IMPROVEMENT RATE OF TWO PER CENTUM FOR 1959

12.00 p.m.

The Assistant Minister for Local Government, Lands and Housing (Mr Tan Theng Chiang) (for the Minister for Local Government, Lands and Housing): Mr Speaker, Sir, with your permission, 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 1959.

Sir, this rate cannot by law exceed five per centum on property within the City area. Hitherto, this rate has always been two per centum and the Trustees recommend no change in the rate for 1959. The approval of this 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 the equivalent Government's contribution under section 23 of the Singapore Improvement Ordinance, are estimated at $3.53 million 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 such as the rehousing of persons, the opening of back-lanes, the provision of open spaces in congested areas, and generally on the maintenance of the general improvement plan.

Sir, I beg to move.

Inche Mohamed Sidik Bin Haji Abdul Hamid: Sir, I beg to second the motion.

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 1959.