Budget 2022: SMEs welcome S$500m aid, GST delay but some say it's just band-aid

EVEN as the government had forewarned the weaning off of support measures this year, it has been pragmatic in its approach, businesses and organisations told The Business Times.

They cited the S$500 million Jobs and Business Support Package for small and medium-sized enterprises (SMEs). Satya Ramamurthy, partner and head of infrastructure, government and healthcare at KPMG in Singapore, said Singapore is at the tail-end period of extended support measures and the new support package is fundamentally about dealing with the last period of soft demand.

"If you look at what the Budget is signalling overall, it is that growth is returning, the economy is recovering, and we're beginning to live with the pandemic - it's no longer something holding us back."