Carbon tax to affect electricity and gas expenses of Singapore households: Budget 2018

3163
 

The Singapore Government will be imposing a carbon tax from 2019 – a tax that is expected to affect the electricity and gas expenses of all households in Singapore. Finance Minister Heng Swee Keat confirmed this as he delivered the Budget 2018 speech this afternoon.

The Minister said in his Budget speech last year that the tax is aimed at creating a “price signal” so that industries will have an incentive to reduce emissions. He had said that the tax will not directly apply to households but predicted a “modest” trickle-down effect on consumers.

Today, the Minister said that the carbon tax is expected to cost about an additional 1 per cent of the electricity and gas expenses of all households. He added that eligible households will each receive a $20 increase per year to cover the expected average expenses increase that arises from the tax.

In Budget 2017, the Government increased water prices by a hefty 30 per cent.

The Government expects to generate nearly $1 billion in carbon tax revenue over the first five years. This revenue will be set aside to better support companies to improve energy efficiency.

“We must have enough resources” Heng Swee Keat stresses, listing 3 shifts Singapore must contend with

 

55 COMMENTS

    • Singapore starts implementing a tax where many other countries already abandoned.

      Carbon tax will drive up costs for both businesses and consumers.
      It will be a burden to many families, without any significant tangible benefit to the environment. In short, it’s purely money grabbing for the government.

  1. Tax tax and more taxes?!!!! They are already running an obscene surplus from the previous taxes they collected and now they are still saying it isnt enough????? Stop lining your own pockets with so much money for a damm start!!! And stop playing political games. Is seems as if you are trying to keep paying yourselves with obscene salaries are preventing others from having a go at it v

    • Not enough for them to loose TRILLIONS in investments. Over here keep increasing every damn things n there say ‘ give u’……..Haha…. Why don’t U all just reduce ur huge fat salaries n bonuses…. why only know how to squeeze from people????? U don’t lead the people to have better life. Killing n destroying life that LKY built for his people

  2. Very funny way of the WTG! Slap your face left punch your right eye than act say sorry sorry hor ….ask to go consult doctor at poly clinic telling gov got subsidize one !!! you internal injured liao WTG prescribe panadol and expect you to be grateful n thankful !!! nahbeh!!!!

  3. EDIT (20.2.18) – LATEST POSTING. – MUST READ!!
    ============================
    1) EARLY IN THE MORNING, AROUND 1 AM, I SIGHTED A “VERY BIG” COCKROACH WHEN I WAS READING OTHER FB USERS’ COMMENTS RE THE. SG “BUDGET” SPEECH. IN. MY LIVING ROOM. IT THEN WENT TO MY KITCHEN.

    2) FOR THE PAST FEW CONSECUTIVE DAYS, EVEN NOW WHEN I’M POSTING MY FB COMMENTS, MY “RIGHT” EYE LID “JUMPS”.

    INDICATING IT IS “RIGHT” TO “JUMP” (“SIDE”) USA, GOT “EXPENSIVE, DIFFICULT AND GENERAL” OFFER.

    REMINDER
    =========
    PRESIDENT TRUMP “CONCURS” TO GIVE ME “EXPENSIVE” OFFER AND HE SAID TO “CANCEL” THE “PEANUT” OFFER!!

    USA’S BUDGET SPENDING IS $1.5 TRILLIONS, INFRASTRUCTURE PLAN IS ALSO $1.5 TRILLIONS!!

    =========

    3) PRESIDENT TRUMP’S SON HAS ARRIVED IN INDIA ON MONDAY, 19.2.18 (COINCIDED WITH SG BUDGET SPEECH DAY) FOR ABOUT A WEEK.

    HE WOULD DELIVER HIS KEYNOTE SPEECH WITH INDIAN PM MODI AS WELL AS TO PROMOTE HIS TRUMP TOWERS IN FOUR STATES IN GURUGAM (NEW DELHI), MUMBAI, PUNE AND KOLKATA. HE WOULD ALSO HV DINNERS WITH THOSE BUYERS AND POTENTIAL BUYERS LATER IN THE WEEK.

    IT IS REPORTED HIS INDIA TRIP COULD MIX BOTH BUSINESS AND FOREIGN POLICY!!

    https://www.usatoday.com/story/news/world/2018/02/19/donald-trump-jr-s-trip-india-could-mix-business-and-u-s-foreign-policy/352127002/

    ==============================================

    EDIT (19.2.18)
    ============
    THIS AFTERNOON BEFORE THE SG BUDGET SPEECH, I DISCOVERED THE PLATE WHICH I PLACE 3 (REFERS TO USA) BIG BANANAS ON IT HAS SO MUCH “LIQUID”.

    AND STRANGELY, THE CENTRE BANANA IS STILL” HARD” WHILE THE REMAINING TWO WERE VERY RIPE (“RIGHT”) .

    SO, I DECIDED TO USE THE RIPE ONES TO BAKE A CHOCOLATE BANANA CAKE AND I ATE THE HARD ONE.

    =============================================

    17.2.18
    ======

    LOOK AT WHAT THE CAT IS DOING!!

    IT IS PRAYING TO THE ALTAR!! (WATCH THE VIDEO.)

    https://m.facebook.com/story.php?story_fbid=10208986312575248&id=1839725545

  4. The PAP says that this will create a [“price signal” so that industries will have an incentive to reduce emissions]. The debate on Carbon Tax had been controversial and hotly contested in many countries – Australia, Canada, Germany, Japan, etc. Typical of PAP, they have been watching and learning the ways to counter the various opposing arguments (look at the casino issue). And now they strike. The one common truth agreed by experts is that Carbon Tax WILL NOT in any way dissuade macro or micro fossil fuel production and use. Why? Because there just isn’t any viable cheap and widespread cleaner alternatives, an outcome caused by political patronage leading to a total lack of will from politicians in the world to invest meaningfully in competing alternatives. And that the cost will inevitably be passed on IN FULL to consumers further undermines any potential impetus to become environmentally responsible. “Modest” ramification for the common people is an insulting presumption.