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Effectiveness of PIC scheme under scrutiny
Questions raised on gain sharing with workers, S'pore's value proposition as a high-cost country
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Lee U-Wen
Published Mon, Mar 3, 2014 · 10:00 PM
[SINGAPORE] While many MPs welcomed the move to enhance the Productivity and Innovation Credit (PIC) scheme and extend it for another three years, some wanted more insight into the effectiveness of the scheme so far.
Speaking on the first day of the Budget debate yesterday, Patrick Tay (Nee Soon) wondered how many employers have actually given their workers a raise after receiving the PIC from the government.
The scheme was introduced in 2010 and gives tax deductions or cash grants when they invest to boost their productivity.
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