Curbing COE anger/ Shumething from the PAP’s bible

In Political governance on 09/03/2015 at 4:19 am

Since “populism” is no longer a dirty word for the PAP administration (juz look at Tharman’s budget measures that had tai-tai Kate Spate Tin and other PAP MPs upset) here are two more measures that will make ordinary S’poreans happy:

Curbing COE envy while raising $

Not only do anti-PAP cybernuts get worked up with envy of people that can afford CoEs, even usually rational people like P Ravi can go over the top in their grumbling about the unfairness of the COE system: that it favours the rich especially the really filthy rich.

Ferraris are common on the streets of Singapore

Ferraris are common on the streets of Singapore – but the gap between rich and poor is growing. BBC Online

Here’s how to make S’poreans less envious of those with flash cars: Finland’s speeding fines are linked to income, with penalties calculated on daily earnings, meaning high earners get hit with bigger penalties for breaking the law. So, when businessman Reima Kuisla was caught doing 103km/h (64mph) in an area where the speed limit is 80km/h (50mph), authorities turned to his 2013 tax return, the Iltalehti newspaper reports. He earned 6.5m euros (£4.72m) that year, so was told to hand over 54,000 euros.

The premises for the law are pretty solid

— sports cars are expensive toys;

— rich people are more likely to buy sports cars than ordinary people;

— people who drive sports cars are likely to drive over the speed limit;

— the standard fines are “peanuts” for the rich.

We could go further and calculate monetary punishment for motoring offenses, not involving death or injury, on daily earnings, hitting high earners (like ministers, or ex-MPs working as advisers to TLCs) with bigger penalties for breaking the law.

This system of fines is even more necessary to curh COE envy as S’pore is expected to see the world’s largest influx of super-rich individuals over the next 10 years, with 1,752 people joining the ranks of the so-called ultra-high-net-worth individuals (UHNWIs) by 2024, according to a report by property consultancy Knight Frank

 The projected addition to Singapore’s wealth brigade is higher than that of cities such as Hong Kong, New York and London, and will see the number of people with net assets of US$30 million (S$41 million) or more here soar by 54.3 per cent to 4,979 in 2024, said the Wealth Report.
Combine this measure with the u/m and tai- tai tin and friends will quit the PAP. Good riddance to bad rubbish.

Free public tpt

And it’s from the PAP’s sacred text: the Economist

Making buses and subways free … would increase passenger numbers, opening up space on the streets for essential traffic and saving time by reducing road congestion.

In New York, the idea of free buses and subways dates back to at least 1965, when Ted Kheel, a lawyer, first floated the idea—and pushed for a doubling of bridge and tunnel fares to make up for lost revenue. Kheel died in 2010, but the modern version of his plan, which would include a congestion charge for cars and trucks entering the Manhattan business district, lives on. The big push by New York’s mayor, Michael Bloomberg, for congestion-pricing was blocked by the state legislature in April 2008; in 2009 he proposed making cross-town buses free, but that idea has yet to be implemented. It’s worth a second look.


*Member of Parliament for West Coast GRC Mr Arthur Fong has raised concerns over whether the programmes announced during the recent Budget can be sustained.

Speaking in Parliament on Tuesday (Mar 3) during the Budget debate, Mr Fong said the Government must keep a tight hold on the reins as Singapore moves in the direction where more social spending is beginning to feature in its budgets. He said a miscalculation of such spending will be hard to address for future governments.

Member of Parliament for Tanjong Pagar GRC Chia Shi-Lu has said he supports the Silver Support Scheme but is concerned over its long-term sustainability.

Speaking in Parliament on Tuesday (Mar 3) during the debate on the Budget statement, Dr Chia asked if having such a permanent scheme will mean increasing the burden for Singapore – given the ageing population and a shrinking tax base.

MP for Marine Parade GRC Tin Pei Ling said in Parliament on Tuesday (Mar 3) that with Temasek Holdings expected to contribute another S$4 billion to S$5 billion to Government coffers after being included in the Net Investment Returns (NIR) framework, she is concerned that Singaporeans would take the nation’s financial reserves for granted.

Ms Tin also says that there is a need to ensure that Singaporeans do not set unrealistic expectations of what can be drawn from the NIR and end up depleting the reserves.

“We may need to set controls to stop ourselves from making further rule changes, like in 2009 and this year, which enable us to draw more NIR each time we need more revenue to fund new needs.

“We need to explain to Singaporeans that the NIR comes from our reserves which are extraordinary and precious, and should not be taken for granted, and also that the Singapore spirit that has enabled us to build up such levels of reserves is also extraordinary and precious, and we must sustain this spirit.

“I hope that the Finance Minister can give an assurance that we can do all these, even as we increase the NIR to fund our new priorities.”

Ms Tin also questioned if using the financial reserves will result in Singaporeans losing their resilience.

“Studies have shown that countries which have abundant natural resources often do not do well over the long term, because their people do not have to work hard and apply their wits, and gradually lose their vitality and initiative,” said Ms Tin.

“Singapore may not have oil reserves, but we must take care that our financial reserves can also have the same corrupting effect on our drive and resilience.”

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