Manpower moves to watch in Budget 2023

BESIDES unemployment support, other possible manpower announcements in Budget 2023 include enhancements to a scheme for the lower-income and tweaks to the Central Provident Fund (CPF) framework.

Progressive wages for more

The tripartite Progressive Wage Model (PWM) could be expanded to cover more workers and sectors. Economist Kelvin Seah from the National University of Singapore noted that several low to middle-income sectors – such as repair of computers, personal and household goods, and vehicles – are not yet covered by the policy.

Another group is skilled non-degree holders, such as Institute of Technical Education graduates, whose incomes are stagnating, said Singapore University of Social Sciences associate professor Walter Theseira. “They could also be targeted – and I think that is the most likely expansion route – but one would have to be much more careful about the potential trade-offs as the wage floors get higher.”