Mark Chay on Carbon Pricing (Amendment) Bill
The proposed amendments to the Carbon Pricing Act are a "positive step in the right direction", said NMP Mark Chay. Speaking in Parliament on Tuesday (Nov 8), he noted that the changes make Singapore a leader in Asia in carbon prices. He wanted to know what this would mean to companies and Singapore's competitiveness as a destination to set up operations. He also wanted to know how the additional revenue collected would be used. He suggested allocating some of it to research and development programmes related to green energy and sustainability, or education programmes to prepare companies for carbon tax reporting. Mr Chay also raised concerns over the impact of the increase in carbon prices on daily living costs and wanted to know how the Government will ensure that energy prices remain stable.
The proposed amendments to the Carbon Pricing Act are a "positive step in the right direction", said NMP Mark Chay. Speaking in Parliament on Tuesday (Nov 8), he noted that the changes make Singapore a leader in Asia in carbon prices. He wanted to know what this would mean to companies and Singapore's competitiveness as a destination to set up operations. He also wanted to know how the additional revenue collected would be used. He suggested allocating some of it to research and development programmes related to green energy and sustainability, or education programmes to prepare companies for carbon tax reporting. Mr Chay also raised concerns over the impact of the increase in carbon prices on daily living costs and wanted to know how the Government will ensure that energy prices remain stable.
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