Give families with no car priority for COEs
FAMILIES with young children would be hard hit by rising certificate of entitlement (COE) prices.
The Government should consider splitting commercial and private vehicles into two separate COE categories.
And COEs should be allocated by balloting instead. Families with no car should be given priority.
If a family successfully ballots for its first car, it should pay an additional 10 per cent on top of the price of the car for the COE. For the second car, the family would pay 10 per cent of the total amount for the two cars, and for the third, 10 per cent of the total amount for the three cars.
COEs should not be transferrable unless the car owner opts for an Open category COE and pays a premium.
It would also help if the COE price is not part of the vehicle loan.
These measures would not only help curb the rising price of COEs, but also maintain the population of cars within a manageable range.
Kuah Yeow Teng