Debate on President’s Address: Dennis Tan on COE premiums and ‘just transition’ to green economy

As Singapore debates how it can combat stratification and build a social compact amid the rising cost of living and property prices, it should be wary of the possible social effects of spiralling Certificate of Entitlement (COE) prices, said MP Dennis Tan. Speaking in Parliament on Friday (Apr 21), he raised concerns that those who genuinely need a car may find owning one out of reach. He wanted to know if more can be done to ensure that businesses do not push up the COE premiums to unaffordable levels for those who need vehicles for work and to take care of their children, and elderly and handicapped family members. Turning to efforts to get more people to switch to cleaner energy vehicles, he urged the Government to make the pricing of electric vehicles (EVs) more attractive. This includes providing more assistance to parallel importers to encourage them to focus on getting higher volumes of EVs. He also asked for an update on the Government’s efforts to transform the petrochemical sector in the green transition journey. He also wanted to know how the Government is supporting the “just transition” for workers and companies in the sector.