Government has to consider "striking balance" on Wage Credit Scheme conditions
Acting Manpower Minister Tan Chuan-Jin says the Government had to consider striking a balance on the conditions set to the Wage Credit Scheme.
Speaking to reporters during a community event today, Mr Tan pointed out it would be inefficient if there are too many conditions.
He was responding to concerns raised that the scheme, meant to help companies improve the wages of workers, is too liberal.
Under the Wage Credit Scheme, the Government contributes 40 per cent of the pay increases of Singaporean workers earning a monthly salary of up to 4 thousand dollars.
Mr Tan believes the scheme will help companies alleviate cost pressures within the next three years.
As a result, they will be able to maintain competitiveness and continue creating jobs for Singaporeans.
He adds the Government will review the scheme to decide if it should continue after the three years when the time comes as business cycles are difficult to predict.
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