IMPROVEMENT RATE FIXED BY S.I.T. FOR 1958

11.47 a.m.

The Assistant Minister for Local Government, Lands and Housing (Mr Tan Theng Chiang): Sir, I beg to move the motion standing in my name.

That this Assembly approves the improvement rate of two 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 (Chapter 259) for the year 1958.

Sir, this rate cannot, by law, exceed 5 per cent on property within the City area. Hitherto the rate has always been two per cent and the Trustees recommend no change in the rate for 1958. 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 monies from this rate, together with an equivalent Government contribution under section 23 of the Singapore Improvement Ordinance, are estimated at $3,150,000 and form one of the major items of revenue of the Trust and are paid into the Improvement Fund. These monies are spent on improvement schemes, the re-housing of persons dis-housed under these schemes, 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.

Mr Chew Swee Kee: Sir, I second the motion.

Question put, and agreed to.

Resolved,

That this Assembly approves the improvement rate of two 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 (Chapter 259) for the year 1958.