SEE: A budget for recovery and beyond
While foreign workers will always be needed -especially those with deep skills - he also said that Singapore should moderate its reliance on foreign workers and create good jobs for local workers. The wage credit scheme, which subsidises wage increases given to local employees earning up to $4000, will also be extended for a year at a co-funding level of 15%. The Capability Transfer Programme, which hopes to facilitate capability transfer from foreign specialists to locals, will be extended to end-September 2024. Heng also noted that the Tripartite Workgroup on Lower-Wage Workers has been looking into ways to uplift wages and prospects for these workers. The aspiration, he says, is to introduce some form of progressive wages in every sector of the economy. Details are expected during the Ministry of Manpower’s Committee of Supply (COS). Hopes and fears



