Comment on SDP’s COE Policy

[cheekenpie]

This guy is from TOC right? Wait i kenna scolding again for misassociating. :p

Comment on SDP’s COE Policy
by Boris Chan on Tuesday, December 21, 2010 at 11:31pm

SDP proposes a COE policy that cut down on the cost of car ownership to help “working folks” who have “as great a need for private transport as those who are in the high-income bracket”. It proposes a Category I COE that cost $1,000 and scraps the Excise Duty and Additional Registration Fee.



The first issue with this scheme is the number of COE available vs the number of families qualify for this Category I COE balloting. Given the limited number of COE, a good number of families that really need a car will not get it. So, the proposal is not a good solution to address the issue it set out to resolve in the first place.



With reduced car ownership cost, qualified families that do not really need a car may find it attractive to join the ballot, reducing the chance of those who need a car to own one. The potential end result is few “working folks” who really need a car benefit from the scheme.



The second issue is the weak restriction of “The COEs will not be transferable for two years to prevent speculation and their resale for profit.” One can expect the price different between the Category II COE where highest bids get the COEs and the cheap Category I COE is so great that one can make a tidy profit by selling the Category I COE after 2 years while the “working folks” continue to try their luck to ballot one.



The third issue is that a car loan, no matter how low is that car ownership cost, is a financial liability that “working folks” really don’t need.



So, I really don’t think it is a good idea.

http://www.facebook.com/chanboris

 

[Char_Azn]

I think most of the guys who read the thread on SDP's stupid idea already thrashed it upside down. In fact they did a way better job then this guy.

 

[Loofydralb]

Anything is still better than PAPs failed trransport policies.

At least he dared to come upith a suggestion, instead of PAP who will pick your pockets along the way.

 

[Lestat]

A alternative proposal to the COE system?

Good for the opposition to come up with an idea. But the bone I will pick on their suggestion is "what is there to determine which family NEEDS a car?"

A car is a form of transport. There's not justification on a NEED. It's purely a WANT. :o

 

[LonewolfAlfa]

to be honest, if no coe and everyone has a car or two (like me), even if they dont drive, there will not be enough lots to park. most of the hdb multi storey car parks are already full at night.

alot of them are already illegally parking along the road outside my condo turning the road into a 1 lane street after 11pm.