Channel NewsAsia 25 Feb 08;
SINGAPORE: The government should provide more green incentives to encourage businesses and individuals to adopt environmentally-friendly practices.
This call was made by the MP for Bukit Panjang, Dr Teo Ho Pin, in Parliament on Monday.
Dr Teo suggested that the incentives target three key areas - transportation, building and construction, and energy efficient products.
Noting there are currently only 1,000 hybrid and 500 Compressed Natural Gas (CNG) cars in Singapore, he said it is evident that the 'green' vehicle rebate has failed to persuade car owners to go green.
But more incentives, or tax rebates on vehicle registration fee and road tax of 'green' vehicles could help.
Dr Teo also noted that the take-up rate for the Green Mark Building Scheme has been slow, as only 100 buildings built after 2005 have been certified ‘green’.
To address this, he recommended a Green Property Tax rebate for Green Mark buildings, and to expand the scheme to include buildings undergoing renovation.
On the issue of energy efficient products, Dr Teo suggested tax and import duty rebates for such appliances to encourage consumers to purchase them.
And to inculcate a green culture among youths, he called for government grants to incorporate green technology and practices at the upcoming Youth Olympic Games Village. - CNA/vm
Budget Shorts
Straits Times 26 Feb 08;
HOW TO HELP 'GREEN' PUSH?
MORE INCENTIVES NEEDED, SAY MPs
THE Budget should have been more 'green', said some MPs yesterday.
Nominated MP Gautam Banerjee was among those who said the Budget lacked environmentally friendly, or 'green' tax incentives. He said Finance Minister Tharman Shanmugaratnam had 'missed an opportunity to provide fiscal incentives for eco-friendly business measures'.
To address this, Mr Banerjee suggested setting up a national fund to promote and finance 'green' initiatives, with tax deductions given to donors. He also suggested that the Government zero-rate goods and services tax (GST) for companies that buy energy-saving devices.
Dr Teo Ho Pin (Bukit Panjang) echoed his views, suggesting that tax incentives be given to companies to construct more eco-friendly buildings and install 'green' fixtures.
For individuals, Dr Teo pointed out that energy-saving appliances such as air-conditioners or refrigerators are not popular among consumers as they tend to be more expensive. To counter this, he advocated tax and import duty rebates on such appliances to make their prices more competitive with regular products.
Dr Teo also asked for more attractive rebates on the purchase of hybrid, clean energy cars.
CALL TO BROADEN R&D TAX REBATES
MEMBERS of Parliament yesterday lauded the Government's new tax schemes to spur research and development (R&D) efforts by Singapore businesses.
But they also called for a clearer and broader definition of such incentives.
Ms Penny Low (Pasir Ris-Punggol GRC) asked Finance Minister Tharman Shanmugaratnam to clarify what constituted innovation, and whether it was just restricted to the for-profit world.
Nominated MP Gautam Banerjee noted that the current definition of R&D was rather 'restrictive'. In effect, it generally applies to 'only companies that employ teams of technicians and scientists in white coats, such as pharmaceutical or oil companies, to carry on R&D'.
But small and medium-size enterprises (SMEs) which have less formal ways of churning out innovative solutions may not qualify for the tax rebates. Food and beverage makers and service companies which come up with processes to enhance quality and productivity could also miss out, said Mr Banerjee.
He called for the use of a more 'liberal approach' to offer R&D rebates to such companies, in line with Singapore's more broad-based and increasingly knowledge-intensive economy.
MP'S IDEA: REVERSE MEDISHIELD PREMIUMS SO THE OLDER PAY LESS
THE premiums for MediShield, the national health insurance plan, should be reversed - so that people pay more when they are younger and working, and less in their later years, suggested Madam Cynthia Phua (Aljunied GRC).
It would overcome the problem of rising premiums as a person gets older, she said yesterday in Parliament.
For example, the amount ranged from $160 for those aged between 51 and 60, to $600 for those aged 80, with further increments due every two years.
Madam Phua also proposed that a portion of a younger person's premium goes into an investment fund to generate income to pay for the higher premium rates when the insured gets older.
