National Day Rally 2018: The 8 things you need to know

[EunoiaJAYCEE]

Prime Minister Lee Hsien Loong announced several new housing and healthcare schemes at the National Day Rally. Here are the key points of his address.

SINGAPORE: Prime Minister Lee Hsien Loong unveiled plans to upgrade and redevelop Singapore’s public housing, and measures to help Singaporeans manage healthcare costs in the National Day Rally on Sunday evening (Aug 19).

In addition to addressing the cost of living, Mr Lee devoted a large part of his speech to housing concerns and revealed two major schemes to renew Housing and Development Board (HDB) flats.
He also announced major changes to healthcare financing: A new healthcare subsidy package for Singaporeans born in the 1950s and the expansion of the Community Health Assist Scheme (CHAS).
Here are 8 key takeaways from the rally:

1. VOLUNTARY EARLY REDEVELOPMENT SCHEME

Addressing Singaporeans’ concerns about the 99-year leases of HDB flats running out in a few decades’ time, Mr Lee announced a new scheme to redevelop HDB flats, that will be implemented in about 20 years’ time.
The Government plans to start redeveloping older housing estates and will begin doing so when the flats are about 70 years old, Mr Lee said.

This will be done progressively over a period of 20 to 30 years so that old towns can be rejuvenated in an "orderly way".

Under the Voluntary Early Redevelopment Scheme (VERS), residents in a precinct will have to vote to allow authorities to take back the flats. Those who do so will receive compensation, but this will be less generous than under the Selective En Bloc Redevelopment Scheme (SERS).

Mr Lee also explained at length the reasons why HDB flat leases should not extend beyond 99 years.


2. HOME IMPROVEMENT PROGRAMME

More HDB flats will be upgraded as the Government expands the Home Improvement Programme (HIP) to homes built from 1987 to 1997. The programme originally covered flats built in the years up to 1986.
Another 230,000 flats will benefit, including in estates like Pasir Ris, Yishun, Tampines and Jurong, Mr Lee said.

HDB will also be upgrading older flats a second time at around the 60- to 70-year mark under a HIP II scheme, which will start in 10 years’ time.

More at
National Day Rally 2018: The 8 things you need to know

 

[winnipegjets]

There is no free lunch from the PAP; whatever they offer, we will pay through the nose for it (never directly because you will feel the pay, so it will always be through CPF).

 

[Leongsam]

Prime Minister Lee Hsien Loong announced several new housing and healthcare schemes at the National Day Rally. Here are the key points of his address.

SINGAPORE: Prime Minister Lee Hsien Loong unveiled plans to upgrade and redevelop Singapore’s public housing, and measures to help Singaporeans manage healthcare costs in the National Day Rally on Sunday evening (Aug 19).

In addition to addressing the cost of living, Mr Lee devoted a large part of his speech to housing concerns and revealed two major schemes to renew Housing and Development Board (HDB) flats.
He also announced major changes to healthcare financing: A new healthcare subsidy package for Singaporeans born in the 1950s and the expansion of the Community Health Assist Scheme (CHAS).
Here are 8 key takeaways from the rally:

1. VOLUNTARY EARLY REDEVELOPMENT SCHEME

Addressing Singaporeans’ concerns about the 99-year leases of HDB flats running out in a few decades’ time, Mr Lee announced a new scheme to redevelop HDB flats, that will be implemented in about 20 years’ time.
The Government plans to start redeveloping older housing estates and will begin doing so when the flats are about 70 years old, Mr Lee said.

This will be done progressively over a period of 20 to 30 years so that old towns can be rejuvenated in an "orderly way".

Under the Voluntary Early Redevelopment Scheme (VERS), residents in a precinct will have to vote to allow authorities to take back the flats. Those who do so will receive compensation, but this will be less generous than under the Selective En Bloc Redevelopment Scheme (SERS).

Mr Lee also explained at length the reasons why HDB flat leases should not extend beyond 99 years.


2. HOME IMPROVEMENT PROGRAMME

More HDB flats will be upgraded as the Government expands the Home Improvement Programme (HIP) to homes built from 1987 to 1997. The programme originally covered flats built in the years up to 1986.
Another 230,000 flats will benefit, including in estates like Pasir Ris, Yishun, Tampines and Jurong, Mr Lee said.

HDB will also be upgrading older flats a second time at around the 60- to 70-year mark under a HIP II scheme, which will start in 10 years’ time.

More at
National Day Rally 2018: The 8 things you need to know

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