Job Saver

Companies will get cash grants of 12 per cent of the first $2,500 of wages of each employee on its CPF payroll to encourage employment. Up to 18,000 public-sector jobs to be added over the next two years.

Unfreezing Credit

Government to shar 80 per cent of new bank lending to all local businesses and foreign SMEs from Feb 1 for one year.
Loans of up to $5 million and up to four years maturity to qualify, including the refinancing of existing loans.

Business Bonus

corporate tax cut to 17% from 18%. 40% property tax rebate for industrial and commercial properties for 2009.
Rental rebates for tenants of government owned properties. Tax breaks to allow firms to claim cash refunds on taxes paid in previous years.

Household Help

Personal tax rebate of 20%, up to $2000, for 2008 income. Double GST Credits, to be paid out in March and July. $40% ptoprty tax rebate for owner-occupied residential properties for 2009. Public housing rental and fee rebates.

For Charity's Sake

Tax deduction for donations made in 2009 to Institutions of Public Character (IPCs) and other approved institutions raised to 250% from 200%. Increased funding for voluntary welfare organisations, self-help groups and grassroots organisations.

Pump-priming

Up to $20 billion to be spent on public construction projects this year. Further development of regional commercial nodes such as Jurong Lake District, Kallang Riverside and Paya Lebar Central.

Long Term

More spending on education, health care, initiatives to support marriage and parenthood, and sustainable development initiatives such as energy efficient technology.

This article was first published in The Business Times on January 23, 2009.