Budget 2023: Analysts hail moves supporting more inclusive hiring, but say more needs to be done

• Progressive Wage Credit Scheme co-funding support enhanced; fund to receive S$2.4b top-up
• Senior Employment Credit and Part-time Re-employment Grant extended to 2025
• New Uplifting Employment Credit to encourage employment of ex-offenders
• Enhancement of Enabling Employment Credit to support hiring of persons with disabilities

EVEN AS market watchers welcomed news of funds aimed at encouraging the hiring of senior workers, persons with disabilities and ex-offenders, they warned that more needs to be done to integrate these groups into the workforce. 

Finance Minister Lawrence Wong on Tuesday (Feb 14) announced that the government would be extending the Senior Employment Credit to continue providing wage offsets to companies that hire senior workers, as well as the Part-time Re-employment Grant, which encourages employers to offer senior workers part-time re-employment, other flexible work arrangements and structured career planning. 

Both schemes will be extended to 2025.