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The Business Times
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Published: 3rd Mar 2014

 
What stood out in the 2014 Budget for your company or industry?
What more can or should be done to meet specific business or socio-economic needs at this juncture?

MANY people have welcomed the 2014 Budget for its inclusion of initiatives to strengthen the social safety net for Singaporeans and ease the cost burden of the lower and middle income groups in particular. The highlight of the Budget was the $8 billion Pioneer Generation Package comprising healthcare benefits for senior Singaporeans, which I personally think is a great initiative to help the elderly in our midst.

For the business community, the Budget offers enhanced measures to help companies increase their productivity via the PIC extension and PIC+ scheme, as Singapore continues on its challenging journey towards economic restructuring.
One of the most pertinent issues in our recruitment industry is labour shortage so businesses are generally relieved that there were no additional tightening measures on the manpower policies (except for the construction sector). However, I would have liked to see even more assistance given to companies, especially the SMEs, to help address this major challenge.
 
Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

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