In his Budget 2023 speech, Deputy Prime Minister and Finance Minister Lawrence Wong said that cars with an OMV (the approximate cost of a car before taxes) higher than $80,000 will incur an additional registration fee (ARF, or the main car tax) of 320 percent from 220%.

Will it stop the rich in their tracks? Or will such cars be even more exclusive now that they are more expensive to buy? We speak to Dr. Walter Theseira, Associate Professor, Economics, Singapore University of Social Sciences to get his insights on the subject.

In his Budget 2023 speech, Deputy Prime Minister and Finance Minister Lawrence Wong said that cars with an OMV (the approximate cost of a car before taxes) higher than $80,000 will incur an additional registration fee (ARF, or the main car tax) of 320 percent from 220%.
Will it stop the rich in their tracks? Or will such cars be even more exclusive now that they are more expensive to buy? We speak to Dr. Walter Theseira, Associate Professor, Economics, Singapore University of Social Sciences to get his insights on the subject.

From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what’s happening — and what’s worth your attention.

Start your day with the stories shaping Singapore — and your place in it.

Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what’s happening — and what’s worth your attention.

And it’s not just talk — it’s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let’s Talk, Singapore keeps you informed, connected, and ready for the day ahead.

Start your day with the stories shaping Singapore &mdash; and your place in it.
Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what&rsquo;s happening &mdash; and what&rsquo;s worth your attention.
And it&rsquo;s not just talk &mdash; it&rsquo;s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let&rsquo;s Talk, Singapore keeps you informed, connected, and ready for the day ahead.

Let's Talk, Singapore with Neil Humphreys and Audrey Siek

Why It Matters: Will luxury car taxes really affect the wealthiest in Singapore?