Photo of Lee Hsien Loong from Ministry of Communication and Information

The Land Transport Authority (LTA) announced on Monday (Oct 23) that Singapore will be going for 0% car growth, in line with dictator Prime Minister Lee Hsien Loong’s “car-lite” directive:

“Singapore will stop adding private passenger cars and motorcycles to its roads, dropping the vehicle growth rate from 0.25 per cent to zero per cent, in its latest push towards a car-lite society.”

According to LTA’s latest COE tax pricing, COE prices are as high as S$52,000 for cars and S$4,900 for motorcycles. This is expected to reach a record high following LTA”s announcement, and cause a spiral effect on business costs and cost of living.

Increase of COE prices will pressure cost of living further following a slew of tax hikes including a 30% water price increase, gas price increase, 19% electricity price increase and a coming transport fares increase by year end.

Cost of living in Singapore has consistently been ranked one of the the world’s most expensive cities in the past decade but it ranks lowly on quality of life.