Foreign workers, GST hike keeping SMEs up at night
Minister suggests hiring local labour from young, older, and 'more vulnerable' sectors, and lifting productivity
Add BT as a preferred sourceChan Wai Peng
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Singapore
CONCERNS over coping with foreign manpower cuts and an impending hike in the Goods and Services Tax (GST) remain top of mind for small and medium-sized enterprises (SMEs), with representatives from these businesses asking during a dialogue session how the government could assist them.
The services sector, for example, is set to face progressively tighter foreign worker quotas in the next two years, a move likely to put a squeeze on Singapore companies, which already have difficulty hiring local workers.
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