Tharman Shanmugaratnam, Cost of Living

Car loan curbs not permanent but necessary for now: Tharman

The new curbs on motor vehicle loans will not apply to those who are physically disabled as well as their caregivers for one car, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Thursday.

This follows calls by MPs to ensure that this group can still have access to a car to get around.

In his speech rounding up the Budget debate, Mr Tharman also said the loan restrictions are not permanent and will be reviewed later depending on market developments, but are necessary for now to keep a lid on inflation.

He added that car prices made up one-fifth to half of inflation measured by Consumer Price Index in the past three years.