Budget includes greater spending on healthcare and public transport as well as higher grants for poorer Singaporeans. Get the roundup here. -Reuters, AsiaOne
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NEWS
S'pore must review its economic model to raise productivity, says one. -BT
Analysts say that they will stand to reap benefits from what is being disbursed. -myp
National Solidarity Party says lack of population plan makes it difficult to assess the adequecy of proposed expansions. -AsiaOne
Especially for the preschool sector, she said that it is important that Singapore provides more accessibility and affordability for parents. -AsiaOne
Moves to increase CPF contribution rates and to offer incentives for employers to hire older workers are good, but it may not benefit all, said the group. -AsiaOne
WHO GETS WHAT
Manufacturing companies will have to cap the percentage of foreigners they hire to 60 per cent of the workforce. -Reuters
Responding to public feedback, the Government said they will be making amendments to two schemes to help businesses refresh their premises and encourage mergers and acquisitions. -AsiaOne
However, young Singaporeans were glad that the Budget focused on the needs of the elderly and low-income earners. -myp
He stressed that the GST voucher, costing $680 million for 2012, will be a long-term feature of Singapore's fiscal system and not a scheme of temporary offsets. -AsiaOne
COMMENTS/ ANALYSIS
Budget in a year of pain and change
Five think this year's Budget will not spare businesses the pain necessary for Singapore to transition into a new phase of productivity-driven, sustainable growth.
Five think this year's Budget will not spare businesses the pain necessary for Singapore to transition into a new phase of productivity-driven, sustainable growth.
Mixed reaction to foreign-worker levy hikes
Fundamental challenges to reducing dependence on foreign workers, said industry players
Fundamental challenges to reducing dependence on foreign workers, said industry players
ALL I WANT FOR BUDGET
SMEs want restoration of Jobs Credit Scheme
Hopes for review of foreign worker policy, wage subsidies or tax incentives for hiring low-income or older citizens.
Hopes for review of foreign worker policy, wage subsidies or tax incentives for hiring low-income or older citizens.
Focus Budget on jobs, productivity in slowdown: firms
CEOs appreciate help in managing rising business costs and tight cashflow too.
CEOs appreciate help in managing rising business costs and tight cashflow too.
Focus is on long term competitiveness: PM
Budget will emphasise sustaining the nation's competitiveness in the long run.
Budget will emphasise sustaining the nation's competitiveness in the long run.
