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Effectiveness of PIC scheme under scrutiny

Questions raised on gain sharing with workers, S'pore's value proposition as a high-cost country

Lee U-Wen

Published Mon, Mar 3, 2014 · 10:00 PM

[SINGAPORE] While many MPs welcomed the move to enhance the Productivity and Innovation Credit (PIC) scheme and extend it for another three years, some wanted more insight into the effectiveness of the scheme so far.

Speaking on the first day of the Budget debate yesterday, Patrick Tay (Nee Soon) wondered how many employers have actually given their workers a raise after receiving the PIC from the government.

The scheme was introduced in 2…

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