The Business Times
business-time-50
SINGAPORE BUDGET 2023

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

google-preferred-sourceAdd BT as a preferred source

Mindy Tan &

Janice Tan

Published Tue, Feb 14, 2023 · 09:06 PM
    • While market watchers cheer the additional government support for employee segments that are often overlooked, they say that these measures do not necessarily prepare the workplace for them.
    • While market watchers cheer the additional government support for employee segments that are often overlooked, they say that these measures do not necessarily prepare the workplace for them. PHOTO: BT FILE
    • 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.

    Singapore manpowerSingapore Budget 2023

    TRENDING NOW

    The deal for the sale of Scotts Square mall, just off Orchard Road, is said to be in the early stages of being worked out, at a price of about S$320 million.

    Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The company says the disputes do not cast significant doubt on its viability as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More