Committee of Supply 2023 debate, Day 5: Saktiandi Supaat on high motorcycle COE premiums
Demand for motorcycles has remained persistently strong, resulting in soaring COE premiums. In Parliament on Thursday (Mar 2), MP Saktiandi Supaat called for measures to address this problem. He asked if the bid deposit, which was raised from S$200 to S$800 last March, may need to be increased again - possibly as high as S$2,000. The validity of a secured COE, which was previously halved to three months, could also be shortened again. Mr Saktiandi asked if there is room for a calibrated marginal increase in motorcycle COE quotas, whether by creation or reallocation from other categories, since motorcycles do not take up as much traffic space as cars. He said motorcycle COE supply must remain adequate and affordable, given their value to delivery services and low-income Singaporeans who may rely on them to earn a living.
Demand for motorcycles has remained persistently strong, resulting in soaring COE premiums. In Parliament on Thursday (Mar 2), MP Saktiandi Supaat called for measures to address this problem. He asked if the bid deposit, which was raised from S$200 to S$800 last March, may need to be increased again - possibly as high as S$2,000. The validity of a secured COE, which was previously halved to three months, could also be shortened again. Mr Saktiandi asked if there is room for a calibrated marginal increase in motorcycle COE quotas, whether by creation or reallocation from other categories, since motorcycles do not take up as much traffic space as cars. He said motorcycle COE supply must remain adequate and affordable, given their value to delivery services and low-income Singaporeans who may rely on them to earn a living.
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