DECARBONISING GOVERNMENT’S INVESTMENT HOLDINGS AND REDUCING GOVERNMENT’S EXPOSURE TO CLIMATE-RELATED FINANCIAL RISKS

Ms He Ting Ru asked the Deputy Prime Minister and Minister for Finance in the wake of the European Central Bank’s latest announcements of measures to decarbonise its corporate bond holdings and to reduce exposure to climate-related financial risks, whether there will be similar moves to be made by MAS and Government’s investment entities to do theContinue reading “DECARBONISING GOVERNMENT’S INVESTMENT HOLDINGS AND REDUCING GOVERNMENT’S EXPOSURE TO CLIMATE-RELATED FINANCIAL RISKS”

SUSTAINABILITY CRITERIA APPLIED TO INFRASTRUCTURE PROJECTS UNDER SINGAPORE GREEN BOND FRAMEWORK

Ms He Ting Ru asked the Deputy Prime Minister and Minister for Finance with regard to the first issue under the Singapore Green Bond Framework (a) how will concerns be addressed about using proceeds to fund expenditures of the Cross Island Line, given the environmental issues raised about the construction of the line; and (b) what areContinue reading “SUSTAINABILITY CRITERIA APPLIED TO INFRASTRUCTURE PROJECTS UNDER SINGAPORE GREEN BOND FRAMEWORK”

TAX TREATMENT OF FULL-TIME NATIONAL SERVICEMAN ALLOWANCES

Mr Leon Perera asked the Deputy Prime Minister and Minister for Finance (a) what is the number of full-time National Servicemen (NSF) whose parents qualify for tax relief stemming from child caretaking duties, such as the Qualifying Child Relief (QCR) or Working Mother Child Relief (WMCR) in the past five years; (b) what is the rationale behindContinue reading “TAX TREATMENT OF FULL-TIME NATIONAL SERVICEMAN ALLOWANCES”

ANNUAL SUBVENTION GRANT TO TOWN COUNCILS WITH RAISING OF GST IN 2023 AND 2024

Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance whether Town Councils will be provided with increased annual GST subvention grant when GST is raised in 2023 and 2024. Mr Lawrence Wong: The Government will provide funding to Town Councils to absorb the additional GST payable on Service and Conservancy Charges. This wasContinue reading “ANNUAL SUBVENTION GRANT TO TOWN COUNCILS WITH RAISING OF GST IN 2023 AND 2024”

PROPOSAL TO DEFER GST INCREASE GIVEN INCREASED TAX COLLECTION IN FY2021/2022 AND BELOW-INFLATION INCOME GROWTH

Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance in light of the recent study by DBS which found that income growth has not kept pace with inflation, and the sharp increase in tax receipts for the past financial year, whether the Ministry has considered (i) postponing the need to raise GSTContinue reading “PROPOSAL TO DEFER GST INCREASE GIVEN INCREASED TAX COLLECTION IN FY2021/2022 AND BELOW-INFLATION INCOME GROWTH”

OPERATING REVENUE, EXPENDITURES AND OVERALL SURPLUS OR DEFICIT OF CURRENT GOVERNMENT

Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance (a) what is the current Government’s FY2022 to-date operating revenue, operating expenditure, development expenditure and the primary surplus/deficit respectively; (b) how do these figures compare with the budgeted figures; and (c) how much is the overall FY2022 fiscal position expected to differ fromContinue reading “OPERATING REVENUE, EXPENDITURES AND OVERALL SURPLUS OR DEFICIT OF CURRENT GOVERNMENT”

STUDIES ON INTERGENERATIONAL INCOME MOBILITY IN SINGAPORE

Mr Leon Perera asked the Deputy Prime Minister and Minister for Finance following the Ministry’s 2012 and 2015 papers on Intergenerational Income Mobility in Singapore (a) whether similar studies have been carried out yielding data for recent years; (b) whether such studies will be expanded to include mobility in health, wealth and opportunities; and (c) whether thereContinue reading “STUDIES ON INTERGENERATIONAL INCOME MOBILITY IN SINGAPORE”

ASSESSMENT WHETHER GOVERNMENTS’ PERIOD CONTRACTS AND FRAMEWORK AGREEMENTS FAVOUR LARGE COMPANIES OFFERING FULL SET OF SERVICES

Mr Gerald Giam Yean Song asked the Deputy Prime Minister and Minister for Finance whether Whole-of-Government Period Contracts and Framework Agreements favour large multinational companies that can offer the full set of services in tender requirements at the expense of local small and medium enterprises and independent contractors who may potentially offer a smaller set of theContinue reading “ASSESSMENT WHETHER GOVERNMENTS’ PERIOD CONTRACTS AND FRAMEWORK AGREEMENTS FAVOUR LARGE COMPANIES OFFERING FULL SET OF SERVICES”

STEPS TAKEN ACROSS AGENCIES TO MINIMISE REPEATED LAPSES IN CONTRACT VARIATIONS AND STAR RATE ITEMS

Mr Gerald Giam Yean Song asked the Deputy Prime Minister and Minister for Finance with regard to the Report of the Auditor-General for FY 2021/22 and in view of repeated lapses across various agencies concerning contract variations and star rate items (a) what steps have the Ministries taken in previous years to minimise such lapses; (b) whetherContinue reading “STEPS TAKEN ACROSS AGENCIES TO MINIMISE REPEATED LAPSES IN CONTRACT VARIATIONS AND STAR RATE ITEMS”

IMPACT OF RISING INFLATION ON PLANNED GST INCREASE AND RELATED FINANCIAL OFFSET MEASURES

Mr Pritam Singh (Aljunied): Sir, I have two questions for the Minister for Finance. First, an article in The Business Times in May this year, citing Singapore’s Department of Statistics data, confirmed that the Government’s tax collections for fiscal year 2021 was $74.76 billion, a 10.5%-increase compared to the pre-COVID-19 fiscal year 2019, of about $67Continue reading “IMPACT OF RISING INFLATION ON PLANNED GST INCREASE AND RELATED FINANCIAL OFFSET MEASURES”