by 30 goal? Water Treatment”
“Chairman, hawker centres are an important part of our heartland estates, providing a variety of affordable food to our multicultural population. They are also gathering points which serve to help with community bonding. COVID-19 has disrupted our everyday lives significantly, including slowing down the progress of work in our construction sector. I would like to ask the Government how has COVID-19 impacted the progress of the construction of new hawker centres and will there be new centres that will open in 2022? Will we have enough hawkers to man the stalls at the new hawker centres? There is no point having new and nice hawker centres with low utilisation rate. How is the Ministry ensuring that we are training a pipeline of new hawkers to take over from the older cohort, many of whom will be retiring? Hawker Centres Transformation Programme”
“Chairman, the onslaught of online scams, the prevalence of fake websites and the ubiquity of misinformation on social media are having a severe detrimental impact on our society. The loss of hard-earned money, loss of trust in official and traditional sources of information and the confusion and harm caused by false information interferes with how a nation can function and operate normally and damages our social fabric. The digital universe has no border and invaders can potentially enter from anywhere if we do not put up our defences. It is not easy for the man in the street to keep abreast of the latest online scams and newly-evolved digital deceptions. What measures does MCI have in place to help protect our people from online harm? Protecting our People from Online Harms”
“Chairman, I declare that I am a council member of the Institute of Singapore Chartered Accountants and working with a Singaporean bank. In 2021, close to 70% of the nominal value-added to our GDP was generated by the services industries. I would like to ask the Ministry about the measures to boost the growth of our services sector. As of last year, the two biggest contributors were wholesale trade at 17.9% and finance and insurance at 14.6%. What are we doing to keep our lead in these two sectors? The professional services sector and information and communications sector account for 5.8% and 5.6% respectively and show much potential for further growth. Professional services, such as accountancy and consulting in information and communications technology (ICT) sectors, provide good jobs and career prospects for our Singaporeans. How will the Ministry support local enterprise developments and attract international investments in these sectors?”
“Thank you, Chairman. A clarification for Minister Edwin Tong. I am heartened to know that an IA and IP international valuation framework or standard will be developed in Singapore. So, I guess there are a lot of opportunities for the chartered accountants and auditors to work with the lawyers. Maybe I would urge IPOS to work with IE Singapore, as well as the accountants and the lawyers, to develop Singapore into a regional or worldwide valuation hub.”
“Mdm Chairman, the number of online scams has escalated in recent years. Criminals are taking advantage of more people communicating and transacting online due to the pandemic. Most common cases include technical support, Internet love, e-commerce, jobs, investment, loan- and bank-related phishing scams and/or China-related official impersonations. The money conned from the victims are often channelled through money mules, which allow scammers to use their bank accounts or assisted them by carrying out bank transfers and withdrawals. Last month, the Police investigated 157 people for suspected involvement in scams or money mule operations. In 2021, the Singapore Police Force arrested and investigated more than 7,000 scammers and money mules. How can we prevent people from becoming money mules? And they seem to become younger than before. In addition to public education and campaigns, would the Ministry consider new measures in collaboration with e-financial institutions? Private Security Industry”
“Chairman, Singapore has had a long and cordial relationship with China. We have been cooperating in many areas, including investment and trading, and have deep and robust ties through our joint entities and our people. Since 2013, China has been Singapore’s largest trading partner, and Singapore has been China’s largest foreign investor. Quite a number of Singaporeans and Chinese also share family ties. Both countries are committed to the many growing areas of cooperation and it can be seen in how both established a fast lane in early June 2020 to facilitate essential business and official travel. This is significant because the fast lane was China’s first with a Southeast Asian country. Singapore has enjoyed good relations with Japan and South Korea as well. Many Japanese and Korean companies have made investments and set up offices in Singapore. Singaporeans are very familiar with Japanese and South Korean products, entertainment and cultural influence. Japan and South Korea have been two of the most popular travel destinations among Singaporeans. There are many Japanese and Korean families living and working here as well. What steps have we taken to broaden our bilateral ties and strengthen our cooperation with China, Japan and the Republic of Korea amidst the pandemic? How will these ties translate into cooperation in technological and business development on the ground for the benefit of all parties? Relationship with India”
“Sir, the colours of my outfit today emphasise the importance of SAF's realistic training and its safety record. For families who have sent their children to serve National Service, they must be assured of safe training. For SAF, its safety record reflects well on how our troops and resources are managed. The SAF Inspector-General’s Office, or IGO in short, plays an important role in strengthening safety and the safety culture in the SAF. I understand that the IGO conducts independent safety audits and inspections within the SAF. I support efforts to critically review how the SAF's Services and Formations implement safety policies and assess the strength and prevalence of the safety culture. Would MINDEF provide an update on the SAF IGO's audit findings and the training safety measures that have been introduced in response to its findings? Technology and Training Safety”
“Chairman, climate change poses an existential threat to all humanity. The related crises arising from climate change have deep implications for international peace and stability. Singapore is one of the more vulnerable nations due to the rising sea level. We are already experiencing erratic weather patterns which wreak havoc with sudden downpours causing flooding. Changes in weather patterns are also affecting food supplies – a frightening prospect, as we rely heavily on imported food; exporting nations will prioritise their own nations’ needs first. While Singapore may be limited in how we can contribute to global climate action, we should spare no effort as we have a strong moral obligation and duty. Would the Ministry share an update on its measures to improve environmental sustainability and reduce carbon emissions within SAF and MINDEF? I urge the Ministry to continue with its systematic and comprehensive approach to sustainability, from reducing food waste to trying out green aviation fuel for RSAF’s fighter jets. I look forward to hearing more about its green initiatives, improved processes and enhanced inspections to prevent wastage, particularly for food and electricity.”
“Chairman, the COVID-19 pandemic has caused huge disruptions. Our SAF training has probably been one of the more heavily impacted since limited aspects of Army training can be done remotely or online. In the early phase of the pandemic, Basic Military Training and National Service (NS) call-ups had to be suspended for a while. Some overseas training and exercises were affected due to travel restrictions as well. Last year, MINDEF spoke about the resumption of some overseas training and large-scale exercises, after implementing stringent testing and safe management measures. I am glad that despite some disruptions, the SAF's training did not grind to a halt and that all parties managed to find ways to proceed with some exercises. The external threats to our nation do not diminish during pandemics. Hence, neither should our defence preparations and training. What is happening in Europe now is a stark reminder that security threats are not pandemic-proof. As Singapore is moving forward with our calibrated approach towards resumption of most activities, I feel that we are in a better position now than we were earlier in the pandemic, as a significant proportion of our population now is vaccinated. In addition, our people are much more familiar with how to interact with one another safely, despite the sustained presence of the virus in our community. Hence, would MINDEF share an update on SAF's training at home and abroad? Which parts of our training have returned to pre-COVID-19 levels? NS Training amidst COVID-19”
“(In English): The least we can do for them is to ensure that they have representation via unions and are treated fairly, in another words, with the full rights and entitlements of employees. Finally, I would like to speak on the topic of carbon taxes. With the changes in carbon taxes, companies will face increasing pressure to transform. However, the cost of transformation will ultimately be passed on to the consumers and lead to higher costs of living. With inflation and logistics challenges due to the pandemic, ordinary families will face financial pressures. SMEs will also face challenges dealing with the higher carbon taxes. Singapore is the first or the only Southeast Asian country to introduce a carbon tax. While I support our efforts to go green, both figuratively and literally, I am very worried about the impact on our middle- and lower-income families and the competitiveness of our local SMEs. I hope the Government will assist them more over the transition period. With this, I would like to conclude with my support for the Budget.”
“As independent service providers, they are not employees and thus are not entitled to employee rights such as sick leave, mandatory leave, CPF contributions, medical expenses, so on and so forth. Therefore, although they have flexibility and autonomy, the fact is that they have limited bargaining power and will find it hard to earn a sustaining wage if they do not work full-time. While many platform workers are young and work part-time, now, the number of full-timers are also significant. As a gauge, consider in 2018, 8% to 10% of Singapore's resident workforce was self-employed or they did full-time independent work. It is time for us to review their work conditions and consider if we should amend legislation to require platform companies to treat the full-time platform worker as employees as well as to allow them to form unions to protect their rights, including fair and timely payment. Presently, they are prone to exploitation and have very little say on how much they get paid – they are price takers – and in order to make a decent living, which include the incentive pay, which comes with completing certain assigned jobs, they have to work long hours to reach their target wages. Due to low barriers of entry, the jobs are attractive to those who have difficulty finding other jobs due to low levels of education, lack of skillsets or credentials, or other reasons, such as a prior criminal record. While they provide a much needed and in-demand service, they are in dead-end jobs with no prospect of progression. Mr Speaker, Sir, in Malay, please. (In Malay): [Please refer to Vernacular Speech.] To residents of Chua Chu Kang, and platform workers, my fellow Members of Parliament and I will help you get fair wages and rights.”
“Both the youths and employers would need customised training and support to make sure that the work arrangements can be sustained. Would the Government please provide more funds and support to incentivise companies to be more inclusive? I would also like to ask for more funding to support IHLs to develop Continuing Education and Training modules with input from sector leaders and companies. Such an ecosystem will facilitate the development of updated training programmes, which are relevant and in demand by industries. An excellent example of a multi-parties' involvement for training is Google's Skills Ignition SG programme, a partnership between Google, EDB, IMDA and SkillsFuture. The programme involves online vocational and on-the-job learning with local and global host companies. Indeed, a tripartite approach is the most promising one to ensure timely and relevant curriculum development and good matches to place the trained participants. In recent years, there has been a sharp increase in the number of platform workers. We need to rethink our approach to supporting their welfare. A key factor contributing to the gig economy's expansion was the improvement of digital technology. This facilitated the matching of workers to tasks. However, the relationship between these technology companies and assigned workers is unequal and heavily weighed in favour of the firms, which have access to the data, customers and a wide pool of non-union, unorganised workers. The tech companies have no obligation to the independent workers, which mostly include private hire drivers and food delivery couriers.”
“We should encourage youths to go beyond their compulsory school internships today and embark on additional ones if possible. Internships should also benefit companies as opportunities to spot potential talents and employees. We need to change our employers’ attitude towards interns and internships as temporary exercises. Internships should be taken seriously as part of a firm’s long-term human resource management. If our youths have positive experiences, we may be able to address the problem of local manpower shortage for certain vocations and industries. A promising approach is to get the employers, unemployed youths and the IHLs to come together to develop a work-study experience. It can be an apprenticeship plus internship programme or a conversion programme where they learn before commencing work. This method had proven quite effective for Work-Study Diplomas, a mid-career switch conversion programme. However, the process to develop and approve new courses can take some time. To expedite, the Government, through MOM or NTUC, can take the lead and drive each sector's development in this area. Would the Government also consider providing funds to help unemployed graduates as union members? As members, they are entitled to the equivalent of student passes so that they can get further job placements or skills training. It is also important to support ITE students and youths-in-transition from school to the workplace and provide programmes to build up their experiences through internship opportunities. For certain sectors, due to limited internship opportunities, they get some exposure through school projects but this is not the same as work experience. Special needs youths need help to secure internship opportunities too.”
“How can we increase accessibility to mentorship opportunities and provide better internship and career placement support to them? In the latest survey conducted by Young NTUC, youths and young adults ranked mentorship opportunities the second most useful in terms of career-related resources but they also noted that they have little access to them. In 2020 and 2021, when physical events were curtailed, Young NTUC organised virtual career mentoring sessions. I understand that about 1,200 youths took part. There was a high demand. Hence, I urge the Government to provide more funding to organisations, such as Young NTUC, that run mentorship programmes to support the recruitment and training of mentors and ensure their quality. Better internship and career placement support is also important. I would like to request for more Government incentives to encourage companies to provide internship opportunities for our youths. Funding is needed for allowance subsidies and to support various components of an internship programme, such as the training of company supervisors. I also hope that the Government will consider giving incentives to spur sectoral tripartite cooperation to build a more systemic approach in curating internship and placement opportunities. Creating an internship of quality requires input and cooperation among the Institutes of Higher Learning (IHLs), employers and Government agencies. Companies need more help to design good internship programmes that enable the students to gain work experience, make meaningful contributions and gain insights of the industry. These should help the students gain clarity on their career options and make informed postgraduate choices.”
“Mr Speaker, Sir, I declare that I am the Adviser to the Union of ITE Training Staff on a pro bono basis. I am heartened that the Finance Minister is committed to making more investments in our people and social infrastructure to strengthen our social compact. Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] In our rapidly ageing country, each of our youths becomes even more precious. The Government and the community should invest in and develop our youths, especially those coming from disadvantaged families, and help them grow and learn in a healthy way. Youths nurtured with care will grow up to be successful and contribute to our country. The Government should allocate more resources to help disadvantaged families to help minimise the adverse impact of family problems on teenagers. When families are struggling, the Government needs to step in quickly to prevent their situation from deteriorating further. A stitch in time saves nine! Many youth problems, such as school absenteeism, delinquency and addictions, can be prevented if we intervene early to nip the problems in the bud. (In English): Will the Government elaborate on how we will strengthen our framework to identify families in crisis more quickly? I applaud the scaling up of the ComLink initiative nationwide to 21 towns. I hope there will be a teenage version of Comlink. How can we hire, retain and train more family support counsellors to help vulnerable families navigate the assistance schemes available to them? All youths benefit from caring role models, guidance and advice for their studies and future careers. For disadvantaged youths, these are even more vital in order for them to get out of the poverty cycle.”
“Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] With the sharp increase in online fraud cases amidst the COVID-19 pandemic which has led to most institutions to minimise in-person transactions, will the Singapore Police Force step up collaboration and education efforts with SG Digital Office and the Silver Generation Office to reach out to and assist seniors, such as increasing its presence in the heartlands by setting up more SG Digital Community Hubs and sending out more Silver Generation Ambassadors to visit seniors at home? Many grandmas and grandpas are unable to understand how ScamShield works.”
“The technicalities of getting us there – adjusting specific marginal tax rates, executing efficient expenditures and ensuring a balanced budget – these should then fall back into the laps of professionals in MOF. Turning back to the Bill in question, I am left to wonder whether there are specific conditions that should be fulfilled, such as when the matter is explicitly technical in nature and when normative decision-making would not be asked for or required before the Minister would then allow for such delegation. And what mechanisms are there in place to ensure that both de facto as well as de jure ownership of decisions remain with the respective Minister?”
“Bureaucrats, in contrast, are guided more by careerist ambitions; if they excel, they can improve their chances for professional advancement, or prospects in the private sector after they exit the Public Service. This divergence between accountability structures and, in turn, behavioural outcomes, means that policy may actually be more optimally executed by one group or the other, depending on the nature of the task at hand. In particular, research has suggested that complex tasks – premised on ability rather than effort – are better performed when delegated to bureaucrats. Politicians, conversely, are preferable if flexibility over our understanding of society's preferences is important, and this is especially so when there is a need to compensate potential losers arising from any associated policy reform. Let me put this into more concrete terms using two examples. The first has to do with monetary policy, which is rather topical, in light of our nation's recent challenges with high inflation. The simple framework I have described suggests that the inflation target – say, keeping core inflation just under 2% per annum – should be chosen by politicians, while the more technically challenging task of choosing the appropriate interest rate, size of balance sheet and the specific exchange rate level would fall under the ambit of our central bankers within the Monetary Authority of Singapore. As another example, consider efforts to address income and wealth inequality. Here, my argument is that it should fall on elected representatives to determine how much inequality society can tolerate, which redistributive goals would be fair and just, and what types of taxes we should accommodate.”
“Would these follow the model for existing programmes, such as NEA's Energy Efficiency Fund or BCA's Green Mark Incentive Scheme, via Budget line items, or will there be a more dedicated development fund that is established for this purpose? Sir, the second point I wish to touch on is how delegation could give rise to a loss of ownership and responsibility. More specifically, the danger I perceive is that after roles are transferred, the sense of responsibility unforturnately fails to follow. This gives rise to the risk – common even among large private-sector organisations – and what this means for public agencies and functionaries could be a loss of ownership and control. Of course, I understand that the Minister retains full and final de jure responsibility over any vested powers. Even so, as humans, it is often easy, too easy perhaps, for this buck to be passed. The last thing we want is a situation where one party appeals to the so-called Richard Nixon defence, where they did not do anything, since it was executed by an underling and they were unaware, while the other claims the Nuremberg defence, famously presented by Adolf Eichmann and his collaborators in justifying their actions during World War II, which is that they were ordered and they did not have any agency in the matter. Moreover, it would not surprise anyone in this House that politicians and bureaucrats are held accountable in a different manner: the former by voters during election time and the latter by their peers and colleagues or the public at large. As a consequence, the two face rather different incentives. Politicians are often motivated by the service to the voters that they represent, which in turn influence their re-election prospects.”
“Indeed, in my speech for the Motion on Transition to a Low Carbon Society last month, I had suggested that Government agencies should look for opportunities to weave green elements into their capital expenditure projects. Providing analogous tax breaks for the private sector when they do so is entirely consistent with such a whole-of-society effort to address the climate emergency and I am heartened that such efforts are being weaved into our existing legislation. But if I may say, we should not only look at the tax instrument to effect favourable shifts in corporate behaviour. Subsidies must surely play a part too. And the effects of such positive incentives are even further amplified when they are simultaneously financed by taxes to discourage emissions-generating activity. In their contributions to the Motion last month, my friends in this House spoke about various ways subsidies can be applied to enhance both the economic and political palatability of the green transition. The Member for Aljunied, Mr Gerald Giam, spoke about putting in place incentives for households to install solar generation capacity in their private homes by subsidising such installation before recovering the cost of the subsidies from the excess electricity produced by these homes. In a similar spirit, the Member for Hougang, Mr Dennis Tan, reiterated how carbon taxes could be channelled to ensure a just transition, especially among lower-income households and workers who may be displaced by moves toward a more environmentally sustainable economy. In the context of moving beyond tax breaks, I, therefore, wish to ask how the Government plans to continue its financing of economic incentives for firms that adopt environmentally sustainable initiatives.”
“I also urge the Government to provide greater certainty for investments on space use, which is particularly necessary to catalyse the transformation of our urban farming and aquaculture sector. The COVID-19 pandemic has highlighted the vulnerabilities of global trade. We cannot be dependent on other countries' policies and export limitations, particularly for essentials such as food. With this imminent urgency, it is our inescapable duty to every generation of our people to increase our local production ─ it is a heavy responsibility for the long haul. How is the Government helping our industries to build up capabilities and capacities to achieve the "30 by 30" goal? (In English): I would like to conclude with my support for the Bill. 2.13 pm Assoc Prof Jamus Jerome Lim (Sengkang): Mr Speaker, the proposed amendments to the Economic Expansion Incentives (Relief from Income Tax) Act currently tabled are almost entirely of an operational nature. The bulk of the amendments concerns two elements: clause 2 inserts a new section that will allow the Minister to vest, unto a public body, functions or powers afforded by the Act to the Minister. Clauses 3 and 4, then introduce new definitions of greenhouse gas into the Act's tax incentive schemes, which aligns with this Government's Green Plan as well as the amendments to the Environmental Protection and Management Act, passed last year in this House. I do not oppose the Bill, but I will offer two additional points for consideration, consistent with both of these primary modifications. The Workers' Party sees little that is objectionable to providing stronger incentives to businesses for incorporating emissions-reducing projects into their capital expenditure plans.”
“Mr Speaker, Sir, I would like to comment on the amendment to expand the scope for the Investment Allowance for Energy Efficiency (IA-EE) tax incentive scheme to include projects which reduce greenhouse gas emissions with effect from 1 April 2021 and to extend the validity period of the scheme from 31 March 2021 to 31 December 2026. Instead of granting approval to a company in respect of a project for improving energy efficiency for just this period, would the Ministry consider extending it to 31 December 2030, so as to be aligned with the Singapore Green Plan 2030? How will the Government direct its R&D funding to achieve Singapore Green Plan outcomes? High upfront capital costs, long pay-back periods and the uncertainty of long-term investments are major challenges facing companies, especially SMEs, seeking to reduce greenhouse gas emissions. This amendment will definitely help reduce the barriers and encourage more green investments. I hope that in the upcoming Budget, there will be more such incentives announced, so that we can look forward to another set of similar amendments a year from now. I am certain that the resultant investments will contribute to Singapore's economy, advance our capabilities and create good jobs for Singaporeans. I appeal for additional support for SMEs to develop their sustainability capabilities and improve their energy efficiency, for example, ESG's Enterprise Sustainability Programme and NEA's Energy Efficiency Technology Centre. Mr Speaker, Sir, in Mandarin. (In Mandarin): [Please refer to Vernacular Speech.] We need new incentives for both pioneer industries and pioneer service firms to provide investors more certainty of a long-term tax incentive in Singapore so that we boost energy efficiency and also achieve our "30 by 30" goal.”