Minister of State for Transport drops slight hint of revised COE system
05 Feb 2013|5,661 views
She was responding to Jurong GRC MP, Ang Wei Neng, who suggested tagging COE premiums to the OMV (Open Market Value) of a vehicle than the current practice of engine capacity. She responded by commenting the Government was open to COE classifications and urged the member "to be patient".
Mrs Teo added the Government is studying ways to help people who utilise light goods vehicles to run their businesses, as COE prices for commercial vehicles have risen.
In a separate query from Dr Intan Azura Mokhtar from Ang Mo Kio GRC, which involved creating a separate COE category for first time car buyers, the Minister declined the request by responding that the Government will not create a different category as it is hard to determine why a second-time buyer is less deserving than a first-time buyer.
She further explained by citing an example of a household which has an expanded family and are planning to buy a bigger or second car. A COE system which favours first-time buyers would be an advantage to this family.
She also acknowledged the current Vehicle Quota System (VQS) as imperfect but it is an appropriate way to allocate a limited and non-basic resource.
Minister of State for Transport, Mrs Josephine Teo, has mildly hinted a review is underway for the current classification of COE (Certificates of Entitlement) premiums.
She was responding to Jurong GRC MP, Ang Wei Neng, who suggested tagging COE premiums to the OMV (Open Market Value) of a vehicle than the current practice of engine capacity. She responded by commenting the Government was open to COE classifications and urged the member "to be patient".
Mrs Teo added the Government is studying ways to help people who utilise light goods vehicles to run their businesses, as COE prices for commercial vehicles have risen.
In a separate query from Dr Intan Azura Mokhtar from Ang Mo Kio GRC, which involved creating a separate COE category for first time car buyers, the Minister declined the request by responding that the Government will not create a different category as it is hard to determine why a second-time buyer is less deserving than a first-time buyer.
She further explained by citing an example of a household which has an expanded family and are planning to buy a bigger or second car. A COE system which favours first-time buyers would be an advantage to this family.
She also acknowledged the current Vehicle Quota System (VQS) as imperfect but it is an appropriate way to allocate a limited and non-basic resource.
She was responding to Jurong GRC MP, Ang Wei Neng, who suggested tagging COE premiums to the OMV (Open Market Value) of a vehicle than the current practice of engine capacity. She responded by commenting the Government was open to COE classifications and urged the member "to be patient".
Mrs Teo added the Government is studying ways to help people who utilise light goods vehicles to run their businesses, as COE prices for commercial vehicles have risen.
In a separate query from Dr Intan Azura Mokhtar from Ang Mo Kio GRC, which involved creating a separate COE category for first time car buyers, the Minister declined the request by responding that the Government will not create a different category as it is hard to determine why a second-time buyer is less deserving than a first-time buyer.
She further explained by citing an example of a household which has an expanded family and are planning to buy a bigger or second car. A COE system which favours first-time buyers would be an advantage to this family.
She also acknowledged the current Vehicle Quota System (VQS) as imperfect but it is an appropriate way to allocate a limited and non-basic resource.
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