Subsidise graduates but not poor elderly!!!

[besotted]

Philip Yeo the chow ah gua

Graduates can fend for themselves, subsidise!!!

Subsidise the 70-year-old uncle who cleans the hawker centre table you ah gua!




http://www.businesstimes.com.sg/sub/news/story/0,4574,318732,00.html?


Published February 12, 2009

Spring to subsidise fresh grads' salaries
It also wants to rope in more banks for its loan schemes


By ARTHUR SIM

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(SINGAPORE) Spring Singapore is going beyond the call of duty and dipping into its own reserves to help fresh university graduates get jobs.


It has also approached the Monetary Authority of Singapore (MAS) to get more foreign banks on board its enhanced financing schemes like the Loan Insurance Scheme.

Spring Singapore chairman Philip Yeo said that it will soon be announcing a scheme to help some of the fresh university graduates from Singapore's three universities to get jobs.

Speaking on the sidelines of a dialogue session organised by the Singapore Indian Chamber of Commerce and Industry yesterday, Mr Yeo said that Spring intends to encourage companies here to employ fresh graduates by paying 30 per cent of their salaries.

It expects to run this scheme for two years.

Mr Yeo also said that this new initiative will be funded by Spring Singapore and that the funds are not linked to any of the funds set aside by the Singapore Government in the 2009 Budget. 'The money will come entirely from our own reserves,' he said.

The details of how the scheme will work will be announced soon. For now, Mr Yeo could only say that the university graduates can be from any discipline and the companies may be from any business sector.





The amount of funding for this scheme will, however, not likely be more than $15 million.

Giving some background to the idea behind the scheme, Mr Yeo said that in 1999, during his tenure as chairman of the Economic Development Board, he had also initiated a similar scheme to help 500 people study overseas after a local university had decided to cut intakes.

While the budget then was $15 million, Mr Yeo said that Spring's budget to help fresh graduates would not be as big.

Spring could, however, boost the take-up of its financing schemes if appeals to MAS are heard.

Mr Yeo said that it has spoken to MAS about allowing more banks to participate in Spring's financing schemes offered through 14 financial institutions here. Currently, the 14 financial institutions include Singapore's big three banks as well as foreign banks like Maybank and HSBC. While Mr Yeo did not say that the existing participating financial institutions were not offering as many loans as Spring would like, he did say he had approached Japanese and Chinese banks about participating in Spring's financing schemes. 'The Japanese bank was not interested but the Chinese one may be,' he said.

Mr Yeo did not reveal details of his discussions with MAS but said that the matter of allowing more banks to participate in Spring's financing schemes is up to MAS.

Banks from other countries are interested too.

It is understood that at least one other foreign bank, the State Bank of India, has approached MAS about offering more services here, including participating in Spring's financing schemes. MAS is said to be receptive to the idea.

 

[besotted]

THIS FUCKING MAKES MY BLOOD BOIL

Give the aid to the weak - the old and the sick

Give graduates? Philip Yeo has gone mad.

 

[besotted]

This is fucking outright discrimination

and if graduates take it, they prove themselves to be weaklings

 

[Leongsam]

THIS FUCKING MAKES MY BLOOD BOIL

Give the aid to the weak - the old and the sick

Give graduates? Philip Yeo has gone mad.

Giving aid to the old and the sick and the aged is a huge waste of money as they are liabilities to the state and keeping them going just makes them bigger liabilities.

However, assisting graduates is an extremely prudent move as grads are an asset to the country.

I'm glad the PAP govt is doing the right thing by investing time, effort and money on productive members of society who are worthy of assistance. The weak, the old and the sick do nothing for society whatsoever and don't deserve state help.

However, there is nothing stopping family members from helping their aged parents and relatives. All too often, I have come across families who have literally abandoned the very people who raised them. It's shocking. Sinkies should be ashamed of themselves.

 

[KKC007]

I hope this guy has weighed the cons. Subsidising one's education is different from subsidising one's pay.

If this goes through, the the diploma holders will be worst hit. What's the difference in salaries between a fresh grad and a fresh diploma holder? How about a diploma holder with a couple years of working experience?

If I am an employer, I will use this scheme to hire a fresh grad, even for a diploma holder's position. I have 2 years to evaluate this guy.

Graduates from the last 2 years can forget about changing jobs in the next 2 years. Hopefully none of these people were retrenched.

 

[The_Latest_H]

Giving aid to the old and the sick and the aged is a huge waste of money as they are liabilities to the state and keeping them going just makes them bigger liabilities.

However, assisting graduates is an extremely prudent move as grads are an asset to the country.

I'm glad the PAP govt is doing the right thing by investing time, effort and money on productive members of society who are worthy of assistance. The weak, the old and the sick do nothing for society whatsoever and don't deserve state help.

I think its all about fairness, and even if a government simply cannot cover everyone, the more it can help, the better. Countries like Sweden & Denmark are better for it- and economically, and personally- because they take care of all citizens, not just a few and it increases the morale of the people.

Btw Sweden and Denmark are doing better than the US, and even Australia, where a lot of retirees are facing financial difficulties due to the fact that they were allowed to invest part of their pension funds in the stock market, and with the downturn, its not surprising.

However, there is nothing stopping family members from helping their aged parents and relatives. All too often, I have come across families who have literally abandoned the very people who raised them. It's shocking. Sinkies should be ashamed of themselves.

That I agree. And often the reason goes down to the fact that as a people, we need to practice more of what we usually preach. If we are a country that truly values moral values, then we shouldn't just speak about it.

Besides, the basic responsibility of taking care of one's parents usually starts at home, with the main son/daughter who's the main breadwinner. Its not the government first.