As published on The Business Times:
THIS WEEK’S TOPIC: As businesses do their part to help contain the spread of the Wuhan coronavirus, how might they strike the right balance between “business as usual” and taking care of the risks?
#SGBudget2020 SME Support Measures[Budget 2020: Stabilising and Supporting our Economy in the Near-Term]
Under the $4 billion Stabilisation and Support Package, we will help our workers retain their jobs, and use any lull period to upgrade their skills, to be ready when the tide turns. We will also help our enterprises to continue transforming, and make sure that their workers benefit.
To help our workers stay employed, we will support enterprises for a part of their wage cost, through introducing a Jobs Support Scheme and enhancing the Wage Credit Scheme.
Some sectors are more directly impacted, including tourism, air transport, as well as related sectors like retail, food services, and land transport.
To help employers in these sectors retain and reskill workers, we will enhance support under the Adapt and Grow initiative, specifically through redeployment programmes in affected sectors.
Taken together with the Jobs Support Scheme, we will support employers to retain and train more than 330,000 workers in these affected sectors. They can make full use of the down time for training and upskilling, to prepare for the recovery.
Ministry of Trade & Industry, Singapore Ministry of Manpower, Ministry of Transport, Singapore will share further details in due course.
#SGBudget2020