Publication of Public Consultation Exercises for Proposed Revisions to Carbon Tax
Ministry of FinanceSpeakers
Summary
This question concerns the public consultation process for proposed carbon tax revisions and whether a summary of feedback will be published before Budget 2022. Mr Dennis Tan Lip Fong asked if REACH platforms would be used for consultations and if revisions would include targets for 2030. Minister for Finance Lawrence Wong responded that the Government will announce the post-2023 carbon tax levels and expectations up to 2030 during Budget 2022. He highlighted that consultations are ongoing via the Singapore Green Plan 2030 and other platforms to engage the public and businesses on transition trade-offs. The Government will incorporate feedback into its review and provide a summary of relevant points to the public at the appropriate time.
Transcript
68 Mr Dennis Tan Lip Fong asked the Minister for Finance (a) whether it will be publishing on REACH’s platforms any public consultation exercise specifically on revisions to the carbon tax and whether sufficient time will be given to the public to incorporate suggestions before Budget 2022; (b) whether any revision to the carbon tax will also include revisions to the carbon tax target by 2030; and (c) whether a summary of the resulting feedback and responses to the exercise will be provided to the public before Budget 2022.
Mr Lawrence Wong: As the Minister for Finance has indicated at Budget 2021, the Government is currently reviewing our carbon tax and will announce at Budget 2022 the revised post-2023 carbon tax level and indicate what we can expect up to 2030.
Public consultation on the carbon tax has been ongoing as part of engagements under the Singapore Green Plan 2030, which include conversations on the need for a revised carbon tax and the trade-offs involved in our transition to a greener and more sustainable future. NCCS, MTI and agencies will also leverage other platforms, which may include REACH, to engage the public in the lead up to Budget 2022. The Government will also engage businesses on the potential impact of a higher carbon tax and how we can support them in pursuing green growth opportunities.
Feedback received from the consultations will be taken into consideration in the review. The Government will provide a summary of relevant feedback at the appropriate time.