Motion: Louis Chua on an economy of the future that works for all
Maximising revenues from land and buildings should no longer be a primary consideration of Singapore’s land policy. Land should be awarded on the quality and value of what is built, not simply to whoever bids the most. Workers’ Party MP Louis Chua said this in parliament on Wednesday (Aug 5). He also called for a public rental option for young and middle-income Singaporeans with tenure, security and rents set with reference to income rather than market value. If Singapore wants a generation of innovators and founders, it must “stop shackling them to mortgages in their 20s and 30s”, he said. Finally, he noted that in the AI age, “compute is to value creation what land was to the industrial economy”. He suggested a national compute programme, offering subsidised allocated capacity to local companies and particularly small- and medium-sized enterprises and entrepreneurs.
Maximising revenues from land and buildings should no longer be a primary consideration of Singapore’s land policy. Land should be awarded on the quality and value of what is built, not simply to whoever bids the most. Workers’ Party MP Louis Chua said this in parliament on Wednesday (Aug 5). He also called for a public rental option for young and middle-income Singaporeans with tenure, security and rents set with reference to income rather than market value. If Singapore wants a generation of innovators and founders, it must “stop shackling them to mortgages in their 20s and 30s”, he said. Finally, he noted that in the AI age, “compute is to value creation what land was to the industrial economy”. He suggested a national compute programme, offering subsidised allocated capacity to local companies and particularly small- and medium-sized enterprises and entrepreneurs.
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