Monday, October 3, 2011

Govt set to curb vehicle population

Singapore's vehicle growth rate is set to be revised downwards this month to further limit vehicle growth.

Transport Minister Lui Tuck Yew told this to reporters on Tuesday but did not reveal the exact figure.

The current growth rate stands at 1.5 per cent.

The cut is likely to send the prices for certificates of entitlements even higher than current levels. Car prices are expected to increase as a result.

Explaining the move, Mr Lui said Singapore has limited space for new roads.

He said the current vehicle growth rate had to be revised to a more sustainable level.

The growth rate determines the number of new cars on the road is one of the instruments that the Government manages vehicle population.

The policy takes into account the number of vehicles scrapped and…

The quota was last reduced in 2009 -- it was halved from three per cent to the current 1.5 per cent.

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