Liang Eng Hwa
Singapore
“Sir, in Mandarin, please. (In Mandarin): [Please refer to Vernacular Speech.] I would like to thank IMDA for its flexibility in allowing the filming of "Dear You" in the Teochew dialect, and for approving additional screenings to meet public demand.”
“Thank you, Mr Speaker. Sir, we hope that there will be peaceful resolution to the Middle East conflict soon and that the Strait of Hormuz will be fully open.”
“Sir, I believe the political office holders have not replied or responded to my cut on traffic congestion, so can I perhaps ask the Minister, whether is it because he disagrees with me that the traffic congestion has worsened or that there is no non-pricing solutions to traffic congestion, which I had asked for.”
“Sir, Minister Chee, in his speech mentioned that this year we will be launching 19,600 new BTO flats. So, I would like to ask, how he sees the trajectory in the next two, three years.”
“Also, flexible work arrangements, through inter-agency coordination, could also help flatten peak demand. Sir, road pricing remains important, of course, but it must be a multi-pronged approach to manage congestions. And all these suggestions that I have made, I hope would also help to reduce congestions.”
“Thank you, Speaker. Sir, there are Singaporeans who felt strongly that the founding Prime Minister Mr Lee Kuan Yew's original wish to have the house demolished should be respected. It is not just because this is his personal wish but also the values that he espouse, which is not to have personal monuments.”
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“Beyond transport connectivity, it has the potential to strengthen regional competitiveness, enhance economic resilience and support long-term urban and economic development on both sides of the Causeway. I therefore encourage the Government to continue engaging its Malaysian counterpart on this issue, including through the Leaders' Retreat and other bilateral platforms. Even if the implementation is not imminent, it is worthwhile to keep the dialogue active, keep exploring innovative financing and operating models, and remain prepared should the opportunity arise to realise a project that delivers mutual benefits for both Singapore and Malaysia. Sir, in closing, with the rapid emergence of powerful digital technologies, Singapore has a significant opportunity to raise its game, reimagining how we organise our systems, services and industries, while reinforcing the competitive advantages that have underpinned our success. Realising this potential may require us to rethink legacy arrangements, redesign established operating models and embed new technologies more deeply across the economy. Done well, these changes can improve economic competitiveness, strengthen sustainability and enhance our resilience in an increasingly uncertain world. I support the Motion.”
“First, it would deepen economic integration between Singapore and Malaysia by strengthening connectivity between Southeast Asia's two leading business centres, facilitating business travel and encouraging greater cross-border trade and investment. Second, it would promote more balanced regional development. Intermediate cities such as Melaka, Muar and Batu Pahat stood to benefit from increased investment, tourism and business activity arising from improved accessibility. Similarly for Singapore, the project would also have catalysed urban redevelopment. For example, the planned terminus at Jurong East was envisaged as a key anchor for the development of the Jurong Lake District as our second Central Business District. Third, the HSR would encourage a shift away from road and air travel. A reliable 90-minute rail journey would offer an attractive alternative to short-haul flights, easing congestion at airports or on highways while supporting both countries' sustainability objectives. While Malaysia explored the possibility of reviving the HSR in 2023 under a different delivery model, no decision has since been reached. The Singapore Government has consistently maintained that it remains open to future discussions should Malaysia bring forward a commercially viable proposal that serves the interests of both countries. Of course, the challenges that led to the project's cancellation remain significant. These include the substantial capital costs, questions surrounding financing and ownership structures, cross-border governance arrangements, commercial risk allocation and the need for sustained political commitment from both sides. Nevertheless, the long-term strategic case for the HSR remains strong.”
“Sir, the future is not merely about EVs but an integrated transport system in which vehicles, charging infrastructure, grid capacity and logistics operations communicate and mutually reinforce each another. Mr Deputy Speaker, let me move on to the next topic that is also another manifestation of electrification of transport but unfortunately did not get to proceed. It is a pity that the Singapore-Kuala Lumpur High Speed Rail (HSR) did not go ahead in January 2021, after many years of feasibility studies, planning and negotiations. Both Singapore and Malaysia announced the joint development of the HSR in February 2013 and subsequently signed a legally binding Bilateral Agreement in December 2016, establishing the governance framework for what would have been Southeast Asia's most transformative infrastructure projects. The HSR would have provided a compelling new mode of travel between Singapore and Kuala Lumpur, reducing journey times from more than four hours by road to approximately 90 minutes, with trains operating at speeds of up to 320 kilometres per hour. Had the project proceeded as originally planned, services would have commenced by the end of this year. At about 350 kilometres in distance between Singapore and Kuala Lumpur, this is a sweet spot for high-speed rail, where it is widely considered to be “too far to drive conveniently and too short to fly”. And that is why HSR at this range in other places has captured massive market share in outperforming air travel in terms of total door-to-door travel time. The strategic merits of the project remain compelling.”
“Public buses provide the clearest example of how fleet electrification can scale when vehicle procurement, charging infrastructure and operational planning are coordinated. Singapore is working towards a cleaner-energy public bus fleet by 2040, with electric buses expected to make up around half of the fleet by 2030. The near-term opportunity is therefore clear, and the medium-term test is whether Singapore can create the conditions for broader adoption among logistics operators, construction firms, waste-management companies and other heavy-duty fleet owners. Sir, may I make three suggestions here? First, we should ensure that fleet operators, particularly small and medium-sized enterprises, can access attractive financing and leasing options for electric commercial vehicles. Second, we should continue to facilitate charging infrastructure at industrial estates, logistics facilities, depots and designated heavy-vehicle parking areas. The availability of electricity connections, charging equipment and operational space will be just as important as the vehicle purchase incentive itself. Agencies such as LTA, JTC and the Energy Market Authority and the private sector should continue to work closely to identify priority locations where commercial fleet charging demand is likely to emerge first. Third, we should leverage digital technologies to improve fleet utilisation. Smart charging systems, route optimisation, predictive maintenance and energy-management software can help fleet operators reduce downtime and manage electricity costs more effectively. This is where electrification and digitalisation come together.”
“However, the transition will not be uniform across all vehicle segments. For private cars and light commercial vehicles, the economics are improving quickly. In 2014, EVs accounted for about one-third of new car registrations, while roughly half of the new light goods vehicle registrations were electric. The more difficult challenge lies in heavy vehicles. Heavy goods vehicles, construction vehicles, coaches, waste-management fleets and other commercial vehicles operate differently from private cars. They travel longer distances, carry heavier loads, face tighter operating schedules and often require reliable charging at depots rather than at public carparks. This is why the Government's recent heavy-vehicle measures are important. From January 2026, the Heavy Vehicle Zero Emissions Scheme provides a $40,000 incentive for each newly registered zero-tailpipe-emissions heavy goods vehicle or bus above 3.5 tonnes. The Electric Heavy Vehicle Charger Grant also co-funds up to 50% of charger installation costs, capped at $30,000 per charger for the first 500 chargers. These chargers must be deployed at designated lorry or coach lots, or at the vehicle owner's place of business. These are sensible interventions because the barrier to heavy-vehicle electrification is not simply the vehicle purchase price. It is the entire operating ecosystem: depot space, electrical capacity, charging downtime, route scheduling, fleet financing and residual-value risk. For smaller commercial vehicles, the transition is already more advanced. The Commercial Vehicle Emissions Scheme support electric light commercial vehicles, while higher-emission diesel vehicles face increasing surcharges.”
“Mr Deputy Speaker, I thank Ms Tin Pei Ling and the Members for this important Motion, and also for giving me the opportunity to raise a couple of topics related to the future development of transport in Singapore. Let me first commend the Government on the various key policy moves to electrify Singapore's transport system, especially land transport. The transition towards electrified mobility is one of the defining shifts in transport today. It is driven by climate imperatives, rapid technological progress, improving vehicle economics and the need for greater energy efficiency. Electric vehicles (EVs) use energy more efficiently than internal combustion engines and their wider adoption can help Singapore reduce emissions, improve local air quality and build a more sustainable transport system. The Government's approach has been comprehensive – reducing upfront ownership costs, building charging infrastructure ahead of demand, introducing appropriate standards and regulations, and progressively transitioning public transport and commercial fleets. The policy direction is clear. From 2030, all new car and taxi registrations will be cleaner-energy models, supporting Singapore's broader goal for all vehicles to run on cleaner energy by 2040. The Government is also working towards deploying 60,000 charging points island-wide by 2030. As of March 2026, around 30,500 charging points had already been deployed, indicating that progress is being made at scale. The growing take-up of EVs demonstrates that the policy framework is beginning to work. Consumers now have a broader selection of EV models across price points, while the rapid expansion of charging infrastructure is reducing range anxiety, making EV ownership more practical for households.”
“Sir, in Mandarin, please. (In Mandarin): [Please refer to Vernacular Speech.] I would like to thank IMDA for its flexibility in allowing the filming of "Dear You" in the Teochew dialect, and for approving additional screenings to meet public demand. The film's reception reflects a genuine desire among many Singaporeans to connect with their cultural heritage through dialect movies. I am, therefore, very glad to hear that the Government intends to continue with this approach. I would like to ask a further question: will IMDA consider adopting a more open and transparent approach when it comes to dialect films going forward?”
“Thank you, Mr Speaker. Sir, we hope that there will be peaceful resolution to the Middle East conflict soon and that the Strait of Hormuz will be fully open. Notwithstanding, as the Minister has said before on several occasions, even if the conflict is over, the damage it has cost, especially to the oil and gas infrastructure, will have long-lasting impact to the world economy. Can I further ask the Minister if he sees, as a result of the war, permanent or structural changes to the related industries that will affect the business-as-usual (BAU) scenario, and that will affect investments in specific sectors within our economy and hence, job opportunities? Also, on the reserves, whether the crisis, although it poses risks and challenges to us, whether the Minister also sees new opportunities created as a result of the crisis and worthy of us investing into it or doubling down, for example, in our oil refinery capacity, our position as an oil trading hub or even in the energy transition?”
“Thank you, Mr Speaker. Sir, this has been a long-standing concern raised by Members in many Sittings, even in previous terms. And the Government's holding position has always been that the Government has no business intruding or regulating the behaviour within the private homes. I hope after all these years of raising these concerns, the Government is now ready to move on that position, be it just incremental steps. So, my first question to the Senior Minister of State is whether we would be prepared to classify second-hand smoking coming from windows and balconies of homes affecting neighbours as public nuisance and therefore, it will come under the powers, the purview of the Environmental Public Health Act. As in the previous Parliamentary Question, seniors, children or family members who are allergic to second-hand smoke, to them, it poses serious health hazard and significantly impact their well-being. So, that is my first question. My second question is, in terms of public messaging, can the Government step up and to more clearly say that smoking at windows and balconies are undesirable neighbourliness behaviours? Because when I look at the Housing and Development Board (HDB) handbook about being good neighbours, this is not an item that is mentioned there. Other things are there, littering and all these things, but second-hand smoke from balconies and windows are not there. Would the Ministry want to push on that? Because we do not get a lot of publicity on that, except for when Parliamentary Questions are asked.”
“Sir, my questions relate to the sharp spike in the diesel prices. Diesel prices are now north of $4 per litre, even more expensive than petrol, very unusual phenomenon, and it is severely impacting many of the transport, logistical business, construction business sectors as well. So, can I ask the Minister if he can share about why this phenomenon of diesel is being more expensive than petrol? The Minister earlier shared that the Government's gencos can actually switch from gas to diesel. So, is that the reason why diesel has gone up because of the Government procurement of diesel? More importantly, what can the Government do to help businesses that depend on diesel, which is a low cost fuel for the businesses to do their deliveries, including construction sectors. So, I am particularly happy that the Acting Minister Jeffrey Siow has just said about this construction sector, for the critical public sector projects, we will be co-sharing the cost increases for diesel. So, how can we enable or incentivise our other businesses to do that to help companies that are impacted by the cost increases of diesel?”
“Sir, I believe the political office holders have not replied or responded to my cut on traffic congestion, so can I perhaps ask the Minister, whether is it because he disagrees with me that the traffic congestion has worsened or that there is no non-pricing solutions to traffic congestion, which I had asked for. So, can I ask the Minister to consider again what I have raised in the cuts, which is that can we optimise the traffic light system, something that many countries have done; and how we can make it more responsive. It could be a really a good high-value AI-use case. And then, the second suggestion, I mentioned about how we can have more expeditious clearing of vehicles during accidents. It is not really a high infrastructure item, something that can be managed, can be done. You just need to have the policy in place to say, "You got to clear the traffic within a certain time and there must be enough tow vehicles", and so on. So, I hope the Minister can give me a more encouraging response.”
“Also, flexible work arrangements, through inter-agency coordination, could also help flatten peak demand. Sir, road pricing remains important, of course, but it must be a multi-pronged approach to manage congestions. And all these suggestions that I have made, I hope would also help to reduce congestions. I look forward to the Ministry's reply, outlining fresh and forward-looking non-pricing strategies to manage congestion. Shared Responsibility for Road Safety”
“On average, about 69,000 Malaysian-registered motorcycles enter Singapore daily in 2025, with quite a significant number issued with traffic offences, about 22,000 of them, and some involved in accidents, about 1,600, based on a Parliamentary Question that I filed recently. While these riders contribute to our economy, concentrated peak-hour inflows have been causing congestions along corridors, such as the Bukit Timah Expressway and Pan-Island Expressway. Can I ask if the Ministry have conducted studies on the impact of cross-border motorcycles on traffic flows and are there targeted traffic management measures to manage peak in-flows? Fifth, smarter traffic light management. Motorists often encounter red lights even when cross-direction traffic appears light or if there are no vehicles travelling. While adaptive systems are in place, signal timings do not seem to be responsive or smart. So, can we move towards more advanced AI-based signal optimisation? Some of the suggestions include, integrate real-time GPS data from vehicles and buses, use predictive modelling to anticipate build-ups before they occur and implement corridor-wide synchronisation to create smoother "green waves"? A more dynamic and predictive system could reduce stop-start traffic and improve traffic throughput. Some cities are already using fairly advanced computing technologies, such as quantum technologies, to enhance traffic management. Is the Ministry looking into that as well? Sixth, on data transparency and behavioural measures. In addition to physical and technological interventions, behavioural nudges may help. Providing more granular, real-time congestion data integrated into navigation platforms may encourage voluntary route changes or staggered departures.”
“And are there plans for additional multi-level interchanges at heavily congested junctions? Beyond capacity expansions, small but targeted engineering refinements can yield significant gains – improved slip-road geometry, better lane merging designs and additional turning lanes at bottlenecks. Sir, incremental improvements at key traffic choke points can produce disproportionate benefits. Second, smarter management of commercial vehicle movements. The growth of e-commerce has increased delivery traffic substantially. Logistics vans, service vehicles and contractor trucks contribute to daytime congestions. Can we encourage off-peak delivery windows in dense commercial districts? And can we also expand urban consolidation centres to reduce duplicate trips, or promote shared last-mile distribution hubs to improve logistical efficiency? Third, faster incident detection and clearance. Minor accidents often trigger cascading congestion, especially on expressways. The speed of detection and clearance is critical. Can we station more rapid-response tow units along major corridors to expeditiously clear stalled vehicles? During accidents, many motorists still have this old belief that vehicles should not be moved until the Police arrive. In today's context, with in-car cameras and mobile devices readily available, this is often unnecessary. Instead, we should consider requiring drivers in minor, non-injury accidents to clear the carriageway within a fixed timeframe after documenting the incident, for example, just in 10 minutes, and with enforcement actions for unreasonable delays. Sir, we need to reduce accident clearance time and, believe me, it will significantly ease traffic congestion there. Fourth, cross-border motorcycle flows.”
“Sir, traffic congestion in Singapore has visibly worsened. It is no longer confined to peak hours or the Central Business District. Heavy traffic is now common even on weekends, along arterial roads and across our expressway network. Road accidents and ongoing works further compound delays, affecting not just motorists but also bus commuters and private-hire passengers. Sir, I must admit that I hesitated to file this cut, out of concern that the default response from the Ministry might be to just raise Electronic Road Pricing (ERP) pricings or to expand ERP. So, I hope that this is not the response later. Road pricing has been effective in managing demand, but it raises business and household costs, and it cannot be our only lever. I therefore urge the Ministry not to look to non-pricing approaches as well to manage congestions. Sir, despite our zero-vehicle growth policy, congestion pressures persist. With over a million vehicles on our small island, higher vehicle utilisation appears to be one of the root cause for the congestions. The growth of private-hire services and delivery platforms has intensified road usage. As car ownership becomes more expensive, owners understandably want to maximise usage of their cars, because of sunk costs. Given these structural trends, we should explore complementary solutions. Firstly, engineering and infrastructure enhancements. Sir, the double-decker road along Keppel Road has shown how vertical expansion can increase capacity. Compared to underground tunnels, such solutions may be more cost-efficient and faster to implement. With limited land for widening, vertical expansion may be our most feasible option in certain corridors. So, does the Ministry have plans to develop more double-tier road systems in congestion-prone areas?”
“Sir, Minister Chee, in his speech mentioned that this year we will be launching 19,600 new BTO flats. So, I would like to ask, how he sees the trajectory in the next two, three years. Whether in the next two, three years, are we able to meet the peak demands for the BTO flats, mindful that family formations are much lower than that number? So, whether that trajectory is going to still be there. My second clarification is on LUP. In the remaining 100 blocks, I am sure there are some blocks where some stacks of the blocks are technically very challenging to do, but another stack could be doable, is feasible to do. Will HDB look at LUP for some blocks on a partial basis? At least some blocks get to be served with lift access, rather than just because one stack cannot be done, the whole block cannot get the lift upgrading. 3.00 pm”
“So, could I ask the Minister to share more details on the scope, the scale and the implementation timeline of HIP II? Voluntary Early Redevelopment Scheme”
“These cumulative pressures inevitably impact Town Councils' finances and, in turn, will have a bearing on the service and conservancy charges (S&CC) paid by residents. The Government has been providing substantial support, about $240 million annually, through grants, such as the S&CC Operating Grant, the Lift Maintenance Grant and the Lift Replacement Fund Matching Grant. In 2023, MND also introduced a time-limited special funding to help cushion cost increases and moderate S&CC adjustments. That support was very helpful, but it has since expired. So, on behalf of the People's Action Party (PAP) Town Councils, I thank MND and HDB for this significant support. Without which, S&CC would have been higher. But notwithstanding that, I would still like to appeal for further review of the funding framework. First, because given that the cost increases arising from the Progressive Wage Model and regulatory changes are structural rather than cyclical, will MND consider reviewing the baseline quantum of S&CC Operating Grant to reflect new cost realities? Second, can MND study whether additional support can be provided for estates with a higher proportion of ageing blocks, where maintenance intensity is clearly higher? Third, regarding the Progressive Wage Credit Scheme, can MND provide clarity on the long-term cost-sharing model and whether transitional funding will be available? Chairman, Town Councils are committed to maintaining clean, safe and well-managed estates. Residents rightly expect high standards, but S&CC must also remain affordable, especially for lower- and middle-income households. Sir, before I end, can I also ask the Minister something that he spoke about last August, about HIP II? He mentioned that HIP II would be more extensive.”
“In the coming years, more flats will cross the 30-year mark. With ageing estates come higher maintenance demands, not just more frequent repairs, but more complex and costly rectification works. Town Councils are facing sustained cost pressures on multiple fronts. First, municipal contract costs have risen sharply. Tender prices for conservancy services have increased significantly. In one recent renewal, bids were up to 86% higher than the previous contract. Contractors have cited higher labour costs from the Progressive Wage Model, higher foreign worker accommodation costs and tighter operating conditions. Other essential services have also seen steep increases. For example, pest control costs for crows, pigeons and rodents have trended upwards. Horticulture contracts have risen by as much as 60% and seepage repair costs by up to 32%. Sir, these are not discretionary works. They are core services necessary to keep estates safe, clean and liveable. Second, beyond the rising cost trend, ageing infrastructure also requires heavier intervention. While programmes by MND, such as the HIP and Neighbourhood Renewal Programme, have been extremely helpful, the bulk of day-to-day estate maintenance remains the responsibility of Town Councils. Works, such as external wall seepage repairs, lift maintenance and upgrading, re-roofing, external rewiring, replacement of lighting systems and structural and façade rectification, are becoming more frequent and more intensive. Town Councils are also concerned about the long-term maintenance implications of the Pneumatic Waste Conveyance System. While there was initial subsidy support, this is not intended to be permanent. So, over time, operating and maintenance costs will have to be absorbed within Town Council's budgets.”
“Community Care Apartments are an important innovation in public housing. They integrate senior-friendly design with care services, communal spaces and emergency response systems. Demand has been encouraging and many seniors appreciate the combination of independence and support. In Bukit Panjang, we are seeing growing interest among seniors who wish to right-size from larger flats while remaining near their children and social networks. Many value the familiar environment and established amenities. So, may I ask the Minister: what is the projected supply of Community Care Apartments over the next five years? How does MND assess demand across different towns and how quickly can supply be ramped up, if take-up remains strong? Will future Community Care Apartments explore more flexible care packages to cater to seniors with differing levels of needs? As our population ages, housing policy must evolve alongside healthcare and community care systems. The goal should be to create neighbourhoods where seniors can transition seamlessly across stages of ageing – from independent living, to supported living, to higher levels of care – without needing to uproot themselves from their familiar surroundings. In this regard, the integration of Age Well Neighbourhoods and Community Care Apartments presents a holistic model. One strengthens the broader environment; the other provides targeted housing solutions. Together, they can anchor a comprehensive ecosystem for ageing-in-place. I look forward to the Minister's responses. 12.15 pm Upkeeping of Ageing Estate and Home Improvement Programme II Sir, I wish to declare my interest as the Coordinating Chairman for the PAP Town Councils. Even as we continue building new BTO flats, a growing proportion of our HDB stock is ageing.”
“Sir, Singapore will be a "super-aged" country this year. The key challenge before us is not simply longevity, but quality of life, ensuring that our seniors can age well, age with active social life and healthy living within their own communities. The Prime Minister announced the "Aged Well Neighbourhoods" at last year's National Day Rally to support seniors who prefers to age at home, where there are high senior populations. The aim is to enable seniors to age with dignity within their communities, offering services like home fixes, health checks, social activities while staying integrated, not isolated. Features, such as barrier-free access, therapeutic gardens, senior-friendly wayfinding, fitness corners with low-impact equipment and co-location of health and social services are meaningful improvements. I welcome MND's plans to redesign our older estates so that seniors can age comfortably in place and to remain active and socially connected. Toa Payoh will be among the first town to have Age Well Neighbourhood and I look forward to Minister sharing the broader implementation plan across the island. Can I also ask the Minister to share how is MND working with the Ministry of Health and the Ministry of Social and Family Development (MSF) to integrate community care, active ageing centres and primary care services within these neighbourhoods? Beyond physical infrastructure, ageing-in-place also depends on social infrastructure. Seniors who remain socially connected tend to enjoy better health outcomes. I hope MND can elaborate on how town design will facilitate inter-generational interactions, for example, through shared community spaces, programming nodes and proximity to childcare centres or schools. Second, on Community Care Apartments.”
“Sir, the global contestation among major powers has intensified. We are witnessing tit-for-tat trade tariffs, export controls and increasingly troubling strategic posturing. The geopolitical temperature is rising. Countries in our region are understandably concerned, carefully evaluating their options in a more unsettled and uncertain landscape. In this new multipolar world, ASEAN must navigate carefully and manage major power competition without becoming an arena for proxy rivalry. Sir, ASEAN's continued relevance cannot be taken for granted. It must be earned. First, ASEAN must preserve unity and centrality. ASEAN has always been most effective when member states act collectively. If we allow divisions to widen, ASEAN's voice will weaken and external powers will shape the regional agenda instead. Second, ASEAN must remain economically integrated and outward-looking. In a world of fragmentation and protectionism, ASEAN can position itself as a stable and attractive production base. Strengthening intra-ASEAN trade, supply chain connectivity and digital integration will reinforce our relevance. Third, ASEAN must continue to anchor an inclusive regional architecture. Platforms such as the ASEAN Regional Forum and East Asia Summit remain important channels for dialogue, confidence-building and crisis management. Even when major powers disagree, ASEAN can provide neutral convening space. As a founding member of ASEAN, our strategic space is closely tied to ASEAN's cohesion and credibility. A strong and united ASEAN enlarges Singapore's diplomatic and economic space. A divided ASEAN narrows it. Under this setting, can I ask MFA how can ASEAN ensure continued relevance and what are the implications for Singapore?”
“In that regard, I would like to hear MFA’s latest take on the evolving post-world order and what are the implications for Singapore? Geopolitical Tension”
“Sir, the post-Cold War order that many of us grew up with is fading before our eyes. For more than three decades after the Cold War, the world operated under a relatively stable framework underwritten by the leadership of the US. Global trade expanded. Multilateral institutions such as the UN and WTO provided rules and processes. Small states like Singapore could rely on a system where law mattered more than raw power. Today, that order is fracturing. We see the rise of multipolarity, sharper strategic rivalry, fragmentation of supply chains, and weakening confidence in multilateral institutions. Trade, technology and finance are increasingly instruments of geopolitical competition. Sir, for Singapore, this is not an academic debate. It concerns our survivability. First, on security. As a small state in a strategic region, we must expect greater pressure as major powers compete. Our approach must remain clear and consistent: we do not choose sides, but we choose principles. We uphold international law, freedom of navigation and ASEAN centrality. At the same time, we must continue to invest in a strong and credible SAF and Home Team to deter aggression and safeguard our sovereignty. Second, on the economy. Our trade is multiple times our gross domestic product (GDP). Any fragmentation of global trade, decoupling of technology standards, or disruption of supply chains will directly impact our growth and jobs. Third, on multilateralism. A rules-based order protects small states. If power politics prevails, small states suffer first. Singapore must continue to champion open markets, plurilateral agreements, and cooperation among like-minded countries.”
“Our strong fiscal position put us in good stead to confront emerging risks, seize new opportunities, safeguard Singapore's continued progress for generations to come. Sir, I support the Budget. [Applause.]”
“So, it is worth reminding Members again that in our unique construct, a substantial portion of our GST revenue, approximately 60% is borne by higher-income earners or foreigners, foreign visitors who are here, whether to attend a convention or to attend Formula One. These are the ones who pay the main bulk, the 60%. And the remaining 40%, which is contributed by the broader base of the lower- to middle-income households, is mitigated through the permanent GST Voucher Scheme and related offsets. Taken together, the lower- and the middle-income families effectively pays a GST rate that is 7% or below. So, I ask myself why would we not want to tax more from the rich or the foreigners who are here to spend more, and then use the financial resources to distribute it to the lower- and the middle-income households. Sir, in closing, I am encouraged that in recent Budgets, the Prime Minister has directed significant measures towards strengthening our social compact and in addressing inequality alongside efforts to reinforce our economic resilience and national security. It is precisely because we remained in the position of physical strength that we are able to allocate meaningful resources across these three pillars: social development, economic growth and security in support of our long-term nation building. Prudent stewardship over the years has provided the Government with the capacity not only to respond to immediate challenges but also to invest strategically in our collective future. While we operate in an increasingly complex and uncertain global environment, I am confident that the renewed leadership team possesses both the resolve and capability to navigate what lies ahead.”
“We are already observing higher tender prices on the ground from, for example, cleaning contractors, because they have to price in the higher wages for their low-wage workers, and that is putting pressure on the Service and Conservancy Charges as well. So, greater transitional support would ease these adjustments for businesses to pay low-wage workers better salaries. Thirdly, I will hope that the Government can also provide enhanced grants for the upkeep of ageing estates, including problems that we face frequently for older towns – repairs for water seepages and structural deteriorations. I also hope that the Government can provide higher subsidies for flats that are still without lift access. There is something like 100 blocks of flats that are still without lift access and I hope the Ministry of National Development can look at that as well. And thirdly, to have expanded grants for barrier-free accessibility improvements – something that is much needed in older estates. Sir, as our housing stocks mature, proactive maintenance support would increasingly be needed to upkeep the estate and to sustain quality liveability. Mr Speaker, Sir, I have listened to a couple of speeches from the Members of the Workers' Party and the point about linking GST to Budget surpluses were raised again. That is not a fully accurate picture. As I have outlined earlier, while the increase in GST has added to our revenue, the bulk of the surplus comes from increase in corporate income tax, as well as the capitalisation item and the increase in NIRC.”
“And it is projected to rise to $37.8 billion in FY2026, an increase of roughly one-third over three years, driven by stronger-than-expected growth and the implementation of the BEPS Pillar 2 top-up taxes. And of course, the other taxes like personal income tax, GST and vehicle-related revenue also increased. According to MOF's 2023 Occasional Paper, Government expenditure is projected to reach 19% to 20% of GDP between FY2026 and FY2030, and may exceed 20% by 2030. Meanwhile, the total revenue including NIRC is approaching 20% of GDP in FY2025. Given that corporate income tax revenue is expected to remain elevated, I would like to seek clarification from the Prime Minister and the Minister of Finance whether we are likely to see continued high surpluses for the remainder of this five-year term or should we expect greater volatility going forward? Sir, while fiscal prudence is essential, sustained surpluses provide room to ease cost pressure where necessary. And here I want to propose three areas for consideration. Firstly, my favourite topic, the public transport subsidies. I will hope that the Government can consider additional median-term top-ups to public transport subsidies, beyond the baseline annual $2 billion to moderate fare increases. In the two previous Budgets, the Government provided additional subsidies of $250 million and $200 million respectively. This continued calibrated support would help households manage cost of living pressures. Secondly, I hope that the Government can also increase medium-term co-funding support under the Progressive Wage Credit Scheme to help businesses manage raising rising wage costs associated with the uplifting of the low-wage workers.”
“Sir, in an increasingly fragmented global economy where trade relationships now come under scrutiny, persistent trade surpluses may invite pressures. Increasingly, countries expect quick brokerage on trade and investments, and a balanced trade relationship. Supporting companies to invest abroad while maintaining a strong core in Singapore, helps to mitigate such risk and enhances our overall economic resilience. Sir, turning to the second topic: budget surplus. As the Budget debate is about financial policy of the Government, the elephant in the room question is of course how is it that despite rising expenditures over the years, Singapore recorded significant surplus of $15.1 billion in FY2025, with a projected $8.5 billion surplus in FY2026? What contributed to the $15.1 billion dollar surpluses for FY2025? Essentially, three major components, in my view. Similar to last Budget, there is a $5 billion capitalisation of the nationally significant infrastructure, which in essence is a non-cash item and will need to be depreciated over the lifespan of the infrastructure. Not to mention, there is also the interest cost because this involved borrowing which needs to be serviced. The second component comes from the significant increase in the Net Investment Returns Contribution (NIRC) – a hefty $3.4 billion from FY2024. Being investment returns, it can of course be subjected to the vagaries of the markets. And the third component, the remaining $6.7 billion of the $15.1 billion surplus, comes from the increase in tax revenue, primarily the corporate income tax. Of course, there is also the personal income tax, GST and vehicle premiums. Corporate income tax rose from $30.1 billion from FY2024 to $35.2 billion in FY2025 – the revised figures.”
“Next, trade associations and chambers, such as SBF, the Association of Small and Medium Enterprises, the Singapore Chinese Chamber of Commerce and Industry, play a critical role in supporting SMEs overseas. It makes sense for Singapore companies to internationalise collectively where feasible. Sharing market intelligence, pooling resources, learning from each other can shorten the learning curves and reduce costly missteps. Larger Singapore firms with established overseas network can act as queen bees, anchoring smaller companies with their ecosystem. We have seen that in retail malls, industrial parks and integrated developments, but led by major Singapore players. Banks, healthcare groups, investment holding companies could seemingly play a catalytic role. In this regard, the Market Readiness Assistance scheme could be further enhanced to provide higher support for consortium-based applications and recognition could be given to firms that play anchor roles overseas. Finally, internationalisation must be built on a strong home base. As in previous Budgets, Budget 2026 continued to provide a whole set of support measures, including supporting building leadership in key clusters, strengthening our enterprise ecosystem productivity enhancements. Companies also require sound financials, strong balance sheets and access to growth capital when they internationalise. Overseas expansions carry significant risks and often demand patient capital. So, I welcome the $1.5 billion Anchor Fund and $1.5 billion Financial Sector Development Fund announced in Budget 2026. These initiatives will strengthen enterprise financing and support risk-sharing investments.”
“So, in Chinese, this alignment may be described as "天时地利人和"; that is, favourable timing, geographical proximity and strong relationship. The question is: can this success be replicated elsewhere? Well, we must strive to replicate this success in other markets. It is neither prudent nor sustainable to rely excessively on a single external market for growth. And there have been pockets of success in other markets like India, Vietnam, Malaysia and Indonesia, although these have not reached the scale achieved in China. The Government can help identify and signal markets with strong long-term potential, particularly those where Singapore enjoys strong bilateral ties. And beyond China, the Government has encouraged expansion into India, Vietnam, Indonesia and more recently, emerging markets in Latin America and Africa. The establishment of new embassies support this diversification strategy. The Government is also pushing for businesses to consider stepping up at the Singapore-Johore Special Economic Zone, which is a natural and logical move, given our proximity, our familiarity, as well as our complementarity. Singapore now has 28 implemental FTAs, including multilateral agreements, such as the ASEAN FTA, the Regional Comprehensive Economic Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. We have also signed digital economy agreements, green economy agreements, as well as the investments agreements. I suggest that government-to-government engagement be extended further to regulator-to-regulator platforms. Such dialogues could help align regulatory frameworks to reduce market entry barriers and facilitate licensing approvals in regulated industries. And this will be helpful to significantly ease market assessors for our companies.”
“There are also the key flagship government-to-government projects that further anchors relationship, including the Singapore-Suzhou Industrial Park, Sino-Singapore Tianjin Eco-City, China-Singapore (Chongqing) initiatives. And there are also regular high-level engagements, such as the annual Joint Council for Bilateral Cooperation meetings and the various Provincial Ministerial platforms that continually review and expand areas of cooperations. Indeed, many meaningful commercial opportunities have emerged from these engagements. In the most recent Joint Council for Bilateral Cooperation meeting, Singapore's role as the major offshore renminbi clearing centre is further enhanced. The bilateral relationship between Singapore and China was often described in official communication as "all round, high-quality, future-oriented partnership". "全方位、高质量、 前瞻性、 伙伴关系". It sounds a mouthful, but it reflects the shared commitment and willingness to continually explore new areas of cooperation. And this special relationship has provided is supportive environment for Singapore companies operating in China. Secondly, I suppose is our bilingual and bicultural advantage. Singapore's bilingual and bicultural strengths provide a natural edge, the ability to communicate effectively and understand cultural nuances, build trust and facilitates businesses. At the same time, Singapore is regarded in China as a trusted and well-governed business partner known for strong institutions and strong governance standards. Thirdly, it is the timing. Our companies internationalised into China during a period of market liberalisation and rapid economic reform. China then was both growth hungry and capital hungry and Singapore businesses were well-positioned to ride on that wave for expansion.”
“Mr Speaker, I will speak on internationalisation and Budget surplus. With a small and mature domestic market, Singapore companies seeking sustained growth must look beyond our shores. External markets are essential, not only for revenue expansions but also for diversification and resilience. Encouraging and supporting enterprises to internationalise has long been a cornerstone of Singapore's economic strategic. Successive economic reviews and budgets have consistently emphasised overseas expansions as one of the key growth drivers. Over the years, many Singapore companies have ventured abroad, both regionally and globally. And one market where our companies have internationalised particularly successively is China. Despite our small domestic economy, Singapore has, for several years, been China's largest foreign investors. Today, iconic brands, such as Raffles City, Breadtalk, Charles and Keith, Jumbo Seafood, TWG Tea and others, operate extensively in China. In Shanghai alone, there are approximately 4,000 Singapore companies there. China is also one of Singapore's top markets, particularly for electronics, machinery and related equipment. Why has Singapore companies been successful in China? There are several factors that explain this. Firstly, credit to the Government, it is the strong government-to-government relationships. Over decades, bilateral ties between Singapore and China have deepened and expanded significantly. We have a comprehensive China-Singapore Free Trade Agreement (CSFTA) which allows the majority of our export to China to enter tariff-free. Importantly, the CSFTA is not static. It has been reviewed and upgraded periodically to remain relevant.”
“Thank you, Sir. Let me first declare my interest as I work in an entity significantly owned by Temasek. There are two questions for the Acting Minister. Firstly, we know that Temasek and GIC do compete with the fast growing global sovereign wealth funds, the global funds, such as the pension funds, the wealth houses and so on – chasing for limited good investment grade targets, which may ultimately impact their returns, because there is competition for all these investments. So, can I ask the Acting Minister, whether the Ministry of Finance sees investing more of our Reserves into the local infrastructures that comes with commercial returns, as another way to deploy our growing Reserves? My second question is related to what the Acting Minister has said in his reply on Temasek. There are two parts. One portfolio is the local companies that they hold. For strategic reasons, we want to hold these companies. And the other one is the international portfolio, which actually comes with different management investment skills. And as such, we will have to assess for their difference in performance. For example, the holding company for the strategic companies that we hold, like Singapore Airlines or PSA and so on, we would not expect Temasek to actively trade this portfolio or choose levels to buy and sell; whereas the international portfolio, there are some investment decisions to be made there, and how they charge the market, how they perform; we want to assess that. So, can I ask that Acting Minister, whether in terms of evaluating the performance of Temasek, would the Ministry consider carving out that local portfolio, that we hold for strategic reasons, to measure the performance separately from the portfolio that is invested internationally?”
“Thank you, Speaker. Sir, there are Singaporeans who felt strongly that the founding Prime Minister Mr Lee Kuan Yew's original wish to have the house demolished should be respected. It is not just because this is his personal wish but also the values that he espouse, which is not to have personal monuments. So, my first question to the Minister is whether the Government has taken this aspect into consideration in coming to the decision? Secondly, it relates to the Founders' Memorial which is now being built. Can I ask the Minister would the Founders' Memorial be able to encapsulate the historical and national significance of our founding values and ideals, without having to preserve 38 Oxley Road? And thirdly, in the light of NHB's recommendation and MCCY's decision, can I ask the Minister if he can update if there has been any change in the Government's policy position with regard to preserving and creating National Monuments?”
“Thank you, Sir. My concern is more about how we can continue to attract investments, especially pharmaceutical investments into Singapore with this announcement. So, can I ask the Minister of State whether MTI or the Economic Development Board (EDB) see that to have an impact on how we attract new investments, whether it is from existing companies or from new companies? And secondly, how would that also impact our aspiration to be the R&D centre for drugs and vaccines discovery, whether that that will impact that aspiration as well.”
“Sir, in this regard, I would like to revisit a suggestion that I made a couple years ago, which is to increase the Fair Consideration Framework job advertisement period for EPs, from 14 days to 28 days, to allow for sufficient time for companies to consider all candidates fairly. Sir, I do understand that, at the end of the day, job search is a personal undertaking. The jobseekers must have the adaptive and positive mindset to ride through the job search journey and be well-aware and realistic of the changing market landscape. At the policy level, we must resolve to leave no jobseekers behind and help every Singaporeans who wish to be gainfully employed, find their livelihoods. Sir, in conclusion, I have worked in the financial markets sector for all my career life, very much living and breathing markets. I have seen extreme volatilities in markets, very often to the detriment of economies and societies. And I know too well that markets do misbehave from time to time. It may not always bring us to the right place that we desire and that is why often we see central banks and governments intervene to steer the markets to the right pricing. Similarly, in the areas of cost and employment, the Government should not take our eyes off the market forces that are in play and, where necessary, intervene in the best interest of Singapore and Singaporeans. We must endeavour to keep cost and prices stable for reasons of our economic competitiveness and affordability, and also to do our best to help every jobseeker find the best opportunity so that they can also live fulfilled lives and take care of their families. Sir, I support the Motion. [Applause.]”
“Here, I would just want to focus on one particular impediment and, that is, the jobseekers are not being plugged into the employers' hiring network. Job search platforms and agencies, like MyCareerFutures, e2i, WSG, has done a great job, matching jobs for many Singaporeans. But for matching jobs in more senior position where many mid-career PMET jobseekers are looking for, it can be less effective. In such more senior roles, the hirers tend to depend on their own channels to find the candidates, often by way of HR search firms or by their own internal or external referrals. The companies may still advertise the jobs on public platforms if they are opening their search to include foreign candidates, as part of MOM requirements. So, they do that too. How do we better match jobs, especially for more senior PMET positions? Firstly, we must help jobseekers plug into the job search network by encouraging companies to open up their search beyond the usual network and genuinely work with agencies, like e2i, WSG and NTUC, to source a wider pool of candidates, and as another source of referrals. Secondly, jobs counsellors, besides helping jobseekers with career advice, CVs and interview preparations, can also show the jobseekers how they can put forward the candidacy more effectively and directly to the companies, as well as right set the expectations. Thirdly, HR managers and HR search firms are the critical conduits, and they must be similarly aligned as well in terms of giving candidates that come from outside their network a chance to be interviewed, for example, and to help the company grow the local core.”
“We have agencies, like the Workforce Singapore (WSG), SkillsFuture Singapore and e2i, and now the five CDCs will be also roped in to help with local job matching. We have done much on either side, the demand and the supply. The part that I hope we do better is how we can match the demand to supply, so that we can see more meaningful employment outcomes. Matching jobs remains an arduous task, more so for workers disrupted by technologies or jobs obsolescence. I have come across displaced mid-career PMETs who took more than one year to find the next job. Imagine the stresses and anxieties, as well as the emotional toil and frustrations having to send countless CVs, going for interviews, awaiting outcomes, only to be disappointed again. It saddens me when I see middle-aged PMETs with good work experience, still able, still capable, but having to retire early or to be not meaningfully employed. This is especially so, when now, today, we have our life expectancies, health expectancies are also all increasing. Very often, the skills and experiences that these mid-career PMETs have are actually the skills that the companies are looking for. But, somehow, the match just does not occur. Some of these available jobs are quite general in nature. Some administrative, it could be support roles; some are managerial, which we have no shortage of experienced managers. So, it is not due to the lack of jobs or not lack of skills or experiences, then what are the impediments? I can think of a few. Mismatched expectations; bias, whether is it age or others; inability of the jobseekers to impress the hirers. Singaporeans, some of us may tend to undersell ourselves.”
“I know we do have such similar dispensation of sorts where we set aside office spaces in commercial buildings for non-profit use that are for social and community good. But we should expand this programme. I always thought it would be a great idea for Marina Bay to also have a social enterprise-run hawker centre. That would be helpful to the office workers there who wish to have an affordable meal. Sir, let me now move to my second concern, which is, how do we reduce job-matching friction? In this year’s National Day Rally speech, the Prime Minister mentioned jobs as a main focus. At one juncture, he repeated “jobs, jobs, jobs” three times in succession. Despite Singapore having among the lowest unemployment rate in the world and, in fact, we have to count on foreign labour to fill up many of jobs not taken up by Singaporeans, it is very heartening to hear this from the top-of-the-house leadership. It demonstrates once again that when it comes to unemployment, we set very low thresholds of tolerance and we are determined not to leave any jobseekers behind. And that determination is manifested in the whole gamut of policies and the resources the Government has put in place to create jobs to sustain employability. On the demand side, the priority is to grow the economy. On the supply side, the unrelenting endeavor to equip and upskill Singaporeans to take on job opportunities across life stages, starting in schools, during their career life span and even during their senior years. There are literally countless policies, initiatives and schemes in place to support Singaporeans to stay employed and to be employable.”
“Let us see if this new model works, but I hope that NEA can, in addition, also consider the PQM approach that HDB has adopted. Mr Deputy Speaker, we must be watchful of extreme high bids for retail spaces in the heartland as, in aggregate, it can add more upside cost pressures. Another measure that I hope HDB can consider and look into is to increase the supply of rental spaces in locations where rental bids tend to be high, as the high rental bids may well be due to inadequate retail spaces in high population-density residential town. Prior to the Government's decision to resume building of hawker centres, coffee shops were at one point changing hands in the tens of millions of dollars. But with the hawker centres being built and new supply of retail stalls, we have seen transaction prices of coffeeshops stabilised. So, this is something that if we supply, it can make a difference. I have noticed that in Hong Kong, among the most expensive commercial real estate area, like Central and the Admiralty areas, there will always be side lanes in between the top-grade office properties, where low costs budget retail shops can co-exist. These are the small retail shops when we can find, among the buildings, where you see Hong Kong cafes, or "cha chan teng", selling affordable meal sets, small sundry shops selling low-cost daily grocery items and so on. If the prices or rents of these spaces at these small lanes are to be benchmarked against the valuations of the adjacent premium office buildings, the retail shops would not be able to survive at the affordable prices that they provide. So, perhaps, URA and the Singapore Land Authority can study what administrative measures do the Hong Kong land authority has to allow such dispensation.”
“Such record-high bids, though not the norm, nevertheless, has the effect of setting new reference benchmarks and may influence future would-be bidders to submit higher bids, leading to upside stickiness in pricing. Other private HDB shops landlord may use this new higher benchmark reference to price up when they renew the rental. While we leave it to markets forces to determine prices, we must drill down if such outlier bids are sustainable in business, and the impact to healthcare costs at the neighbourhood. There must also be a so-called price reasonableness assessment. In response to media queries on the high rental bid at Tampines, HDB said that the bid of $52,188 is significantly higher than the average tendered rent of around $9,800 per month for similar-sized clinics rented out by HDB in 2024. And at that rental, $52,000, it is by far the highest per sq ft rent that HDB has received for general practitioner and dental clinics. I am glad that HDB later announced that it will move to the Price Quality Method (PQM) and as was further elaborated by MND's Senior Minister of State Sun Xueling three days ago in the Parliamentary Question reply. Hopefully that will help reduce future occurrences of overly high rental bids. Another case in point is the high rental bid for hawker centres. The National Environment Agency (NEA) received a bid of $10,158 last year in Marine Parade. This is way higher than the $1,800 median successful tender price for cooked food stalls in 2023. Again, this may not be the norm, but it could create upside headroom for rental prices to escalate. NEA has since implemented the new rental model to deter overly high tender bids, where the rental adjustment will be staggered when renewed.”
“If it is not, they would find another dry day to repair on another suspected spot. So, for more difficult and complex seepage situations, the process may go on for a few rounds to the frustrations of residents, who has to bear the inconveniences of multiple appointments and continued seepages. All these would mean costs escalating. Typically, what the contractors would do is to carry out what they call "PU injection", injecting high pressure liquid, polyurethane (PU) chemical, into the suspected cracks in concrete structures hoping that these PUs will plug the gaps and source of the leaks. Sir, these seepage repair contractors are SMEs, they are typically capital-light, they run on very tight cashflows in their business. It would be too much to ask for these companies to invest in costly sophisticated technology to more precisely diagnosed the root causes of seepages, not knowing that they can still win the next contract or next tender. Sir, seepages in older flats is a common wicked problem across HDB estates especially the older flats and I believe the problem requires an industry-wide solution. So, I hope HDB or Building Construction Authority can intervene to find an industry solution. We almost need an Industry Transformation Map of sorts to invest in the research, technology, training so as to improve on the way we can diagnose the source of the seepage. This would help contractors to better able and more accurately repair the seepages in older flats and hence, costing less. Another cause of concern that I would like to raise is the extreme high bids we saw in heartland shop spaces. A case in point is the $52,000 bid for a heartland medical clinic at Tampines.”
“We, therefore, need to look into more supply-side measures to lower our overall cost structure in Singapore, both through administrative means as well as through improving efficiency as an economic system. I will attempt to share some illustrative examples, not exhaustive by any means. Mr Deputy Speaker, ensuring that we have a competitive business ecosystem is one of the Government’s cost management strategies and a sound way to keep costs and prices in check. While we largely leave to the spontaneity of businesses to evolve the ecosystem, it will also require the Government’s hand, from time to time, to curate, monitor and call out unfair market behaviour to protect consumers' interest. Besides the Competition and Consumer Commission of Singapore, the Consumers Association of Singapore and other consumers’ advocacy groups, MPs have also played a part in the past to call out anti-competitive practices. For example, Parliamentary Questions were raised in the past when we saw retail petrol prices lagging on the downside but quicker to rise on the upside. One area where I would like to use this opportunity to raise and to get some attention from the Government is the escalating costs in the building maintenance and repair area. The cost of, for example, repairing seepages in HDB flats has increased significantly. The problem with seepages in buildings is that you cannot really see where the source of leak is with the naked eye. So, there is often some amount of guesswork by the repair contractor. The process usually goes this way. When a seepage is reported during a raining day, the contractor would wait for a dry day to carry out the repair. After the repair, the contractor would wait for the next rainy day to determine if the seepage repair has been effective.”
“Since COVID-19, the global inflation has raised prices, underpinned by higher energy, food and commodity prices, and the effects are being felt though the imports that Singaporeans consume daily. Fortunately, our strong economic and fiscal fundamentals avail us the Singapore dollar as a broad-base tool to mitigate inflation. But there is a limit as to how much the strong Singapore dollar can strengthen without impacting our export competitiveness. So, we do have to count on other supporting measures. At the same time, domestically, we are also in this necessary transition to uplift wages of fellow Singaporeans, especially the lower-wage workers. This has added cost pressures to businesses and some of which show up in the form of higher prices in products and services. Also, we have also seen land costs increasing fairly steeply in recent years as Singapore continues to command premiums as a business destination and also a much sought-after residential home. The Government has introduced a series of property cooling measures like Additional Buyers Stamp Duties, among others. These are all necessary to cool the market. But besides the indirect measures, we would also need both broad-base and targeted direct measures to assist Singaporeans. The Government has enhanced and upsized a series of cost mitigating measures, like the Community Development Council (CDC) vouchers, among others. But we know that such direct assistances cannot be a norm and sometime down the road it has to taper down and wind down, and the pace will depend on the inflationary situation and our fiscal headroom.”
“As a tiny resource-scarce city state, where we import almost everything that we need and where our economy is constantly on an overdrive mode, Singapore is inherently more susceptible to price increases than other economies. It is a circumstance that we have to constantly manage and live with. Like almost every economy in the world, the universal approach is to let market forces determine allocations with the use of price as a way to sort out demand and supply. This is by far the most sensible way and it has worked this way for centuries. However, in Singapore's circumstances, prices tend to be more upside elastic because of our greater scarcity, as we do not readily have excess capacity to just ramp up supply where demand are high to moderate price increases. At the same time, due to our remarkable economic progress over the decades, there is a wider disparity now in purchasing power among our consumers. There are people or businesses who are prepared to pay up a lot more or bid higher than others and some in the range of extreme outliers. We see some of that in the Certificate of Entitlement bidding, where supply is limited and hence, prices is the key determinant to allocate the limited number of certificates. To the Government's credit, there are extensive and comprehensive range of subsidies and policy schemes to keep things affordable for Singaporeans. Among them the core areas that the Government has committed heavy subsidies are housing, healthcare, education, transport and others. These direct subsidies require substantial and continual fiscal resource to fund and, hence, we must be able to keep generating revenue on a sustainable basis to pay for these items.”
“Mr Deputy Speaker, today we live in a changed world, just at the time where the fresh team, led by Prime Minister Lawrence Wong has taken over the leadership of the nation. But I can sense the new resolve to tackle the challenges ahead, come what may, and to keep this miracle of Singapore going. Sir, in the new global landscape, we need a new playbook to grow our economy, which will inevitably come with its disruptions and risks. There will be new stresses and anxieties and Singaporeans will need to adjust and adapt in a fast-changing and more unsettling environment. The Government has committed to supporting Singaporeans to ride through this new "disordered" world. At the same time, we must double down in our efforts to sustain social mobility as well as protecting the vulnerable among us. And through it all, we can build a stronger social compact and a truly "we" mindset. These are among the areas of priorities outlined by the President on behalf of the Government, which I fully support. Much has been said in the last five days and so for my speech today, I would just focus on two sticky perennial issues, which I would like to add my voice to. Firstly, how do we moderate cost increases? Secondly, how do we reduce job matching friction? I raise both these issues, not because I feel that the Government has not done enough but rather these two issues: cost and jobs, are and will be an unending challenge for Singapore and would, therefore, require continued resolves to tackle them. Firstly, on costs. How can we better moderate cost increases in Singapore?”
“Thank you, Sir. Sir, we have been hearing about companies hiring less entry level jobs. So, can I ask the Minister if companies in Singapore are indeed also hiring fewer entry level jobs; and if indeed this is a long-term trend, in addition to GRIT, what other policy measures may be necessary to support fresh graduate employment?”
“Sir, two questions. Firstly, I would like to ask the Minister, in the recent notable cases in the schools, whether the schools or MOE do a postmortem or look-back review to see whether if there were interventions earlier, or could these have been prevented? So, this is the first question. The second question is, whether does MOE also carry out some of these psychological studies or research, to better look out for the kind of profile of students who are likely to bully others and those that are likely to be bullied, so that it can be instructive for the educators on how to look out for indications and signs that bullying could happen?”
“Sir, I thank the Minister for sharing on the technical details of the breakdown of the BPLRT. We are all now too familiar with the inherent technical challenges that the BPLRT system has. We do appreciate that it is operating in a pretty challenging ground terrain in Bukit Panjang. So, in that context, I want to ask the Minister whether LTA will consider adding more buses to run parallel to the BPLRT system, as a way to enhance resiliency and also as a measure to cope with the increasing ridership as the town's population is also increasing.”