Road tax rebates, reducing petrol duties to address rising fuel prices a blunt tool: Jeffrey Siow

On the impact of disrupted helium supplies, Health Minister Ong Ye Kung said that magnetic resonance imaging (MRI) procedures were not affected.

Helium is used in small quantities as a cooling agent in MRI machines, and Singapore’s supply of helium is largely not from the Middle East, he said.

In the semiconductor industry, helium is used mainly in wafer fabrication for heat management, cooling and process stability, said Ms Gan.

Wafer fabrication plants in Singapore have not flagged immediate operational impact so far, she said.

These firms obtain helium from multiple sources and have started to activate more alternative sources, and the ministry will work closely with the industry to monitor their needs, she added.

SUPPORT FOR PLATFORM WORKERS, HAWKERS

Mr Siow noted that full-time taxi drivers and private-hire car drivers have experienced an average increase of S$150 to S$250 in fuel costs. As such, the S$200 cash relief is in the middle of that range.

The National Trades Union Congress (NTUC) and the Land Transport Authority (LTA) have also been in discussions with platform operators to provide support for these drivers, and have given fuel vouchers, he said.

In response to Mr David Hoe’s (PAP-Jurong East–Bukit Batok) clarification on whether the S$200 would be a one-off support, Mr Siow confirmed that it was, but said that the government will watch how things develop and will step in again if necessary.

“But more importantly, if fuel prices continue to remain elevated at this price for a long period of time, actually, the market ought to accommodate it in the form of higher fares, which will then… consumers will have to adjust their behaviors, including consumption,” he said. 

Several MPs also raised concerns about how F&B workers, such as hawkers and canteen stallholders, would be affected by rising prices.

In response to Ms Joan Pereira’s (PAP-Tanjong Pagar) question on whether rental support or utility rebates could be offered, Mr Zaqy said that they are still in a “stable mode” and that the ministry will provide assistance if the need arises.

Senior Minister of State for National Development Sun Xueling added that during the COVID-19 pandemic, the Housing and Development Board (HDB) provided assistance to HDB rental shops through rental waivers.

“We would monitor the situation and if there’s a need for us to sync up what we do with regards to rental costs, to help with how hawkers or coffee shop operators are doing, then we will do so,” she said.

Minister of State for Education Jasmin Lau added that the authorities are monitoring costs for canteen stallholders and are mindful that any increases in utilities or ingredient costs would have to be borne by many students and their families.

She added that they would provide financial assistance to the students who need them the most.

NATIONAL READINESS

Senior Minister of State for Defence Zaqy Mohamad assured that Singapore’s food stockpile is sufficient.

While he could not give additional details due to national security concerns, Mr Zaqy noted that there is no need to activate the stockpiles in the current situation.

The country is also in a better position today, having learnt lessons from COVID-19 and the last energy crisis to be able to diversify food sources, he said.

“While we are not likely to see food disruptions in the short term, we cannot fully insulate ourselves either from increases in food prices as a result of increases such as fertilisers and other food inputs,” he said, adding that he hoped more people would support local farmers.

To conserve more energy, nominated MP Azhar Othman asked whether the government would consider imposing a curb on transportation use, as countries like Malaysia and Indonesia have done.

Dr Tan said while they are contemplating rationing power use, it is “very early days”.

“We don’t want to cause panic because we’re actually stable. We also don’t want to cause panic to investors, to the world economy, to our downstream partner countries, whom we export refined products to,” he said.

However, the government may do an exercise to test out the readiness of the country when it comes to power rationing at some point in time, he said.

In the meantime, the government is incentivising businesses to use the energy-efficient grant and households to use climate vouchers, among other measures.

“So we are trying on multiple prongs to get our population, our businesses, our country, our society as a whole, to adopt energy conservation as its core, as its foundation,” he said.