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Singapore appointed 2 idiots to lead the task force.
- Thread starter LaoTze
- Start date
During this covid 19 pandemic, most articles are written with an agenda or purpose in mind. The facts in the article can be tailored to suit the agenda or purposes in most cases. The simple reason for this is that there is no concrete irrefutable evidence that will support a hypothesis. For example, the commonly argued issues of whether being vaccinated is better or not and also whether masks actually help to reduce the risk of infection. In the latter case, if you wear a mask and constantly push it down to rub your nose, you are probably better off not wearing a mask.
During this covid 19 pandemic, most articles are written with an agenda or purpose in mind. The facts in the article can be tailored to suit the agenda or purposes in most cases. The simple reason for this is that there is no concrete irrefutable evidence that will support a hypothesis. For example, the commonly argued issues of whether being vaccinated is better or not and also whether masks actually help to reduce the risk of infection. In the latter case, if you wear a mask and constantly push it down to rub your nose, you are probably better off not wearing a mask.
That's why I just look at the data rather than read articles. The data shows that the ah neh variant is not very strong.
That's why I just look at the data rather than read articles. The data shows that the ah neh variant is not very strong.
View attachment 113735
Could also be that more people are getting vaccinated and wearing masks.
from msn.com:
SINGAPORE — Singapore's Finance Minister Lawrence Wong said "open and free" air travel in Asia remains unlikely in the near term as parts of the region battle with an increase in Covid-19 infections.
"I am somewhat less sanguine about the prospects for air travel," Wong told Martin Soong as part of the virtual CNBC Evolve Global Summit.
"The region is still facing rolling waves of infection, and vaccination rates for many countries in the region are still not high enough. So I don't think we will be able to see open and free travel in the region, in particular, any time soon," said the minister who also co-chairs Singapore's coronavirus task force.
Singapore is a Southeast Asian city-state with no domestic air travel market. International travel came to a sudden halt in the past year due to the pandemic, and that's hurt Singapore's aviation and tourism sectors — two major contributors to economic growth.
Wong said the Singapore government continues to talk with its counterparts in the region about setting up "safe travel lanes." He didn't name the places Singapore is in talks.
"Perhaps amongst the countries with low and stable infections, we may have some travel arrangements. Perhaps for vaccinated travelers, there may be some benefits in terms of shorter quarantine times," said the minister.
"But for the most part ... all of that is not going to add up to what we used to have pre-Covid. So air travel, I'm afraid, will take some time to recover," Wong added.
© Provided by CNBC
Singapore has an air travel bubble agreement with Hong Kong that will allow travelers to skip quarantine. But the launch of the scheme has been postponed twice — first from November and then again in May — due to renewed Covid outbreaks in either cities.
Last week, the prime ministers of Singapore and Australia said they will work toward an air travel bubble arrangement between the two countries.
Singapore also experienced a renewed rise in cases last month after previous successes in containing the outbreak — which led the government to tighten social-distancing measures.
Wong said those measures have been working and that allows the country to gradually ease restrictions again. But he warned that the situation could be unpredictable.
"You know, with this virus, you can never tell what happens in the next few days, because … there will always be surprises. It's a very tricky virus. Each time you think you have it under control, it pops up in a new direction," said Wong.
The minister reiterated the government's goal of having at least 50% of the population fully vaccinated by August.
Singapore appears on track to meet that goal. Around 2.7 million people — or 47% of the country's population — have received at least the first dose of Covid vaccine as of Monday, according to the latest health ministry data.
Air travel in Asia won’t return to pre-Covid levels ‘anytime soon,’ says Singapore minister
SINGAPORE — Singapore's Finance Minister Lawrence Wong said "open and free" air travel in Asia remains unlikely in the near term as parts of the region battle with an increase in Covid-19 infections.
"I am somewhat less sanguine about the prospects for air travel," Wong told Martin Soong as part of the virtual CNBC Evolve Global Summit.
"The region is still facing rolling waves of infection, and vaccination rates for many countries in the region are still not high enough. So I don't think we will be able to see open and free travel in the region, in particular, any time soon," said the minister who also co-chairs Singapore's coronavirus task force.
Singapore is a Southeast Asian city-state with no domestic air travel market. International travel came to a sudden halt in the past year due to the pandemic, and that's hurt Singapore's aviation and tourism sectors — two major contributors to economic growth.
Wong said the Singapore government continues to talk with its counterparts in the region about setting up "safe travel lanes." He didn't name the places Singapore is in talks.
"Perhaps amongst the countries with low and stable infections, we may have some travel arrangements. Perhaps for vaccinated travelers, there may be some benefits in terms of shorter quarantine times," said the minister.
"But for the most part ... all of that is not going to add up to what we used to have pre-Covid. So air travel, I'm afraid, will take some time to recover," Wong added.
Singapore has an air travel bubble agreement with Hong Kong that will allow travelers to skip quarantine. But the launch of the scheme has been postponed twice — first from November and then again in May — due to renewed Covid outbreaks in either cities.
Last week, the prime ministers of Singapore and Australia said they will work toward an air travel bubble arrangement between the two countries.
Singapore's Covid situation
Asia, where the coronavirus was first detected, saw a spike in infections in recent months. Places ranging from developing nations — such as India and Nepal — to more developed economies including Japan and Taiwan had a resurgence in cases.Singapore also experienced a renewed rise in cases last month after previous successes in containing the outbreak — which led the government to tighten social-distancing measures.
Wong said those measures have been working and that allows the country to gradually ease restrictions again. But he warned that the situation could be unpredictable.
"You know, with this virus, you can never tell what happens in the next few days, because … there will always be surprises. It's a very tricky virus. Each time you think you have it under control, it pops up in a new direction," said Wong.
The minister reiterated the government's goal of having at least 50% of the population fully vaccinated by August.
Singapore appears on track to meet that goal. Around 2.7 million people — or 47% of the country's population — have received at least the first dose of Covid vaccine as of Monday, according to the latest health ministry data.
Looks like there is a possibility that dining out may be delayed. 
from Lawrence Wong facebook:
We are now at stage 1 of our reopening. Stage 2 is scheduled next Monday. Unfortunately we now have new cases breaking out and a major new cluster in Bukit Merah. Given these developments, we are evaluating the timing and scope of the next stage of reopening. The MTF is studying the situation carefully with public health experts, and will provide further updates soon.
from Lawrence Wong facebook:
Lawrence Wong
1 hr ·We are now at stage 1 of our reopening. Stage 2 is scheduled next Monday. Unfortunately we now have new cases breaking out and a major new cluster in Bukit Merah. Given these developments, we are evaluating the timing and scope of the next stage of reopening. The MTF is studying the situation carefully with public health experts, and will provide further updates soon.
from yahoo.com:
SINGAPORE — Finance Minister and multi-ministry taskforce (MTF) co-chair Lawrence Wong has raised the possibility of a delay in the next stage of Singapore's re-opening following a recent outbreak of COVID-19 community cases.
In a video posted on his Facebook page on Wednesday (16 June), Wong noted that a further easing of pandemic restrictions, including the resumption of dining in at hawker centres and eateries, is scheduled to take place on 21 June. Singapore is currently in Phase 3 (Heightened Alert) of its reopening, which started on 14 June.
"Unfortunately, we've had a latest outbreak of cases and we are likely to be dealing now with a very large cluster in Bukit Merah, where the cases are breaking out not only at the market and the hawker centre but also all around the vicinity. And day by day we are seeing the number of cases, the cryptic cases in the community are likely to be rising too," he said.
Wong was referring to a cluster of infections linked to the Bukit Merah View Market and Food Centre, which currently has 25 cases.
With this in mind, Wong added the government is "evaluating the timeline and the scope of our second stage of opening" and, in consultation with public health experts, would announce its decision soon.
"We want to ensure that we do not have another flare up before we reach sufficiently high levels of vaccination in our community," he said.
In the video, Wong also demonstrated the use of an antigen rapid test (ART) kit, which can be used for self-testing to detect COVID-19. These kits are currently available at all major pharmacies, with prices ranging from $10 to $13.
"The process is fast, simple and very easy to use. All of us must get used to the idea of regular testing as part of our routine, like taking our temperatures," said Wong.
Lawrence Wong raises possible delay in next stage of reopening
SINGAPORE — Finance Minister and multi-ministry taskforce (MTF) co-chair Lawrence Wong has raised the possibility of a delay in the next stage of Singapore's re-opening following a recent outbreak of COVID-19 community cases.
In a video posted on his Facebook page on Wednesday (16 June), Wong noted that a further easing of pandemic restrictions, including the resumption of dining in at hawker centres and eateries, is scheduled to take place on 21 June. Singapore is currently in Phase 3 (Heightened Alert) of its reopening, which started on 14 June.
"Unfortunately, we've had a latest outbreak of cases and we are likely to be dealing now with a very large cluster in Bukit Merah, where the cases are breaking out not only at the market and the hawker centre but also all around the vicinity. And day by day we are seeing the number of cases, the cryptic cases in the community are likely to be rising too," he said.
Wong was referring to a cluster of infections linked to the Bukit Merah View Market and Food Centre, which currently has 25 cases.
With this in mind, Wong added the government is "evaluating the timeline and the scope of our second stage of opening" and, in consultation with public health experts, would announce its decision soon.
"We want to ensure that we do not have another flare up before we reach sufficiently high levels of vaccination in our community," he said.
In the video, Wong also demonstrated the use of an antigen rapid test (ART) kit, which can be used for self-testing to detect COVID-19. These kits are currently available at all major pharmacies, with prices ranging from $10 to $13.
"The process is fast, simple and very easy to use. All of us must get used to the idea of regular testing as part of our routine, like taking our temperatures," said Wong.
from Lawrence Wong facebook:
Had a wide-ranging fireside chat with CNBC's Martin Soong at their Evolve Global Summit yesterday.
We spoke about the international impact of Covid-19, supply chains and trade, air travel bubbles and more.
I shared that our key strategies now are to test, trace and vaccinate. In particular, vaccination rollout is a key part of our reopening plans. As we continue to get more people vaccinated, we will then have greater confidence to progressively resume activities safely.
While we tackle the immediate concerns in the pandemic, we also keep an eye on the future. Two key areas we are strengthening are digital transformation and the green economy. We will continue to invest in new capabilities to seize new opportunities and to emerge stronger from this crisis.
Lawrence Wong
1 hr ·Had a wide-ranging fireside chat with CNBC's Martin Soong at their Evolve Global Summit yesterday.
We spoke about the international impact of Covid-19, supply chains and trade, air travel bubbles and more.
I shared that our key strategies now are to test, trace and vaccinate. In particular, vaccination rollout is a key part of our reopening plans. As we continue to get more people vaccinated, we will then have greater confidence to progressively resume activities safely.
While we tackle the immediate concerns in the pandemic, we also keep an eye on the future. Two key areas we are strengthening are digital transformation and the green economy. We will continue to invest in new capabilities to seize new opportunities and to emerge stronger from this crisis.
from straitstimes.com:
SINGAPORE - The move to reform the global tax system and set a global minimum corporate tax rate is understandable, but the G-7 group of wealthy nations cannot be the only ones setting the rules, said Finance Minister Lawrence Wong.
All countries, big and small, must be involved in coming to a global consensus. This will also ensure a level playing field across all jurisdictions, he added on Wednesday (June 16).
Speaking at the CNBC Evolve Global Summit about a week after the G-7 countries agreed to the historic tax deal, he acknowledged the need for deeper international cooperation to synchronise taxation systems around the world.
He added: "When these new rules are in place, Singapore will certainly adjust our tax systems accordingly to be in line with the global consensus, and also in consultation with businesses here."
The tax agreement, many years in the making, would force multinational corporations to pay taxes in all countries they operate in. The G-7 has committed to a global minimum corporate tax of at least 15 per cent in the agreement.
Asked about this, Mr Wong said: "It's a judgement call... But we also have to be careful that this new threshold doesn't end up being a maximum rate that ends up not allowing countries to generate more revenues than they would desire to."
Singapore's headline corporate tax is 17 per cent, but the effective tax rate may be lower.
He added that there was also a need to make sure the new rules do not inadvertently lead to reduced incentives for businesses to invest and innovate because "it will just shrink the pie for everyone and we'll be then scrambling for our share of a smaller pie".
The G-7 deal comes as governments around the world emerge from the Covid-19 pandemic with record levels of borrowing, and grapple with how to raise revenues.
While Singapore had been able to draw on about $50 billion of its past reserves to tide through the crisis, Mr Wong said it continues to run deficits and expects healthcare and social spending to rise in the coming years as the population ages.
That is why the country is thinking of how to raise revenues in a way that is fair and equitable, he added.
Asked if that would mean higher taxes in Singapore, Mr Wong said the Government is studying different options for tax increases.
In doing so, it will have to ensure Singapore continues to "have a tax system that's fair and progressive and equitable to everyone", he added.
"Basically, those with means should pay their fair share of taxes."
He noted that this was also the maxim underlying the global tax reforms.
"In many developed countries with rapidly ageing populations, they find it hard to impose taxes on their population, because the young will end up with a disproportionately high fiscal burden. At the same time, they find it difficult to tax corporates, because the corporate tax base is increasingly mobile in this globalised world," he said adding this is why there has been increased pressures on international taxation systems.
Asked about how best to make Singapore a more digitalised and future-ready economy, Mr Wong said the country has prioritised spending on digital transformation and building a green economy to keep its competitive edge.
On digital transformation, he said it cuts across all sectors and improvements are being made to boost digital infrastructure and connectivity.
Meanwhile, he acknowledged that the debate is still ongoing on what constitutes green investments, and said Singapore is participating in forums on developing stricter, more rigorous standards.
For now, he said, Singapore uses a whole range of different measurements and criteria to determine a bona fide green investment, such as factors like carbon intensity and energy usage efficiency.
On whether Singapore would ever have to make a choice between protecting the climate and pursuing growth, Mr Wong said: "It is indeed a very difficult trade-off, and I think that trade-off and the decisions to make have to be made not just by Singapore, but by countries everywhere.
"The reality is that the world is facing a climate emergency. Perhaps all that we are seeing now with Covid-19 is really just a dress rehearsal for the bigger emergency that is to come, which is climate change."
He added that there would be a cost to mitigating climate change and "someone has to pay for it".
For a start, the carbon price around the world will have to be much higher, and this will translate into higher prices for people, he noted.
He said Singapore will do its part, and has already started with a carbon tax which will be reviewed and potentially raised in future in line with plans to lower emissions and achieve greener growth.
Mr Wong, who also spoke about Covid-19 and its impact on the economy, said the global trading system has mostly adjusted and recovered from the initial hit when the pandemic started.
But he was less sanguine about the prospects for air travel.
With the region still facing rolling waves of infection, and vaccination rates for many countries still low, "I don't think we will be able to see open and free travel in the region in particular any time soon", said the minister, who co-chairs the multi-ministry task force on Covid-19.
Asked about travel bubbles, he said he refrains from talking about them because "each time we talk about it, it gets burst and then we all start getting disappointed".
Singapore will continue to talk to countries in the region with low, stable infection rates to establish safe travel lanes for two-way travel, he added.
On whether the country will ease up on restrictions further, he said the reopening will be done in a controlled manner to guard against outbreaks.
He added that when Singapore reaches a stage where its vaccination rates are higher, there will be "more confidence to ease up on restrictions further".
The hope is that at least 50 per cent of Singapore residents will be fully vaccinated by August, he said.
Consensus among all countries needed for global tax reforms, should not be decided by G-7 alone: Lawrence Wong
SINGAPORE - The move to reform the global tax system and set a global minimum corporate tax rate is understandable, but the G-7 group of wealthy nations cannot be the only ones setting the rules, said Finance Minister Lawrence Wong.
All countries, big and small, must be involved in coming to a global consensus. This will also ensure a level playing field across all jurisdictions, he added on Wednesday (June 16).
Speaking at the CNBC Evolve Global Summit about a week after the G-7 countries agreed to the historic tax deal, he acknowledged the need for deeper international cooperation to synchronise taxation systems around the world.
He added: "When these new rules are in place, Singapore will certainly adjust our tax systems accordingly to be in line with the global consensus, and also in consultation with businesses here."
The tax agreement, many years in the making, would force multinational corporations to pay taxes in all countries they operate in. The G-7 has committed to a global minimum corporate tax of at least 15 per cent in the agreement.
Asked about this, Mr Wong said: "It's a judgement call... But we also have to be careful that this new threshold doesn't end up being a maximum rate that ends up not allowing countries to generate more revenues than they would desire to."
Singapore's headline corporate tax is 17 per cent, but the effective tax rate may be lower.
He added that there was also a need to make sure the new rules do not inadvertently lead to reduced incentives for businesses to invest and innovate because "it will just shrink the pie for everyone and we'll be then scrambling for our share of a smaller pie".
The G-7 deal comes as governments around the world emerge from the Covid-19 pandemic with record levels of borrowing, and grapple with how to raise revenues.
While Singapore had been able to draw on about $50 billion of its past reserves to tide through the crisis, Mr Wong said it continues to run deficits and expects healthcare and social spending to rise in the coming years as the population ages.
That is why the country is thinking of how to raise revenues in a way that is fair and equitable, he added.
Asked if that would mean higher taxes in Singapore, Mr Wong said the Government is studying different options for tax increases.
In doing so, it will have to ensure Singapore continues to "have a tax system that's fair and progressive and equitable to everyone", he added.
"Basically, those with means should pay their fair share of taxes."
He noted that this was also the maxim underlying the global tax reforms.
"In many developed countries with rapidly ageing populations, they find it hard to impose taxes on their population, because the young will end up with a disproportionately high fiscal burden. At the same time, they find it difficult to tax corporates, because the corporate tax base is increasingly mobile in this globalised world," he said adding this is why there has been increased pressures on international taxation systems.
Asked about how best to make Singapore a more digitalised and future-ready economy, Mr Wong said the country has prioritised spending on digital transformation and building a green economy to keep its competitive edge.
On digital transformation, he said it cuts across all sectors and improvements are being made to boost digital infrastructure and connectivity.
Meanwhile, he acknowledged that the debate is still ongoing on what constitutes green investments, and said Singapore is participating in forums on developing stricter, more rigorous standards.
For now, he said, Singapore uses a whole range of different measurements and criteria to determine a bona fide green investment, such as factors like carbon intensity and energy usage efficiency.
On whether Singapore would ever have to make a choice between protecting the climate and pursuing growth, Mr Wong said: "It is indeed a very difficult trade-off, and I think that trade-off and the decisions to make have to be made not just by Singapore, but by countries everywhere.
"The reality is that the world is facing a climate emergency. Perhaps all that we are seeing now with Covid-19 is really just a dress rehearsal for the bigger emergency that is to come, which is climate change."
He added that there would be a cost to mitigating climate change and "someone has to pay for it".
For a start, the carbon price around the world will have to be much higher, and this will translate into higher prices for people, he noted.
He said Singapore will do its part, and has already started with a carbon tax which will be reviewed and potentially raised in future in line with plans to lower emissions and achieve greener growth.
Mr Wong, who also spoke about Covid-19 and its impact on the economy, said the global trading system has mostly adjusted and recovered from the initial hit when the pandemic started.
But he was less sanguine about the prospects for air travel.
With the region still facing rolling waves of infection, and vaccination rates for many countries still low, "I don't think we will be able to see open and free travel in the region in particular any time soon", said the minister, who co-chairs the multi-ministry task force on Covid-19.
Asked about travel bubbles, he said he refrains from talking about them because "each time we talk about it, it gets burst and then we all start getting disappointed".
Singapore will continue to talk to countries in the region with low, stable infection rates to establish safe travel lanes for two-way travel, he added.
On whether the country will ease up on restrictions further, he said the reopening will be done in a controlled manner to guard against outbreaks.
He added that when Singapore reaches a stage where its vaccination rates are higher, there will be "more confidence to ease up on restrictions further".
The hope is that at least 50 per cent of Singapore residents will be fully vaccinated by August, he said.
These architects are very busy. Last week spoke to HSK, this week speak to OYK.
from OYK facebook:
Had a fruitful discussion with about 100 architects yesterday. The conversation naturally moved to how architects can create better ventilated spaces to help reduce disease transmission.
We also discussed how given our ageing population, Singapore’s built environment must be designed to better serve the needs of our seniors.
Take Kampung Admiralty for example. Dubbed the modern kampung of Singapore, the flats in the estate are designed to be seniors-friendly, with amenities such as a Medical Centre, rooftop garden and Active Ageing Hub integrated into the living environment.
These are the innovations needed for the future, and the creativity of architects will have much to offer.
from OYK facebook:
Ong Ye Kung
Yesterday at 07:48·Had a fruitful discussion with about 100 architects yesterday. The conversation naturally moved to how architects can create better ventilated spaces to help reduce disease transmission.
We also discussed how given our ageing population, Singapore’s built environment must be designed to better serve the needs of our seniors.
Take Kampung Admiralty for example. Dubbed the modern kampung of Singapore, the flats in the estate are designed to be seniors-friendly, with amenities such as a Medical Centre, rooftop garden and Active Ageing Hub integrated into the living environment.
These are the innovations needed for the future, and the creativity of architects will have much to offer.
from msn.com:
Snap lockdowns cannot 'go on forever', Singapore must reopen: Ong Ye Kung
SINGAPORE — Snap lockdowns cannot "go on forever" if Singapore is to retain its competitiveness and viability, but the country's reopening will depend on its vaccination rate, said Health Minister Ong Ye Kung on Friday (18 June).
"At some point, with our higher capabilities, high vaccination, we must be able to reconnect with the world. Travel must start again," said Ong at a virtual media briefing by the multi-ministry taskforce on COVID-19 (MTF).
Alluding to exchanges between businessmen, investors and students, he added, "At some point, and in the very near future, we must be able to revive that."
Ong was responding to a question from Yahoo News Singapore on whether snap lockdowns are sustainable on an economic and social level, given the growing anxiety among residents in Singapore and that many businesses are suffering.
Earlier in the briefing, the minister also alluded to the need for Singapore to connect with the world again. For a start, food & beverage outlets and gyms cannot be "opening and closing in tandem" with infection clusters. However, this will depend on the country attaining a higher vaccination rate.
Currently, 49 per cent of the population have received their first dose, and slightly over 35 per cent are fully vaccinated. Ong also revealed that vaccination rates have gone up from 40,000 doses a day in May, to 47,000 doses a day over the past two weeks, pledging that "it will go higher in the coming weeks".
Adding that raising the vaccination rate is now the imperative, he stressed, "Without higher vaccination rates, infection numbers will still matter because high infections can lead to more severe illnesses, especially amongst those those who are more vulnerable."
No different from a full lockdown?
While Ong had earlier expressed confidence that Singapore has left the days of the circuit breaker behind, Yahoo News Singapore pointed out that, on the ground, the sentiment is that there is little practical difference between a full lockdown and the current restrictions.Acknowledging that there is little difference for F&B outlets, which are currently not allowed to have dine-in customers until from 21 June, Ong noted that many other businesses such as manufacturing plants and construction firms are still allowed to operate.
Trade and Industry Minister Gan Kim Yong, another MTF co-chair, also weighed in, noting that as the circuit breaker was more than a year ago, many might have forgotten that the period was "quite a severe restriction on many activities in the community".
Noting that there are many Singapore-based businesses whose ability to travel around the region for work has been curtailed for a long time, Gan added, "I think we have to look at all the measures taken together, that will allow us to restore economic activities as quickly as possible. We will have to carefully consider how we can allow...travel to resume because this is very critical to the businesses who are based here in Singapore."
from msn.com:
Singapore – In an interview with American news outlet CNBC, Finance Minister Lawrence Wong explained how Singapore is “an exception” to the “massive increases in public debt and public spending” caused by the Covid-19 pandemic, thanks to accumulated reserves.
During the CNBC Evolve Global Summit interview on Wednesday (June 16) with Michael Soong, Mr Wong touched on reserves, Government spending, and taxation increases.
When asked how much has Singapore spent in trying to offset the negative impacts of Covid-19, Mr Wong noted that about S$50 billion had been drawn out of the country’s reserves.
He also mentioned how almost all the countries in the world would emerge from the pandemic with “massive increases in public debt and public spending” at levels not seen since the end of World War II.
However, “Singapore is an exception”, said Mr Wong.
“We are fortunate because we have built up, accumulated reserves over the past years, and we have been able to draw on those reserves to tide through the crisis.”
Despite having drawn the estimated amount, Mr Wong added that Singapore is “continuing to run deficits”, with spending expected to rise in the coming years to meet the demands of an ageing population and growing healthcare and social needs.
As a result, “fair and equitable” ways to raise revenues to cover the increased spending are being studied.
Mr Wong was asked if this meant higher taxes in Singapore.
“Certainly, when you talk about increased revenues, then tax increases will have to be amongst the options that are considered,” confirmed the minister.
Mr Wong also mentioned the extra challenge of increasing taxes on an ageing population as it will impose a heavier burden on the young.
“At the same time, they (countries with rapidly ageing populations) find it difficult to tax corporates, because the corporate tax base is increasingly mobile in this globalised world,” said Mr Wong.
He noted that the synchronisation of taxation systems worldwide needed a multilateral consensus among countries big and small.
“So when these new rules are in place, Singapore will certainly adjust our tax systems accordingly to be in line with the global consensus, and also in consultation with businesses here.”
Singapore’s headline corporate tax rate is a flat rate of 17 per cent, while the Group of Seven (G7) nations have recently agreed to a global minimum corporate tax rate of at least 15 per cent.
Mr Wong admitted it is a judgement call for each country when it comes to increasing its taxes. A country should be also careful that the new threshold of a minimum taxation rate does not become a “maximum rate” that prevents a country from generating more revenues, said Mr Wong.
S’pore ‘an exception to massive increase in public debt’ globally, thanks to reserves: Lawrence Wong
Singapore – In an interview with American news outlet CNBC, Finance Minister Lawrence Wong explained how Singapore is “an exception” to the “massive increases in public debt and public spending” caused by the Covid-19 pandemic, thanks to accumulated reserves.
During the CNBC Evolve Global Summit interview on Wednesday (June 16) with Michael Soong, Mr Wong touched on reserves, Government spending, and taxation increases.
When asked how much has Singapore spent in trying to offset the negative impacts of Covid-19, Mr Wong noted that about S$50 billion had been drawn out of the country’s reserves.
He also mentioned how almost all the countries in the world would emerge from the pandemic with “massive increases in public debt and public spending” at levels not seen since the end of World War II.
However, “Singapore is an exception”, said Mr Wong.
“We are fortunate because we have built up, accumulated reserves over the past years, and we have been able to draw on those reserves to tide through the crisis.”
Despite having drawn the estimated amount, Mr Wong added that Singapore is “continuing to run deficits”, with spending expected to rise in the coming years to meet the demands of an ageing population and growing healthcare and social needs.
As a result, “fair and equitable” ways to raise revenues to cover the increased spending are being studied.
Mr Wong was asked if this meant higher taxes in Singapore.
“Certainly, when you talk about increased revenues, then tax increases will have to be amongst the options that are considered,” confirmed the minister.
Mr Wong also mentioned the extra challenge of increasing taxes on an ageing population as it will impose a heavier burden on the young.
“At the same time, they (countries with rapidly ageing populations) find it difficult to tax corporates, because the corporate tax base is increasingly mobile in this globalised world,” said Mr Wong.
He noted that the synchronisation of taxation systems worldwide needed a multilateral consensus among countries big and small.
“So when these new rules are in place, Singapore will certainly adjust our tax systems accordingly to be in line with the global consensus, and also in consultation with businesses here.”
Singapore’s headline corporate tax rate is a flat rate of 17 per cent, while the Group of Seven (G7) nations have recently agreed to a global minimum corporate tax rate of at least 15 per cent.
Mr Wong admitted it is a judgement call for each country when it comes to increasing its taxes. A country should be also careful that the new threshold of a minimum taxation rate does not become a “maximum rate” that prevents a country from generating more revenues, said Mr Wong.
from Lawrence Wong facebook:
We are adjusting our reopening plans in light of the latest outbreak and the large cluster in Bukit Merah.
I’ve received lots of feedback on this matter. One school of thought is to hold back all reopening until we’ve brought cases down to near zero. But this will be very hard to do. It will mean restrictive measures for several months, and many businesses will fold.
Another school of thought is to open more aggressively, because our infection rates are relatively low, and we now have vaccines. But in fact our vaccine coverage is not high enough. We still need more people to be fully vaccinated, especially amongst the more vulnerable groups, to ensure sufficient protection.
So we are treading a careful way forward by calibrating our reopening plans. The main objective is to buy us time to speed up vaccinations.
From 21 June we will allow higher-risk mask-off activities like F&B dining-in and gyms and fitness centres to resume. But the group sizes in these higher risk settings will be limited to two. Around mid July, with regular testing and higher vaccination rates, we will consider increasing to 5 pax.
I regret that we are not able to proceed with our original reopening schedule. I seek everyone’s understanding on the changes that have to be made, and ask for your forbearance and patience during this period. We will continue to synchronise further relaxation of measures with the rollout of our vaccination programme. So as our vaccination rates continue to rise over the coming months, we can look forward to reopening safely and resuming more normal activities.
Lawrence Wong
12 hrs ·We are adjusting our reopening plans in light of the latest outbreak and the large cluster in Bukit Merah.
I’ve received lots of feedback on this matter. One school of thought is to hold back all reopening until we’ve brought cases down to near zero. But this will be very hard to do. It will mean restrictive measures for several months, and many businesses will fold.
Another school of thought is to open more aggressively, because our infection rates are relatively low, and we now have vaccines. But in fact our vaccine coverage is not high enough. We still need more people to be fully vaccinated, especially amongst the more vulnerable groups, to ensure sufficient protection.
So we are treading a careful way forward by calibrating our reopening plans. The main objective is to buy us time to speed up vaccinations.
From 21 June we will allow higher-risk mask-off activities like F&B dining-in and gyms and fitness centres to resume. But the group sizes in these higher risk settings will be limited to two. Around mid July, with regular testing and higher vaccination rates, we will consider increasing to 5 pax.
I regret that we are not able to proceed with our original reopening schedule. I seek everyone’s understanding on the changes that have to be made, and ask for your forbearance and patience during this period. We will continue to synchronise further relaxation of measures with the rollout of our vaccination programme. So as our vaccination rates continue to rise over the coming months, we can look forward to reopening safely and resuming more normal activities.
from channelnewsasia.com:
SINGAPORE: Singapore’s vaccination rates are currently “still not high enough” to provide sufficient protection in the population, said co-chair of the COVID-19 multi-ministerial task force Lawrence Wong on Friday (Jun 18).
Speaking at a press conference, he noted the views of some people who think that since COVID-19 could be endemic, Singapore should proceed with easing measures as planned and “not overreact to each and every new cluster”.
“I can understand the sentiments behind this, and indeed, we do want to proceed with our reopening more confidently,” said Mr Wong.
“But our vaccination rates currently are still not high enough to provide sufficient protection.”
It was announced on Friday that under Singapore's two-step approach to reopening, dining-in and other higher-risk activities will resume on the target date of Jun 21 - but in groups of two instead of five as previously planned.
The adjustment in plans comes amid a persistent number of unlinked COVID-19 cases, with authorities noting a large cluster around 115 Bukit Merah View Market and Food Centre.
“Regrettably, we are unable to proceed with our second stage of reopening in light of the latest outbreaks and big cluster that we have discovered in Bukit Merah, and now we have to adjust our plans,” said Mr Wong.
ROLE OF VARIANTS
There is also the view that Singapore should push back its reopening to a much later date until COVID-19 cases are consistently near-zero for many days, noted Mr Wong, who is also the Finance Minister.
“This is in fact very hard to achieve, and may not even be possible to do so, given how transmissible that Delta variant is,” he said.
“And if we were to take this approach, it will mean we have restrictive measures in place for many months, which will cause many businesses to fold. So that's not a very realistic option.”
Forty-nine per cent of the population have taken their first doses of vaccination, and “slightly over” 35 per cent are fully vaccinated with both doses, Health Minister Ong Ye Kung said on Friday at the same press conference.
As of Jun 15, more than 4.7 million doses of the COVID-19 vaccination have been administered in Singapore, he added. More than 2.7 million people have received at least one dose of the COVID-19 vaccine.
“And that's not high enough, particularly the full vaccination rates. Our vaccine coverage for the vulnerable groups, the elderly, it's not bad. It's certainly above 60 per cent but still not high enough, especially for those who are above 70 years old. We would like it to be much higher in order to protect our vulnerable groups,” said Mr Wong.
“So if we were to ease our restrictions too early, big clusters can easily break out and overwhelm us and result in higher hospitalisation and even mortality for the vulnerable groups. That's exactly what we are worried about.”
Other countries are facing similar situations. The UK decided to push back its timeline for reopening because of the same concerns, he added.
“And that's why we are not adopting either approach. Instead, we are treading a very careful path forward based on a rigorous assessment of our current situation,” said Mr Wong.
“Hence, we have decided to break up the reopening into two steps. And our main objective with this stage of reopening is to buy time so that we can continue to speed up our vaccination programme.”
F&B outlets and gyms cannot be “opening and closing in tandem” with the number of COVID-19 infections and clusters, said Mr Ong.
“But for us to adopt that approach, our vaccination rates will have to be higher so that all of us are better protected,” he added.
“It will go higher in the coming weeks, and we are vaccinating as fast as we can … We have the capacity to do a lot more, but we are constrained by supplies and how many vaccines arrive in Singapore,” said Mr Ong.
“So without higher vaccination rates, the infection numbers will still matter because higher infections can lead to more severe illnesses, especially amongst those who are more vulnerable.”
Singapore’s COVID-19 vaccination rates ‘not high enough’ to provide sufficient protection: Lawrence Wong
SINGAPORE: Singapore’s vaccination rates are currently “still not high enough” to provide sufficient protection in the population, said co-chair of the COVID-19 multi-ministerial task force Lawrence Wong on Friday (Jun 18).
Speaking at a press conference, he noted the views of some people who think that since COVID-19 could be endemic, Singapore should proceed with easing measures as planned and “not overreact to each and every new cluster”.
“I can understand the sentiments behind this, and indeed, we do want to proceed with our reopening more confidently,” said Mr Wong.
“But our vaccination rates currently are still not high enough to provide sufficient protection.”
It was announced on Friday that under Singapore's two-step approach to reopening, dining-in and other higher-risk activities will resume on the target date of Jun 21 - but in groups of two instead of five as previously planned.
The adjustment in plans comes amid a persistent number of unlinked COVID-19 cases, with authorities noting a large cluster around 115 Bukit Merah View Market and Food Centre.
“Regrettably, we are unable to proceed with our second stage of reopening in light of the latest outbreaks and big cluster that we have discovered in Bukit Merah, and now we have to adjust our plans,” said Mr Wong.
ROLE OF VARIANTS
There is also the view that Singapore should push back its reopening to a much later date until COVID-19 cases are consistently near-zero for many days, noted Mr Wong, who is also the Finance Minister.
“This is in fact very hard to achieve, and may not even be possible to do so, given how transmissible that Delta variant is,” he said.
“And if we were to take this approach, it will mean we have restrictive measures in place for many months, which will cause many businesses to fold. So that's not a very realistic option.”
Forty-nine per cent of the population have taken their first doses of vaccination, and “slightly over” 35 per cent are fully vaccinated with both doses, Health Minister Ong Ye Kung said on Friday at the same press conference.
As of Jun 15, more than 4.7 million doses of the COVID-19 vaccination have been administered in Singapore, he added. More than 2.7 million people have received at least one dose of the COVID-19 vaccine.
“And that's not high enough, particularly the full vaccination rates. Our vaccine coverage for the vulnerable groups, the elderly, it's not bad. It's certainly above 60 per cent but still not high enough, especially for those who are above 70 years old. We would like it to be much higher in order to protect our vulnerable groups,” said Mr Wong.
“So if we were to ease our restrictions too early, big clusters can easily break out and overwhelm us and result in higher hospitalisation and even mortality for the vulnerable groups. That's exactly what we are worried about.”
Other countries are facing similar situations. The UK decided to push back its timeline for reopening because of the same concerns, he added.
“And that's why we are not adopting either approach. Instead, we are treading a very careful path forward based on a rigorous assessment of our current situation,” said Mr Wong.
“Hence, we have decided to break up the reopening into two steps. And our main objective with this stage of reopening is to buy time so that we can continue to speed up our vaccination programme.”
F&B outlets and gyms cannot be “opening and closing in tandem” with the number of COVID-19 infections and clusters, said Mr Ong.
“But for us to adopt that approach, our vaccination rates will have to be higher so that all of us are better protected,” he added.
“It will go higher in the coming weeks, and we are vaccinating as fast as we can … We have the capacity to do a lot more, but we are constrained by supplies and how many vaccines arrive in Singapore,” said Mr Ong.
“So without higher vaccination rates, the infection numbers will still matter because higher infections can lead to more severe illnesses, especially amongst those who are more vulnerable.”
from Lawrence Wong facebook:
Had an enjoyable discussion on Mustsharenews.com's Facebook livestream with Fauzi Aziz today.
We discussed Singapore’s efforts against Covid-19, and took questions from those who tuned in. These ranged from dining-in group sizes, to the importance of vaccination in Singapore's reopening, and even how much time I have to unwind after work (very little)!
One question raised was what the MTF considers when it designs safe management measures.
We look at several risk factors:
Activity
Density
Distance
Duration
We study carefully the ways to reduce these risks. That’s why for F&B dining-in, we ask diners to put their masks back on when not eating, and ensure they are one metre apart from the next diners. We also introduced a new no-background music rule so that people will not have to speak loudly over the music, to reduce the risk of aerosolised transmission.
While many of us are excited to dine in again on Monday, let's continue to stay disciplined, and comply with all the safe management measures!
Lawrence Wong
12 hrs ·Had an enjoyable discussion on Mustsharenews.com's Facebook livestream with Fauzi Aziz today.
We discussed Singapore’s efforts against Covid-19, and took questions from those who tuned in. These ranged from dining-in group sizes, to the importance of vaccination in Singapore's reopening, and even how much time I have to unwind after work (very little)!
One question raised was what the MTF considers when it designs safe management measures.
We look at several risk factors:
We study carefully the ways to reduce these risks. That’s why for F&B dining-in, we ask diners to put their masks back on when not eating, and ensure they are one metre apart from the next diners. We also introduced a new no-background music rule so that people will not have to speak loudly over the music, to reduce the risk of aerosolised transmission.
While many of us are excited to dine in again on Monday, let's continue to stay disciplined, and comply with all the safe management measures!
This could be our future PM.
Not all superheroes wear capes. Many fathers play the role of a silent hero, quietly supporting their families by being a provider, a listener, and a problem solver. Many of our fathers (and mothers too!) are also silent heroes at our frontline, lifting the spirits of both family and country up as we continue our battle against Covid-19. The work of our silent heroes is sometimes invisible, but they lay that important foundation to keep us going strong.
We still can’t dine out yet, and though the celebration is scaled down, the love for our silent heroes is immense. I hope all fathers know how deeply we appreciate the role they play in our families and society.
Happy Father’s Day to all!
(In picture: The Chin brothers celebrating a quiet Father’s Day at home)
Lawrence Wong
Yesterday at 21:47 ·Not all superheroes wear capes. Many fathers play the role of a silent hero, quietly supporting their families by being a provider, a listener, and a problem solver. Many of our fathers (and mothers too!) are also silent heroes at our frontline, lifting the spirits of both family and country up as we continue our battle against Covid-19. The work of our silent heroes is sometimes invisible, but they lay that important foundation to keep us going strong.
We still can’t dine out yet, and though the celebration is scaled down, the love for our silent heroes is immense. I hope all fathers know how deeply we appreciate the role they play in our families and society.
Happy Father’s Day to all!
(In picture: The Chin brothers celebrating a quiet Father’s Day at home)
Lawrence Wong
3 hrs ·If your grandparent or parent is a Pioneer or Merdeka Generation senior, they will be receiving MediSave top-ups next month.
Our Merdeka Generation seniors like Mdm Chua Bee Lee will receive $200, which can be used to pay for medical costs.
Pioneers like Mr Ibrahim will receive more annual MediSave top-ups of $250 to $900 from this year. MediSave can help subsidise his monthly medical bills for chronic conditions.
Eligible Singaporeans aged 65 and above this year will also receive an annual MediSave top-up of $150 to $450.
I hope that our seniors will find the MediSave top-ups useful. Seniors are the building blocks of Singapore, working hard through our nation’s earlier years to make us what we are today. Even as we tackle the immediate concerns of the Covid-19 pandemic, we do not forget their hard work and sacrifice.
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