Committee of Supply 2023 debate, Day 5: Louis Chua on unpegging home loan rates from CPF Ordinary Account rates
In Parliament on Thursday (Mar 2), MP Louis Chia renewed his call to the Government to unpeg the home loan rates from the CPF Ordinary Account rates. He asked if the Ministry of Finance, and in turn the Housing and Development Board and Ministry of National Development, can make the call to segregate the two distinct roles. He pointed out that Singaporeans are “rightly concerned” and asked if the rates can be unpegged so that they do not hold Singaporeans back from the correct decision of providing for mortgage stability and certainty, as well as retirement adequacy.
In Parliament on Thursday (Mar 2), MP Louis Chia renewed his call to the Government to unpeg the home loan rates from the CPF Ordinary Account rates. He asked if the Ministry of Finance, and in turn the Housing and Development Board and Ministry of National Development, can make the call to segregate the two distinct roles. He pointed out that Singaporeans are “rightly concerned” and asked if the rates can be unpegged so that they do not hold Singaporeans back from the correct decision of providing for mortgage stability and certainty, as well as retirement adequacy.
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