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By NISHA RAMCHANDANI
IN a nod to a Budget he described as decisive and beyond expectations, National Trades Union Congress (NTUC) secretary-general Lim Swee Say last night urged union leaders and companies to work together to make full use of the initiatives put in place.
Speaking at a post-Budget session with union leaders, Mr Lim said the government had played its part by rolling out schemes that will help companies cut costs and save jobs.
These, along with the Skills Programme for Upgrading and Resilience (Spur), the flexi-wage system and flexi-work arrangements, could go a long way. 'Now, the ball is in our court,' said Mr Lim, referring to management and unions. 'Let us turn these solutions into Singapore's biggest advantage.'
'A bold and credible Budget for immediate survival and future sustainability. Fiscal prudence pays. Singapore now has the ammunition to tackle this extraordinary economic downturn head on. The government has pulled creative policy levers to resuscitate the flagging economy.'
- Russell Aubrey,
head of tax,
Ernst & Young |
The Budget also got the thumbs up from union leaders. The biggest benefit, said NTUC president John De Payva, is that the Budget cuts across all segments, from 'ordinary workers' to professionals. 'Our only hope is that this recession does not drag too long,' Mr De Payva added.
'The Singapore government's Budget has hit the high notes in building local, regional and global confidence. It's impressive that the government has decided to tap into the rainy day fund to ensure job security - displaying good solid, business fundamentals.'
- Dan McHugh
CEO, DHL Asia-Pacific |
The president of the United Workers of Electronic and Electrical Industries, Francis Lim, said the Budget is extremely generous but there are still areas for improvement.
For example, while the jobs credit scheme gives employers a cash grant amounting to 12 per cent of the first $2,500 for every employee on the CPF payroll, this applies to Singaporeans and Permanent Residents only, said Mr Lim. As such, companies with a large proportion of foreign workers will be left out.
The government could have also helped the electronics industry with the cost of utilities, since 'some of the companies have high energy and water consumption', he added.
Toh Hock Poh, president of Metal Industries Workers' Union, expressed hope that the Budget initiatives will prompt companies to reconsider retrenchment plans.
'Our industry has a lot of skilled workers. Certain skills are specialised. If you're able to retain this workforce, when there is a turnaround companies will be in a better position,' he said.
This article was first published in The Business Times on January 23, 2009.
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