IMPROVEMENT RATE FOR 1957

3.28 p.m.

The Assistant Minister for Local Government, Lands and Housing (Mr Tan Theng Chiang): Mr Speaker, Sir, I beg to move,

That this Assembly approves the Improvement Rate of 2 per centum on the annual value of all houses, buildings, lands and tenements within the City of Singapore, fixed by the Singapore Improvement Trust under subsection (1) of section 22 of the Singapore Improvement Ordinance (Cap. 259) for the year 1957.

Sir, this rate cannot, by law, exceed 5 per cent on property within the city area. Hitherto the rate has always been 2 per cent and the Trustees recommend no change in the rate for 1957. The approval of the Assembly is again required for this rate under the Singapore Improvement Ordinance. This rate, which is in lieu of the Improvement Rate referred to in section 59 of the Municipal Ordinance, is collected by the City Council and paid over half-yearly to the Trust. The money from this rate, together with the equivalent Government contribution under section 23 of the Singapore Improvement Ordinance, is estimated at $2,000,900 and forms one of the major items of revenue of the Trust and is paid into the Improvement Fund. These moneys are spent on improvement schemes, the rehousing of persons dehoused under this scheme, the opening of backlanes, the provision of open spaces in congested areas, and generally on the maintenance of the general improvement plan.

Sir, I beg to move.

The Financial Secretary (Mr T. M. Hart): Sir, I second it.

Question put, and agreed to.

Resolved,

That this Assembly approves the Improvement Rate of 2 per centum on the annual value of all houses, buildings, lands and tenements within the City of Singapore, fixed by the Singapore Improvement Trust under subsection (1) of section 22 of the Singapore Improvement Ordinance (Cap. 259) for the year 1957.