21 Jun '11, 12pm

Should HDB introduce a graduated income ceiling, with a varying percentage of subsidy given for various income groups?

I REFER to yesterday's letters by Mr Goh Eng Hwee ('Replace income cap with varied chances') and Mr Ng Ya Ken ('Go for age-specific income ceiling'), which proposed two new ways of implementing the income ceiling for buying HDB flats. May I suggest a third way, which is to introduce a graduated income ceiling scheme with a varying percentage of subsidy given for different income groups. The graduated income ceilings may range from say, $10,000 to $16,000 in three incremental steps of $2,000 each. Citizens with a gross monthly household income of up to $10,000 would be eligible to buy a flat from HDB with 100 per cent subsidy, which is in line with the current practice. Alternatively, they will be eligible for 100 per cent of the CPF housing grant for a family to buy a resale HDB flat. However, for those citizens whose incomes fall within the other three brackets of $10,001...

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