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Resilience Package helps all Sectors
<!-- headline one : end --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> </tbody></table> <!-- START OF : div id="storytext"--> THE $20.5 billion Resilience Package is one of the most sensible, stimulating packages yet by the Government, and perhaps signals the seriousness with which it views the current economic downturn.
Help is spread through all sectors. In particular, the Jobs Credit scheme, which pays employers 12 per cent of the first $2,500 of a worker's pay each month, is unprecedented. It ensures companies' survival by topping up their cash flow and ensuring that they keep staff.
Training subsidies will further enhance employment prospects and stem the ill effects of anticipated retrenchments.
It was also welcome news that small businesses may find it easier to raise much-needed cash with government help, in the face of the paranoia that seems to have gripped banks when disbursing loans.
All these measures will ensure that the supply-side economic situation is taken care of, while demand-side subsidies seem muted, with only goods and services tax credits, income tax rebates, and rebates on rent and service and conservancy charges.
This may raise a minor whimper from Singaporeans, as they may already have tightened their belts but do not see extra cash immediately.
While the Government does not want to go down the same road as Taiwan by giving out vouchers, it has made a serious and aggressive effort to stimulate domestic spending. So Singapore companies will see an immediate improved cash flow, and this may save many retailers from going belly up.
Any survey of retailers will show the dire straits the retail trade is in. It is in need of an immediate injection of cash flow, rather than subsidies that could take a long time to work their way to the retail floor. <!-- end of for each --> <!-- Current Ratings : start --> <!-- Current Ratings : end --> <!-- vbbintegration : start -->
Anil Bhatia
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Resilience Package helps all Sectors
<!-- headline one : end --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> </tbody></table> <!-- START OF : div id="storytext"--> THE $20.5 billion Resilience Package is one of the most sensible, stimulating packages yet by the Government, and perhaps signals the seriousness with which it views the current economic downturn.
Help is spread through all sectors. In particular, the Jobs Credit scheme, which pays employers 12 per cent of the first $2,500 of a worker's pay each month, is unprecedented. It ensures companies' survival by topping up their cash flow and ensuring that they keep staff.
Training subsidies will further enhance employment prospects and stem the ill effects of anticipated retrenchments.
It was also welcome news that small businesses may find it easier to raise much-needed cash with government help, in the face of the paranoia that seems to have gripped banks when disbursing loans.
All these measures will ensure that the supply-side economic situation is taken care of, while demand-side subsidies seem muted, with only goods and services tax credits, income tax rebates, and rebates on rent and service and conservancy charges.
This may raise a minor whimper from Singaporeans, as they may already have tightened their belts but do not see extra cash immediately.
While the Government does not want to go down the same road as Taiwan by giving out vouchers, it has made a serious and aggressive effort to stimulate domestic spending. So Singapore companies will see an immediate improved cash flow, and this may save many retailers from going belly up.
Any survey of retailers will show the dire straits the retail trade is in. It is in need of an immediate injection of cash flow, rather than subsidies that could take a long time to work their way to the retail floor. <!-- end of for each --> <!-- Current Ratings : start --> <!-- Current Ratings : end --> <!-- vbbintegration : start -->
Anil Bhatia
<!---vbbTime (Thread ID: 16467) - Start : Mon, 26 Jan 2009 10:19:41:63--> <script language="javascript"> function readCookieVbb() { var errorString = getURLParam("error"); user=getCookie("HTTP_user_id") luser="" if (user!=null) { luser=user.toLowerCase() if (luser == "anonymous" || luser == "anonymous|anonymous") { window.location= p_logoutLink; } } if(user != null && user !=0 && luser!=null && luser != "anonymous" && luser != "anonymous|anonymous") { document.writeln("<table border='0' width='100%' cellspacing='0' id='story_comments' style='display:none'>") document.writeln("<tr id='comments_body' style='display:none'><td colspan='2'>") document.writeln("<table border='0' width='100%' cellspacing='0'>") document.writeln(" <tr ><td class='heading'>Latest comments</td></tr>") document.writeln(" <tr><td id='messageDisplayRegion' width='100%'></td></tr>") document.writeln(" <tr><td align='right'>» Offensive? Unsuitable? Report comment
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