28 Feb '11, 5am

Budget 2011: MPs offer suggestions to help SMEs cope with rising costs

Budget 2011: MPs offer suggestions to help SMEs cope with rising costs

SINGAPORE: Singapore's Parliament has kicked off the debate on the Government's Budget for the financial year 2011-2012. First to speak was the Government Parliamentary Committee chairman for Finance and Trade and Industry, Ms Jessica Tan. Ms Tan described Budget 2011 as an inclusive one with measures that address the concerns of Singaporeans on the rising cost of living, while making investments to strengthen society and build capability to grow real income of Singaporeans. But for businesses, she said there were mixed reactions to the Budget. The rise in foreign workers levy and restoration of the employers' CPF contribution rate by 0.5 per cent were met with some disappointment. Ms Tan said: "While businesses recognise the need to innovate and increase productivity to reduce dependency on low waged foreign workers, and the need to restore the CPF contributions to worker...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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