Results of productivity push under question
Take-up rate of PIC scheme, especially among smaller firms, needs to improve
[SINGAPORE] So much has been spent to achieve apparently so little - it could well be time to take stock of just how effective the help rolled out by the government has been in boosting productivity levels here.
A closer look at the business community's hopes for Budget 2014 reveals that most are not asking for additional help through new schemes, but for tweaks to the ones already in place, so as to boost their efficacy and potency.
The foremost of these is the Productivity and Innovation Credit (PIC) scheme, first introduced in 2010. It offers 400 per cent tax deductions and cash payouts to businesses that spend on productivity-related investments, including staff training, automation, and research and development.
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