17 Feb '12, 2pm

Budget 2012: More subsidies and financial aid for those who need it most

Among the most significant changes were to raise the Central Provident Fund (CPF) contribution rate for older workers by as much as 6 per cent. -- ST PHOTO: CAROLINE CHIA By Aaron Low Deputy Prime Minister Tharman Shanmugaratnam unveiled a slew of new policies and incentives all aimed at helping the less well-off get a leg up. The older workers, lower-income families and the disabled were the groups who most benefited from the Budget. Among the most significant changes were to raise the Central Provident Fund (CPF) contribution rate for older workers by as much as 6 per cent. An enhanced Special Employment Credit would also be paid to firms who employ older workers, thus helping to offset the rise in CPF contribution rates. Also on the cards was a new Goods and Service Tax (GST) voucher scheme which will give cash, Medisave top-ups and utilities rebates to Singaporeans to ...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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