Use of Per Capita Annual Value of Homes Instead as Basis for Future Financial Packages to Help Singaporeans Offset Cost of Living
01 Aug 2022Parliamentary Question by Mr Kwek Hian Chuan Henry:
To ask the Deputy Prime Minister and Minister for Finance whether future financial packages to help Singaporeans offset the cost of living will consider per capita annual value of their homes so that larger families living in non-HDB flats can be better supported by the Government.
Parliamentary Reply by Deputy Prime Minister, and Minister for Finance Mr Lawrence Wong:
Our social support schemes are generally means-tested to ensure support is targeted. Various criteria are used for the means tests, and several of them do take into account family sizes. For example, we use Per Capita Household Income (PCHI) for certain schemes that are available to private estate residents, such as CHAS and Seniors Mobility and Enabling Fund (SMF).
Annual value (AV) is currently used as a proxy for wealth and family support. While it is not a perfect measure, it remains a reasonable proxy for the financial resources available to the individual, including from immediate family members that reside with this individual. Where individuals miss the scheme criteria narrowly, we can consider appeals on a case-by-case basis.
Not all support measures are means-tested. For example, in the recent $1.5b Support Package, all Singaporean households will receive a $100 Household Utilities Credit to provide support for utilities bills. Under the Budget 2022 Household Support Package, all Singaporean households also received CDC Vouchers to provide support for daily essentials.
We will continue to review the criteria used for social support schemes for appropriateness and fiscal sustainability, while prioritising assistance to individuals with greater need.