Foreign labour curbs too fast, too furious: survey
KPMG poll also shows firms too busy fire-fighting to focus on innovation
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] Two-thirds of businesses polled by KPMG believe the pace of economic restructuring, and in particular, policies to tighten foreign labour inflows, has been "too fast and too furious".
And if findings from KPMG's Pre-Budget 2014 Survey Report are to be believed, companies' attempts to tackle immediate business concerns (such as rising business costs and the manpower crunch) are stymieing their efforts to innovate.
Said Tay Hong Beng, head of tax at KPMG in Singapore: "A lot of businesses are burdened by short-term concerns of costs and labour. And that has come at the expense of value-creation activities (which are) extremely important for businesses in Singapore.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
