Today, the COE price for the Open Category went sky high to $93,000 which works out to at whopping $9,300 license fee just to have the vehicle on the road and mind you, the prices are sky rocketing...
So what I would suggest to the Singapore Government is make the best of the situation and use a Robin Hood scenario where there are sure to make extra income.
For example, have just one COE rate for ALL Cars. Cars below 2000cc pays the same rate. Gas guzzlers or Dirty Technology Vehicles exceeding that (Sports Cars etc) must pay a hefty quantum of one fold for every 1000cc exceed 2000cc or part there of. So for example, a Mercedes 320 would have to pay 4 times the price of the normal COE and they would have their COE limited to 5 years use only, for 'health and safety' plus 'environmental issue' purposes. That would work out to as much as $2Billion or more worth of road duties for the car market. And limit the ownership to only Singapore Citizens. It's our privilege If they lease it out.. their taichi lor. Foreigners can take the cab.
The Public Transport need a rework. Bus operators cannot have more than 500 buses. Thus the need to have more bus companies plying the route and without the need of a huge monopoly. Same principle applies to Taxis. Bring back the old Comfort Owner Driver scheme to help taxi drivers out of poverty.
Allow Taxi Drivers to OWN their own Taxi Cabs. With the existing system, these cabs are limited to ONE DRIVER to One Lifetime of Free COE and Taxes, to relieve the current costs of rental etc. The Open Category is a huge measuring tape of the current cost of taxis and our fares. Each cab is rented out at $120/day or $306,000 over a lifetime of 7 years. This is more than the worth of a 4 room HDB Flat. COE is the huge cost in that chunk. So a Singapore Taxi Driver having driven 5 years or more, can apply for ONE FREE COE Taxi Cab Permit. No Parf or other fees. OMV of a Cab is about $25,000 so the cabby can pass down these savings to your lower fare of say $2.00 flag off? By constricting these means, we have remodelled the public transport by adding 10,000 more taxis and more buses on the street.
Oh yes.. limiting the current 50,000 buses on the street will lower the transport cost, without the need of COE. Savings passed on to the commuters and more income to the Government since fares are GST Chargeable. That is also the same for the cabbies... so no more claims of $7,000 net earnings if not substantiated by the taxi meter.
In the end, we as citizens, save more money and the PAP...get more Pay! Which then when near elections , we get the freebies back again. Tax the foreign talents and the rich silly.. not us....nanti the vote lari!