‘Smarter’ regulation needed to embrace disruption
Embracing disruption does not mean fewer or no government regulations, National Development Minister Lawrence Wong said yesterday. Rather, the approach should be towards “smarter” rules.
Embracing disruption does not mean fewer or no government regulations, National Development Minister Lawrence Wong said yesterday. Rather, the approach should be towards “smarter” rules.
“I think if we move simplistically towards (an approach where) more disruption, more change mean the Government should just roll back everything and regulate less, I’m not sure that we will achieve better outcomes,” he said, in response to a reporter’s question on how the Government would balance the need for regulation while being open to disruption in various industries.
Speaking at the launch of the Committee on the Future Economy report, Mr Wong, who co-chaired the Subcommittee on the Future City, added: “But we do need smarter regulation. So it’s not about less, but smarter, more effective regulations — regulations that are pro-business but at the same time balance the needs of different stakeholders, including Singaporeans.”
Earlier this week, Parliament passed laws on Monday to disallow the use of residential properties as short-term accommodation.
But in a nod to home-sharing platforms such as Airbnb, Mr Wong said in Parliament that the authorities are considering a new building-use category for private residences to operate as short-term rental apartments. They are also mulling over a reduction in the minimum rental period of six months.
Separately, laws were also passed on Tuesday to require private-hire car drivers from ride-sourcing service operators such as Uber and Grab to obtain a vocational licence, under amendments to the Road Traffic Act. TAN WEIZHEN