Singapore Budget 2015 - #17
- Details
- Category: Singapore News
The Transition Support Package (TSP) has been an important source of support to companies since it was launched in 2013.
It has three parts: the Wage Credit Scheme (WCS), Corporate Income Tax (CIT) Rebate, and the Productivity and Innovation Credit Bonus (PIC Bonus).
The TSP is meant to be transitional and is estimated to disburse $7.5 billion over three years to help businesses cope with rising costs as they restructure. The Government will phase out WCS gradually and extend the CIT rebate, but will end the PIC bonus.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #16
- Details
- Category: Singapore News
Singapore’s productivity level today is 13% higher than what it was at the start of our restructuring journey in 2009.
There is a stark difference between productivity growth in industries where our businesses compete internationally, and in those where businesses compete in the domestic market.
Every sector can achieve a lift in productivity. Firms need to rethink business strategies, break the mould by finding new ways of growing their revenue. They can also take advantage of government grants and incentives
Source: MOF #SGBudget2015
Singapore Budget 2015 - #15
- Details
- Category: Singapore News
A key challenge in SkillsFuture is to help uplift a significant base of our SMEs, and involve them in this process of skills development.
To do so, and to help Singaporeans develop their careers across our economy, we need new forms of industry collaboration.
The Government will collaborate with training institutions, unions, Trade Associations and employers to develop comprehensive Sectoral Manpower Plans (SMP) to chart out current and future skills needed and the action plan to develop these skills. This will be developed and implemented in all key industry sectors by 2020.
To help SMEs overcome the constraints they face in training capabilities and capacity, the Government will also work with industry partners to develop a shared pool of SkillsFuture Mentors, who specialise in industry-relevant skills, for SMEs to tap on for their training services.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #14
- Details
- Category: Singapore News
Beyond the SkillsFuture Credit and these broad-based subsidies, the Government will provide special support for Singaporeans seeking to develop deep skills in particular fields through the following three initiatives: SkillsFuture Study Awards, SkillsFuture Fellowships and the SkillsFuture Leadership Development Initiative.
Source: MOF #SGBudget2015
Singapore Budget 2015 - #13
- Details
- Category: Singapore News
Greater support will be provided for mid-career Singaporeans in the form of enhanced subsidies to be implemented later in the year:
First, education and training subsidies for Singaporeans aged 40 and above will increase to a minimum of 90% of the cost of publicly-funded courses by MOE and WDA; and
Second, Singaporeans will be able to enjoy subsidies from MOE for modular courses at all levels, regardless of age.
Source: MOF #SGBudget2015
