The Progress Singapore Party (PSP) proposed a COE credit system to make car ownership more equitable. The system would distribute credits to Singapore citizens and permanent residents based on factors like age, number of children, and disability. Senior Minister of State for Transport Amy Khor responded that while well-intentioned, the proposal is unlikely to be effective in practice.
The proposed system would use “ COE credits” instead of cash for bidding, with more credits given to those with a greater need to own a vehicle.
Senior citizens above the retirement age could get an additional 100 credits, and those who have mobility impairments, such as those who qualify for Class 1 or Class 2 car park labels for the disabled, could get an additional 200 credits. “Under this system, unavoidably, those who are financially better off would still be better able to acquire a COE, although it is ameliorated to some extent by distributing COE credits based on needs factors,” said Ms Poa.
The net effect would be that the people who would be able to acquire COEs would still be those who were willing and able to pay for them, she said. Dr Khor said that this “system of transfer” is something that the current system already achieves “at the macro level”. This is in line with what PSP had suggested in 2023, but at that time, then Transport Minister S Iswaran said that high COE prices were not explained by multiple-car-owning households.
SINGAPORE COE Progress Singapore Party Transport Equity
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