Uncle Leong
Main Stories, Uncle Leong - Saturday, March 13, 2010 5:15 - 67 Comments
COE: Another solution that may make more money, but may not solve the problem?
By Leong Sze Hian
I refer to the report “LTA announces changes to Vehicle Quota System” (Channel News Asia, Mar 11).
The report states that the number of COEs is likely to be reduced, which means car prices may go up.
Will higher COE prices mean more revenue for the LTA?
The report also states that the annual allowable growth rate of vehicles halved from 3% to 1.5% last year. This begs the question: Why did we take so many years to finally decide to half the allowable growth rate?
Transport Minister Raymond Lim explained to Parliament on Thursday how the LTA persistently over-projected the amount of cars to be scrapped each year.
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