Economy & Policy

The initiatives will alleviate cost pressures that businesses face, say observers

In the largest Budget to date, Finance Minister Lawrence Wong warns growth will be harder to achieve

Increased business costs may lead employers to trim hiring, market watchers say

[SINGAPORE] Minimum qualifying salaries for employment pass (EP) and S Pass holders will be raised, said Finance Minister Lawrence Wong in his Budget speech on Thursday (Feb 12).

Rather than show-stopping policies, this year’s spending plan is heavier on targeted moves and extensions of past efforts

S$1 billion will be portioned for the Startup SG Equity Scheme

The missions will focus on four sectors – advanced manufacturing, finance, healthcare and connectivity

Startup funding gets boost, while CPF members will have a new investment option in PM Wong’s first Budget since the General Election

Though estimated expenditure outstrips revenue, net investment returns contribution more than makes up for the shortfall