14 Oct '11, 1pm

Government to slash vehicle growth rate to 0.5% in 2012

Government to slash vehicle growth rate to 0.5% in 2012

The Government has decided to reduce the annual vehicle population growth rate to 0.5 per cent, from the current 1.5 per cent. -- ST PHOTO: FRANCIS ONG By Christopher Tan The Government has decided to reduce the annual vehicle population growth rate to 0.5 per cent, from the current 1.5 per cent. The new rate will take effect in 2012, from August. In releasing details of what Transport Minister Lui Tuck Yew spoke about last week, the Land Transport Authority said on Friday that the current 1.5 per cent annual cap will remain for the first half of the new COE quota year starting in February. Thereafter, it will be brought down to 0.5 per cent till January 2015. And after that, it will be subject to another review. The LTA said the lowering of the growth ceiling is not expected to have a big impact on certificate of entitlement (COE) supply in the next few years, citing 'an ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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