REACH 193 - How you benefit from covid Budget so far (SK)
16 Feb 2021 (11am - 7pm)
REACH
[9:16 am, 16/02/2021] +REACH: Watch Budget 2021 live from 3pm: 6 things to look out
This year's Budget will be unveiled on Tuesday (Feb 16) as Singapore continues to tackle the Covid-19 pandemic and its economic fallout.
More: https://www.straitstimes.com/singapore/singapore-budget-2021-6-things-to-look-out-for-on-feb-16
[11:27 am, 16/02/2021] +REACH: Budget 2021 to focus on strengthening social compact, innovation and sustainability: DPM Heng
This means finding new ways to innovate and transform the economy, said Deputy Prime Minister and Finance Minister Heng Swee Keat in a Facebook post on Monday (Feb 15) ahead of his Budget statement on Tuesday.
More: https://www.straitstimes.com/singapore/politics/emerging-stronger-together-budget-to-focus-on-strengthening-social-compact
[11:35 am, 16/02/2021] +REACH: Dear contributors,
Welcome back! π
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Thank you
Megan π
[11:36 am, 16/02/2021] +REACH: Budget measures to combat Covid-19 last year helped cushion the recession, saved or created some 155,000 jobs over 2020 and 2021, and shaved the rise in unemployment rate by 1.7 percentage points.
The Government set aside almost $100 billion to cope with the pandemic, with most of the funds used to support businesses and help workers keep their jobs.
π’ Topic π’
π¬ How have you benefitted from the Budget measures so far?
πhttps://www.straitstimes.com/singapore/singapore-budget-2021-6-things-to-look-out-for-on-feb-16
πhttps://www.straitstimes.com/singapore/politics/covid-19-budget-measures-helped-cushion-recessions-impact-save-jobs-finance
----
[11:39 am, 16/02/2021] +NATs: How have we benefitted is one thing, how we'll be expected to give back is another, more interesting point
[11:46 am, 16/02/2021] +Caleb: π€
[11:52 am, 16/02/2021] +Timothy Low: Did the rich get richer and the poor get poorer during COVID?
[11:57 am, 16/02/2021] +Ben: People want a safe place to put their money. People with money spend less during a pandemic. People invest more in their home, since they work there now!
[11:58 am, 16/02/2021] +Kevinn Wang: Good one! Many forget u take u need to give back . There is nothing in this world is really free except for the air u breathe for now
[11:59 am, 16/02/2021] +Ben: It'll take a lot to pay back $60+bn, if we usually have a surplus of $2-5bn
[11:59 am, 16/02/2021] +Berny: Air we breathe in isn't exactly free, they comes from the trees, plants and others that are still alive
[0:00 pm, 16/02/2021] +Kevinn Wang: Thus how much more the people want to dig. Chinese saying Gold hill dig dig will be come no hill and flat land
[0:02 pm, 16/02/2021] +Kevinn Wang: This recent time a couple of our source incomes had been choke. We have to be far sighted
[0:03 pm, 16/02/2021] +Kevinn Wang: At least sg is good many still have jobs, have jobs means a good percentage still can have the spending power to drive the society....
[0:04 pm, 16/02/2021] +Kevinn Wang: So the last budget was crafted well to support the line of defense for society thus am not expecting the same for this afternoon maybe got angbao still but much smaller scale.
[0:05 pm, 16/02/2021] +Rama: Angbao will come with conditions i am expecting
[0:06 pm, 16/02/2021] +Kevinn Wang: Must else the money will be misuse
[0:06 pm, 16/02/2021] +Kevinn Wang: Already the safety net put out had been misused by public and corp
[0:07 pm, 16/02/2021] +Kevinn Wang: This marred the good intent planned
[0:07 pm, 16/02/2021] +Rama: It has happened in the past!
[0:08 pm, 16/02/2021] +Kevinn Wang: Happy budget listening hopefully the knife is kinder on us this weak financial year
[0:08 pm, 16/02/2021] +Rama: π€£π π
[0:54 pm, 16/02/2021] +Sam: We know that there is only so much we can get from our people, even a 2% increase generates so much kpkb. I guess we got to squeeze from the super rich. Bring in more multi billionaire to set up family offices maybe one of the solutions. They will also buy expensive house means more tax.
[1:34 pm, 16/02/2021] ☸️ Danny εΏ:
The successive covid Budgets come at the right time last year.
Everyone in Singapore receive something from the covid budgets - and the Budgets help us one way or another.
The following are some people that I know and feedback that I collected from the ground who benefitted from the various covid Budgets :-
1. Tourism sector is the hardest hit - whereby many people are released. I know of someone who have to jump from short-term jobs to jobs to keep afloat. The Budget helps to provide short-term financial assistance to these tourism people in between jobs to tie over - while trying to secure jobs.
Finally the tourism voucher helps, as some tourism sector re-engage their previous staff who have been retrenched to rejoin the companies to service the "revitalise" tourism sector.
2. Aviation sector is another hardest hit sector - where many people in these sectors are let go and others who stay behind have to take hefty pay cut.
The Budget provide financial assistance to Companies in the aviation sector to keep afloat and to transform their business.
As a result, aviation MRO transform to convert passenger airfreight to cargo air frieght - and this help to keep the airlines afloat, as well as keep engineering and technical service staff afloat.
Also Companies transform their operation by pooling the various separate Business Units engineering division into a Central Engineering Division (specialist unit) - that not only service aviation sector, but also other transport sectors --- hence securing jobs not only for aviation sector, but also enabling sector that are hit by the pandemic with redundant engineering staff to service sectors that are in high demand and badly required the service of engineering expertise.
3. Covid Budget emphasize Innovation and provide fund to spur R&D. As a result,
- Banks have been actively train existing and new staff to be train and exploit R&D in "digital banking" and "mobile apps service". This has help to transform bank staff skillsets to embrace "digitalisation" in banking as well as transform traditional banking functions to digitalisation.
- More Companies - public and private companies have been providing Scholarship for R&D to spur innovation within their Enterprise - that will strengthen our competitiveness - as it will help to transform business as well as transform staff skillsets.
4. Budgets to co-fund interships with Companies - has helped many fresh graduates to gain employment upon leaving Universities and Polytechnics. This temporary measures has helped to provide jobs to fresh graduates upon graduation and provide them income - while the Economy tie over the pandemic.
Hopefully, when the pandemic is over soon, more permanent jobs that are relevant to their training in Universities and Polytechnics - can be secured for them.
Helps will be required by the Government in tandem with Union and Enterprises to make this work.
5. Everyone in Singapore have received some cash benefits from the covid Budget to alleviate our day to day living expenses - as many of us are somewhat impacted by the lockdown and restriction impose to combat the pandemic. It comes as a relief - and many thanks to the Budgets.
6. Lastly free vaccination, if dispense to all population in Singapore will greatly help to curb and end the pandemic.
[1:36 pm, 16/02/2021] +Rama: Luxury tax!?
[1:41 pm, 16/02/2021] +Ken: As compare to many countries our tax consider relatively low, below 30k almost no income tax.
Is a balancing game for government to meet the needs of people, without heavily taxing.
If complete with diploma most of us earn and live quite well. As compared, we get to travel overseas, buy iPhone and make choices in life.
[1:42 pm, 16/02/2021] +Ken: The billionaire that came to Singapore mainly also due to tax being very low
[1:43 pm, 16/02/2021] +Rama: This i don't expect to change.
[1:46 pm, 16/02/2021] +Alvin: we welcome billionaires to come to sg
[1:46 pm, 16/02/2021] +Alvin: they will spend and it will help our economy
[1:47 pm, 16/02/2021] +Ken: Yah part of the reason why we have so low tax.. see they buy house like no need money like that π±
[1:48 pm, 16/02/2021] +Alvin: i think the founder of Dyson bought and sold his property at a lost
[1:48 pm, 16/02/2021] +Alvin: but we still benefit cos of the taxes and property agent etc
[1:48 pm, 16/02/2021] ☸️ Danny εΏ:
1. However with the Economy set to recover, as we vaccinate and more sectors are progressively doing well - the coming Budget should be more targeted - and this seems to be direction the Government is taking. This will help to ensure fiscal prudence.
2. It is important we should refrain from digging into the reserve again - as far as possible - as we need to keep our reserve intact so that it will help us to earn and accumulate more passive income from our shrewd and careful investment from our Sovereign Fund.
By digging into our reserves to fund recurrent government spending will hurt our Sovereign Fund capabilities to generate and create more wealth for us.
3. Notice that Temasek Holdings and GIC have been very proactive to expand investment in many strategic assets - while the World market is in a limbo state due to the pandemic - it help us to accumulate very strong strategic assets with good earning potential - will help us to generate more incomes in the near and distant future.
4. The recent buoyant financial market could be a good news for us. Our Sovereign Funds could have earn good income for us - and provide us strong earning in NIRC (Net Income Return Contribution) - that can help us to fund this year Government Spendings - to cushion the lesser tax collected by us - due to the pandemic.
5. If we are still short fall in Government Revenue to cover our Government Spendings this year - we may want to consider issuing Govenment Bonds to finance long-term projects (such as those Climate Sustainability projects, or our train projects etc) ---- as interest rate is near zero now.
We should not be digging into our reserves from Sovereign Funds - as we are earning good income from our Capital in Sovereign Funds. Else we will deplete our Capitals in the Sovereign Funds and lose our earnings from the Funds ---- while we pay almost zero interest from borrowing to issuing Bonds.
[1:49 pm, 16/02/2021] +Sam: I think he paid a lot of taxes. Stamp duty, ABSD, seller stamp duty, property tax etc
[1:50 pm, 16/02/2021] +Ken: Anyone here participated in the budget talk?
[1:50 pm, 16/02/2021] +Ken: I apply got in and didn’t able to make it due to work haiz
[1:51 pm, 16/02/2021] +NATs: I don't feel like joining ESC anymore lol I ESCape from ESC but they have one session this Friday, 19 Feb
[1:52 pm, 16/02/2021] ☸️ Danny εΏ:
So many participants in the live talk, very hard to get your feedback across.
WhatsApp platform better, can elaborate.
[1:52 pm, 16/02/2021] +Rama: Yes
[1:53 pm, 16/02/2021] +NATs: Have you joined one?
[1:53 pm, 16/02/2021] +Rama: Point 5 for me.
[1:54 pm, 16/02/2021] ☸️ Danny εΏ:
Also zoom resolution seems quite bad.
Alot of latency and jitter.
Either the image freeze or audio cannot deliver properly.
4G still not good enough - maybe 5G better.
[1:54 pm, 16/02/2021] ☸️ Danny εΏ:
Nope.
[1:56 pm, 16/02/2021] +NATs: Then you don't know how it's like
Even though I only joined the inaugural session, I found it insightful to hear from others
The facilitator of my group was great too, it was overall a great experience
[1:57 pm, 16/02/2021] ☸️ Danny εΏ:
Ok.
But not for me as per now.
[1:58 pm, 16/02/2021] +NATs: I would've loved to join one MOE one which I was invited to but like Ken, schedule didn't accommodate otherwise I had lots to talk about studying as a part-time student
[2:00 pm, 16/02/2021] ☸️ Danny εΏ:
Feedbacks received from people on the ground concerning Vaccination against covid
1. Through conversation with quite a number of people, notice that many people is convinced to take their vaccination when their turns come.
2. But quite a sizeable of minority are not supportive of vaccination :-
a. A group is fearful of vaccination :-
- some a elderly who feel that they are weak and on long-term medication - they are afraid that their body cannot take it or they may experience some side effects that trigger their fear.
- news about Norway where some nursing home elderly pass away - even though it is proven that their demise are not related to the vaccination. But this fear strike home.
- some younger or mature people are sceptical about what the vaccines will bring in terms of adverse effects in the short term, medium term and long term
- yet some prefer to wait and see how the rest of the people who are vaccinate react to the vaccines before they decide to vaccinate.
- some are hardcore group that don't believe in vaccination - no matter what.
b. Some groups cannot be vaccinated :-
- Those who react adversely to the vaccines (eg. allergy trigger by PEG of the mRNA vaccines)
- Young children 16 years and below.
- Pregnant women and breast-feeding.
3. Pondering the big numbers and letting it go, it becoming disturbing and worrying - as it will still pose a pubic health problem - if Sngapore fail to address the vaccination for the unvaccinated group.
---------
[2:00 pm, 16/02/2021] ☸️ Danny εΏ:
Consequences of sizeable minority not taking vaccination
1. To achieve herd immunity against original covid (less contagious) - 80% of the resident population need to be vaccinated.
- This mean 4.48 million of population need to be vaccinated.
- 1.12 million people will not be vaccinated.
2. To achieve herd immunity against more contagious mutant covid strains (like UK B117 strain, SAfrica strain, Brazil strains) - 90% of the resident population need to be vaccinated.
- This mean 5.04 million of population need to be vaccinated.
- 560,000 people will not be vaccinated.
3. Those people unvaccinated form a large group to be secured and protected against infection - when we open up our Economy to the World - when the vaccination exercise is over ---- a very large surface area to secure.
4. The large unvaccinated group, a large surface area to secure ---- will have put tremendous stress on our hospital facilites, strike fear among the Community and impact Economic recovery and opening up of the borders - if infection spread among the unvaccinated.
5. Thus this is no longer an issue of allowing a large group of people who are fearful or those who refuse to get vaccination - to roam freely.
6. Because if the World pandemic is not over and the covid totally defeated and demise, there is a possiblity that those unvaccinated may get infected - and spread among those unvaccinated in the Community.
7. Thus, the issue now become a matter of not adopting a lay-back reactive approach to let the population decide on their own vaccination (though I am not suggesting the government is operating in this mode) - especially those who are not willing to get themselves vaccinated.
8. A more systematic approach to coax, convince and get the unvaccinated group - to get vaccinated may become necessary.
----
[2:00 pm, 16/02/2021] ☸️ Danny εΏ:
Approach to coax and secure vaccination for unvaccinated group
1. Onion analogy
- To get to the core of the onion, there is a need to peel "layer by layer" until all the outer layers are peel off - we can finally see the "core".
- Likewise, to convince those unvaccinated groups to get vaccinated - we need to adopt the "onion approach" ---- peeling their resistance "layer by layer" to get to the core - and finally relent and agree.
2. Layer-by-layer approach
Among the approaches we can adopt to convince "anti-vaxx" group to vaccinate :-
- TV, mainstream media, social media streaming of health experts, artistes, Government of encouraging people to get vaccinated, allay people's fear in vaccination etc.
- Other family members try to convince those who are fearful of vaccination.
- Send Government officers, health officers or experience volunteers to coax and convince elderly, as well as others who are unwilling to vaccinate to get vaccinated.
- Get the rest of the family members vaccinated - and when they see there are no harm or danger cause by the vaccines - it may finally convince them to vaccinate.
3. Prod and find the "right key" to open the "hard" "heart" "lock"
- Visit and re-visit for those hardcore unvaccinated group - by trying to find the "right key" to open their heart and finally relent.
- Remember, even with one unvaccinated - it will still pose a risk to the Community for the virus to latch on - and re-infect the Community.
- It is thus important to discover their "fear", "pain points" or "what really concern them about the vaccination" - and address them "head-on" to get the unvaccinated groups sign on for the vaccination.
4. Learn from other Countries who are speeding and forging ahead and reaching herd immunity - how they convince their "anti-vaxx" group to vaccinate :-
- Countries like Israel has completed vaccinating about 60% of their population - and now finding more challenging to get into the last 40% who are providing resistance to the vaccination.
- We can learn from Israel how they achieve "herd immunity" by persuading and convincing the last 40% to vaccinate.
- The Israel approach in breaking down hardcore "anti-vaccination" group - can be our case studies - that we can adopt and apply it for our needs.
- Likewise, UK and US (coming up) ---- are also forging ahead in their vaccination --- and similarly we can learn from them --- how they approach the "anti-vaxx" hardcore to get them vaccinated.
5. Exploring alternatives for those groups that cannot be vaccinated.
- For those who are fearful of needle vaccination, may want to consider the oral vaccines currently under trial - and if successful use it as part of our vaccination programme.
Eg. Vaxart oral COVID-19 tablet vaccine
https://www.contagionlive.com/view/vaxart-has-developed-the-first-oral-investigational-covid-19-vaccine
- For the group that are Anaphylaxis - allergy to mRNA vaccine using PEG coating - use
other type of non-mRNA vaccines eg. inactivated virus vaccine, viral vector vaccines, protein sub-unit vaccine.
- For the children below 16 years old - use vaccines that are successful after trial for children (eg. Sinopharm is safe and effective for children between 3 years to 17 years, Pfizer-BioNtech, Moderna - on trial for children below 16 years and 18 years old respectively).
- For pregnant women and breast-feeding - Israel and US have vaccinated against pregnant women successfully (but should also weigh ---- should vaccination be done on pregnant women --- or wait for 9 months after delivery then vaccinate.
As for women doing breast-feeding, can vaccinate but refrain from breast-feeding for 7 days will suffice.
6. I thus suggest the Government to give due consideration to this vaccination strategy for the unvaccinated group among our population ---- so that we can restart our Economy, open up our borders and attract business, tourists and business travellers safely.
================
[2:02 pm, 16/02/2021] +Caleb: Most of my peers that I asked in the 30s are not going to take.
[2:02 pm, 16/02/2021] ☸️ Danny εΏ:
I know, that's why I write.
[2:05 pm, 16/02/2021] ☸️ Danny εΏ:
The government may have to consider using the techniques used in smallpox vaccination, BCG vaccination, Help B vaccination etc - to convince people to vaccinate.
We must not fail in our covid-19 vaccination efforts.
[2:15 pm, 16/02/2021] +Kevinn Wang: Govt have to understand, the fear is from global news where they had been too many of such cases being open in the social media.
[2:15 pm, 16/02/2021] +Kevinn Wang: to say those are not factual then why are the manufacturers not coming out to clear up the air. live only 1... injection is 2x anything can happen ... is not about being compensated or not. Free inoculation for the better who do not want ya?
[2:15 pm, 16/02/2021] +Kevinn Wang: this is unlike flu / bcg / chiken pox vaccine
[2:15 pm, 16/02/2021] +Kevinn Wang: thus this portion it sure takes more than word of mouth to convince
[2:17 pm, 16/02/2021] +Caleb: https://youtu.be/Sp0g40-pjk0
The sound is getting from bad to worst.
[2:18 pm, 16/02/2021] +Stella Yip: Hmm... There are people around me from young to old (above 80) eager to have the vaccination but not yet receive letter. So perhaps should let those who are eager to have it first.
[2:20 pm, 16/02/2021] +Caleb: Can register ur interest. https://www.vaccine.gov.sg/
[2:20 pm, 16/02/2021] +Thomas: For me, I will take the vaccination to protect my love ones
[2:20 pm, 16/02/2021] +Ken: ?
[2:20 pm, 16/02/2021] +Caleb: Cracking sound
[2:21 pm, 16/02/2021] +Stella Yip: Great, thanks!
[2:24 pm, 16/02/2021] +NATs: So early for what
Of course early people testing ma
[2:25 pm, 16/02/2021] +Caleb: This one is live parliament la. Not budget
[2:26 pm, 16/02/2021] +NATs: Orh chey maybe they eating crackers like that Onion News Network video la π
[2:26 pm, 16/02/2021] +Kevinn Wang: got pros and cons for early vaccine
[2:26 pm, 16/02/2021] +Kevinn Wang: like for frotn liners in essential industry - i give them the support to do it
[2:27 pm, 16/02/2021] +Kevinn Wang: on a safer aspect is there some test that can be done to eliminate complications thus instilling further confidence in people
[2:27 pm, 16/02/2021] +Kevinn Wang: also with at least 4-5 manufactures in the market now each claiming to be the best but with one having more adverse effects which one den is really beneficial ?
[2:54 pm, 16/02/2021] +REACH: Holding WEF meeting in Singapore will send 'strong signal of confidence' in country's ability: Alvin Tan
The World Economic Forum (WEF) Special Annual Meeting being held here will send a "strong signal of confidence" in Singapore’s ability to host major international events in a "safe and innovative way", Minister of State for Trade and Industry and Culture, Community and Youth Alvin Tan said in Parliament on Tuesday (Feb 16).
More: https://www.channelnewsasia.com/news/singapore/holding-wef-meeting-in-singapore-will-send-strong-signal-of-14207944
[3:02 pm, 16/02/2021] +REACH: https://www.youtube.com/watch?v=F161wh6rJaE
[3:21 pm, 16/02/2021] +REACH: Budget 2021: Govt extends Jobs Support Scheme by up to 6 months; sectors to get 10-30% tiered wage subsidies
Wage subsidies under the Jobs Support Scheme (JSS) will be extended by up to a further six months to help businesses that remain badly hit by the Covid-19 pandemic to retain workers, Deputy Prime Minister Heng Swee Keat said on Tuesday (Feb 16).
More: https://www.straitstimes.com/singapore/budget-2021-govt-extends-jobs-support-scheme-by-up-to-6-months-sectors-to-get-10-30-tiered
[3:29 pm, 16/02/2021] ☸️ Danny εΏ:
Great to see Industry Transformation Maps are going strong - and shaping how each industry sectors as well as our workers evolve, transform and growing stronger and more relevant to the Industrialisation 4.0 and future.
[3:30 pm, 16/02/2021] +Bobby Tan: I registered. Thanks.
[3:39 pm, 16/02/2021] +Caleb: tim ho wan is singapore brand?
[3:42 pm, 16/02/2021] +Wilson Leong: Bring in by singaporean
[3:43 pm, 16/02/2021] +Caleb: Thanks
[3:43 pm, 16/02/2021] +Caleb: the video by CNA is echoing..
[3:45 pm, 16/02/2021] +REACH: Budget 2021
Additional $870m to help battered aviation sector : https://www.straitstimes.com/singapore/budget-2021-additional-870mto-help-battered-aviation-sector-more-aid-for-land-transport
55,000 people have received both doses of Covid-19 vaccine: https://www.straitstimes.com/singapore/budget-2021-55000-have-received-both-doses-of-covid-19-vaccine
$11b to support three-pronged approach to help Singapore bounce back from Covid-19 : https://www.straitstimes.com/singapore/budget-2021-11b-to-support-three-pronged-approach-to-help-singapore-bounce-back-from-covid
[3:54 pm, 16/02/2021] +REACH: Budget 2021
▶️ Tim Ho Wan saves three to five man-hours daily thanks to automation process: https://www.straitstimes.com/singapore/budget-2021-tim-ho-wan-saves-three-to-five-man-hours-daily-thanks-to-automation-process
▶️ Local companies can access co-funding schemes to transform, digitalise : https://www.straitstimes.com/singapore/budget-2021-tim-ho-wan-saves-three-to-five-man-hours-daily-thanks-to-automation-process
[3:59 pm, 16/02/2021] +REACH: Budget 2021
▶️ Father of two took up traineeship to develop skills in deep-tech sector : https://www.straitstimes.com/singapore/budget-2021-father-of-two-took-up-traineeship-to-develop-skills-in-deep-tech-sector
▶️ Scheme in offing to transform construction, real estate value chain : https://www.straitstimes.com/business/economy/budget-2021-scheme-in-offing-to-transform-construction-real-estate-value-chain
[4:09 pm, 16/02/2021] +REACH: S Pass quota for foreign workers in manufacturing to be cut to 15% by 2023
From Jan 1 next year, firms in the manufacturing sector can only have up to 18 per cent of their workforce be foreign workers on S Passes.
This quota will be further cut to 15 per cent from Jan 1, 2023.
The overall quota - comprising workers on work permits and S Passes - for manufacturing will remain at 60 per cent.
More : https://www.straitstimes.com/singapore/budget-2021-s-pass-quota-for-foreign-workers-in-manufacturing-to-be-cut-to-15-by-2023
[4:17 pm, 16/02/2021] +REACH: Budget 2021
▶️ Singapore households to receive $900m financial support package, including $100 CDC vouchers: https://www.straitstimes.com/singapore/budget-2021-singapore-households-to-receive-900m-financial-support-package-including-100
▶️ Govt aspires for every sector of economy to have 'some form of progressive wages': https://www.straitstimes.com/singapore/politics/budget-2021-govt-aspires-for-every-sector-of-economy-to-have-some-form-of
▶️ Target to support hiring of 200,000 locals this year under SGUnited Jobs and Skills Package : https://www.straitstimes.com/singapore/budget-2021-target-to-support-hiring-of-200000-locals-this-year-under-sgunited-jobs-and
▶️ 14,000 low-income families to benefit from ComLink over next two years : https://www.st…
[4:34 pm, 16/02/2021] +Rama: Likewise
[4:35 pm, 16/02/2021] +REACH: Budget 2021
▶️ 14,000 low-income families to benefit from ComLink over next two years : https://www.straitstimes.com/singapore/budget-2021-14000-low-income-families-to-benefit-from-comlink-over-next-two-years
▶️ Healthcare workers to get pay rise for exemplary commitment : https://www.straitstimes.com/singapore/budget-2021-healthcare-workers-to-get-pay-rise-for-their-exemplary-commitment
▶️ $20m fund to match ComChest donations raised through spontaneous acts of giving : https://www.straitstimes.com/singapore/budget-2021-20-million-fund-to-match-comchest-donations-raised-through-spontaneous-acts-of
▶️ New $60m agri-food cluster transformation fund to boost local production through technology : https://www.straitstimes.com/singapore/budget-2021-20-milli…
[4:35 pm, 16/02/2021] +Alvin: Green bonds I like that
[4:36 pm, 16/02/2021] +Ken: Can buy arh?
[4:38 pm, 16/02/2021] +Alvin: The agri food link is wrong
[4:38 pm, 16/02/2021] +Alvin: https://www.straitstimes.com/singapore/budget-2021-new-60m-agri-food-cluster-transformation-fund-to-boost-local-production
[4:39 pm, 16/02/2021] +NATs: Climate bonds is an interesting subject, I attended a webinar by Climate Bonds International before
[4:40 pm, 16/02/2021] +Alvin: Not specifically stated but my guess is a small portion of the tranche will be sold in retail market
[4:40 pm, 16/02/2021] +Alvin: Just like Temasek Bonds like that
[4:40 pm, 16/02/2021] +Alvin: It is indeed interesting
[4:43 pm, 16/02/2021] +Ken: $250k how many people have π
[4:44 pm, 16/02/2021] +NATs: There's also potentially more talk about ESG stocks too
[4:44 pm, 16/02/2021] +Caleb: hmmm
[4:45 pm, 16/02/2021] +Alvin: Sg will be the first country to totally fund for own green industry internally
[4:51 pm, 16/02/2021] +REACH: Budget 2021
▶️ Govt to issue some $19b of green bonds on select public infrastructure projects : https://www.straitstimes.com/singapore/budget-2021-govt-to-issue-some-19b-of-green-bonds-on-select-public-infrastructure-projects
▶️ Some govt agencies to make early switch to chillers using refrigerants with low-global warming potential : https://www.straitstimes.com/singapore/budget-2021-some-govt-agencies-to-make-early-switch-to-chillers-using-refrigerants-with
▶️ Singapore to dip into reserves for second year to fund $11 billion Covid-19 package : https://www.straitstimes.com/singapore/budget-2021-singapore-to-dip-into-reserves-for-second-year-to-fund-11-billion-covid-19
▶️ Petrol duties raised with immediate effect, road tax rebates to help offset increa…
[4:59 pm, 16/02/2021] +Rama: Wonderful
[5:01 pm, 16/02/2021] +REACH: Budget 2021
▶️ GST hike to take place between 2022 and 2025, 'sooner rather than later', says DPM Heng : https://www.straitstimes.com/singapore/budget-2021-gst-hike-to-take-place-between-2022-and-2025-sooner-rather-than-later-says-dpm
▶️ S'pore to impose GST on goods bought online imported by air or post : https://www.straitstimes.com/singapore/budget-2021-spore-to-impose-gst-on-goods-bought-online-imported-by-air-or-post
[5:03 pm, 16/02/2021] +Dong Liang: Luckily it is with immediate effect. If it starts tommorrow, all will queue up at petrol station tonight.
[5:05 pm, 16/02/2021] +NATs: For electromobility, I sure hope gahmen knows how to plan it out well and know when to start reducing incentives and so on
Basically we need a thorough review of the entire e-mobility ambition and not just blindly follow the world as I've preached before
[5:07 pm, 16/02/2021] +REACH: Budget 2021
▶️ Singapore may need to dip further into reserves to invest in future economy : https://www.straitstimes.com/singapore/budget-2021-singapore-may-need-to-dip-further-into-reserves-to-invest-in-future-economy
▶️ Expected deficit of $11b in 2021 with continued efforts to tide Singapore over Covid-19 crisis : https://www.straitstimes.com/singapore/budget-2021-expected-deficit-of-11b-in-2021-with-continued-efforts-to-tide-singapore-over
▶️ Govt to issue up to $90b in new bonds to finance infrastructure like MRT lines and tidal walls : https://www.straitstimes.com/singapore/politics/budget-2021-govt-to-issue-up-to-90b-in-new-bonds-to-finance-infrastructure-like
[5:09 pm, 16/02/2021] +NATs: Eh tbh hor I don't mind our MRT line expansion slowing down or even stopping
Channel those funds to O&M better
[5:10 pm, 16/02/2021] +Caleb: what is o&M?
[5:10 pm, 16/02/2021] +Ken: Lol was about to ask
[5:10 pm, 16/02/2021] +NATs: Operation & Maintenance
[5:10 pm, 16/02/2021] +NATs: If not everyday I receive complaints
[5:10 pm, 16/02/2021] +Caleb: thought now improve liao
[5:10 pm, 16/02/2021] +Ken: Oh... lol problem left by Mdm Saw
[5:10 pm, 16/02/2021] +NATs: I came I saw I left lmaooo
[5:10 pm, 16/02/2021] +Caleb: with the new buses, now not so jerky liao
[5:11 pm, 16/02/2021] +NATs: Improve?? No la broken cables called improve??
[5:11 pm, 16/02/2021] +NATs: Jerky as in?
[5:12 pm, 16/02/2021] +CQ: wah kns... petrol duties increased!
[5:13 pm, 16/02/2021] +Ken: Give you one year to convert lol
[5:13 pm, 16/02/2021] +Suma Pamu: Surprised
No news related to Propertyπ
[5:13 pm, 16/02/2021] +Eunice Chia: Motorcyclists will be given a 60 per cent road tax rebate for a year, and up to $80 of additional petrol duty rebate, depending on the engine capacity.
Taxi and private hire drivers will be given a 15 per cent road tax rebate for a year, and $360 of additional petrol duty rebate over four months.
Goods vehicles and buses will be given a 100 per cent tax rebate for a year, while cars using petrol will be given a one-year tax rebate of 15 per cent.
All road tax changes will be applicable for a one-year period from Aug 1, 2021 to July 31, 2022.
[5:14 pm, 16/02/2021] +Rama: ππ€£π
[5:15 pm, 16/02/2021] +Caleb: some drivers like stop and go, cause many people to have motion sickness
[5:15 pm, 16/02/2021] ☸️ Danny εΏ:
A bit disappointed that we still have to dig into reserves, but luckily a small one $1.7 billion from a total of $52 billion to $53.7 billion.
[5:16 pm, 16/02/2021] +Caleb: π
[5:17 pm, 16/02/2021] +REACH: Govt will review carbon tax rate, which will remain at $5 per tonne until 2023
The trajectory and level of the carbon tax after 2023 will be reviewed by the Government in consultation with industry and expert groups, Deputy Prime Minister Heng Swee Keat said on Tuesday (Feb 16).
Details of the review will be announced during next year's Budget (2022) to give time for businesses to adjust to any revisions, he said. But, for now, the carbon tax level will be maintained at $5 per tonne of greenhouse gas emissions, as previously announced, said Mr Heng, who is also Finance Minister.
More : https://www.straitstimes.com/singapore/budget-2021-government-will-review-carbon-tax-rate-which-will-remain-at-5-per-tonne-until
[5:18 pm, 16/02/2021] +Ken: https://mothership.sg/2021/02/online-shopping-gst-from-1-jan-2023/
My taobao going to be tax π₯²π₯²
[5:18 pm, 16/02/2021] ☸️ Danny εΏ:
Fortunately, the budget deficit of $11 billion deficit is smaller than thought.
When our economy recovers, I think we can achieve a balance budget.
[5:19 pm, 16/02/2021] +CQ: oh no......... no more cheap korean skincare.........
[5:19 pm, 16/02/2021] +NATs: What does this have to do with rail O&M?
[5:20 pm, 16/02/2021] +NATs: taobao become taxbao π
[5:20 pm, 16/02/2021] +Ben: Yes, agreed.
[5:21 pm, 16/02/2021] +Ben: This is fair and good for our local retailers
[5:21 pm, 16/02/2021] +Ken: Lol... but even with the tax local retailers are still selling much much more
[5:21 pm, 16/02/2021] +Ken: So a bit hard
[5:21 pm, 16/02/2021] +Ken: Local have so much cost
[5:22 pm, 16/02/2021] +Ken: Governing just try to recover some money only
[5:22 pm, 16/02/2021] +NATs: That's true, so who suffer? Lol
[5:22 pm, 16/02/2021] +Ben: We need a level playing field and while I don't want to pay more, I am OK with paying what's fair.
[5:22 pm, 16/02/2021] +CQ: i'm pretty sure the taxes collected are not going to the brick-and-mortar retailers.....
[5:22 pm, 16/02/2021] +Eunice Chia: agree. for our local retailers.
[5:23 pm, 16/02/2021] +Ken: Err down the road we suffer lor... cause no local shop will survive in the long run
[5:24 pm, 16/02/2021] +Ken: But we have to think on the long run, we also can earn from overseas just how we need to learn to innovate lor..
transhipping value adding.. no matter what somehow we have to do something... the tax just to drag abit to have some funds back from going overseas
[5:25 pm, 16/02/2021] +NATs: I also dunno how local retailer earn, do they actually earn much? Something is lucrative until majority gets into it then market saturated
[5:26 pm, 16/02/2021] +Ben: Why are they waiting 2 years??
[5:26 pm, 16/02/2021] +Ken: So let you have time to think of what’s next
[5:26 pm, 16/02/2021] +Ken: A lot of people do such business in Singapore also reselling to other places
[5:26 pm, 16/02/2021] +Ben: No, but it evens the price up so we buy more locally.
[5:26 pm, 16/02/2021] +Caleb: need time to implment ma
[5:27 pm, 16/02/2021] +Caleb: implement
[5:27 pm, 16/02/2021] +Ben: Wow, takes 2 years...
[5:27 pm, 16/02/2021] +NATs: But what's the point to force people to buy locally if local costs are obviously higher than overseas like best example out there, China?
[5:28 pm, 16/02/2021] +Ben: I see your point. I guess if we don't want a local retail industry then sure just buy from wherever.
[5:28 pm, 16/02/2021] +Kevinn Wang: Good to keep it small and hope we can top it back slowly but steadily
[5:28 pm, 16/02/2021] +Caleb: I think the point is want to collect more $$$
[5:28 pm, 16/02/2021] +Ben: However, why should local retailers have to pay 7% and overseas one not have to pay?
[5:28 pm, 16/02/2021] +Caleb: to fund
[5:29 pm, 16/02/2021] +Ben: Should be GST for the goods, not where they are bought from.
[5:29 pm, 16/02/2021] +Caleb: ya
[5:29 pm, 16/02/2021] +Kevinn Wang: put it this way they are doing this to help substain the local retail also
[5:29 pm, 16/02/2021] +Ben: Other wise it's a Singapore retail tax, not a good tax
[5:29 pm, 16/02/2021] +Caleb: so from 2023, is GST for everything
[5:29 pm, 16/02/2021] +Caleb: no more loophole
[5:29 pm, 16/02/2021] +Kevinn Wang: these again is we teach them one
[5:29 pm, 16/02/2021] +Ben: Yes, fair
[5:29 pm, 16/02/2021] +Kevinn Wang: everyone cheap cheap buy from oversea
[5:30 pm, 16/02/2021] +Kevinn Wang: so local retail complain also
[5:30 pm, 16/02/2021] +Kevinn Wang: den after observation they saw the holes
[5:30 pm, 16/02/2021] +Rama: π€·♂️
[5:30 pm, 16/02/2021] +NATs: But if I win something and it's <$400 I still have to pay GST? Sad sia
[5:31 pm, 16/02/2021] +Caleb: ya
[5:31 pm, 16/02/2021] +Caleb: to add into the numbers of total scam
[5:31 pm, 16/02/2021] +Caleb: lol
[5:31 pm, 16/02/2021] +Kevinn Wang: u win something from oversea usually is a scam hahahaha
[5:31 pm, 16/02/2021] +Kevinn Wang: like dear xxxx u win 1 million dollars from a dead client i recently handled
[5:31 pm, 16/02/2021] +Kevinn Wang: hahahahahaha
[5:32 pm, 16/02/2021] +Stella Yip: Is it just for import? What about export? Will other countries retaliate? If so, will local exporting biz suffer??
[5:34 pm, 16/02/2021] +NATs: You guys all don't catch my drift
There are indeed legitimate contests where you can win stuff, last time I won an Intel NUC (for those who remember)
The price was >$400 so I had to pay $65 GST so understandable luh but what if I win (or redeem) something like say a notebook and they send from overseas, I kena charged for that?? No way mann
[5:34 pm, 16/02/2021] +Caleb: this one, the sponsor of the prize can pay first ma
[5:35 pm, 16/02/2021] +Caleb: not necessary the receiver pay the GST
[5:35 pm, 16/02/2021] +NATs: Ya they pay for shipping, GST is "local taxes"
[5:35 pm, 16/02/2021] +Kevinn Wang: i think sponsor price is all paid for already
[5:35 pm, 16/02/2021] +Kevinn Wang: unless is cheapo company
[5:35 pm, 16/02/2021] +NATs: I understood the NUC thing already, I'm putting forth a hypothesis now
[5:35 pm, 16/02/2021] +Caleb: unless u won a car
[5:35 pm, 16/02/2021] +Kevinn Wang: like how many cars prizes ahhh win the car but coe not included
[5:35 pm, 16/02/2021] +Caleb: then excluded COE
[5:36 pm, 16/02/2021] +Kevinn Wang: something like that hahahaha
[5:36 pm, 16/02/2021] +NATs: Cuz recently I finally got the 2 notebooks I redeemed from NXP
Mind you, they are writing notebooks, not computer notebooks LOL
[5:36 pm, 16/02/2021] +Kevinn Wang: note book ahhh gst few cents hahahaha
[5:36 pm, 16/02/2021] +Caleb: how about parcel send as gifts?
[5:36 pm, 16/02/2021] +Caleb: also need tax?
[5:37 pm, 16/02/2021] +Bobby Tan: I believe everything imported needs to pay GST
[5:37 pm, 16/02/2021] +NATs: But like stupid ma HAHAHA
[5:40 pm, 16/02/2021] +Kevinn Wang: gifts i think no need but they will depend on the declare amount
[5:43 pm, 16/02/2021] +REACH: π¬ ICYMI: Budget 2021 π¬
π¬ ICYMI: Budget 2021 π¬
1️⃣ Budget 2021: Govt extends Jobs Support Scheme by up to 6 months; sectors to get 10-30% tiered wage subsidies : https://www.straitstimes.com/singapore/budget-2021-govt-extends-jobs-support-scheme-by-up-to-6-months-sectors-to-get-10-30-tiered
2️⃣ Additional $870m to help battered aviation sector : https://www.straitstimes.com/singapore/budget-2021-additional-870mto-help-battered-aviation-sector-more-aid-for-land-transport
3️⃣ 55,000 people have received both doses of Covid-19 vaccine: https://www.straitstimes.com/singapore/budget-2021-55000-have-received-both-doses-of-covid-19-vaccine
4️⃣ $11b to support three-pronged approach to help Singapore bounce back from Covid-19 : https://www.straitstimes.com/singapore/budget-2021-11b-to-support-three-pronged-approach-to-help-singapore-bounce-back-from-covid
5️⃣ Tim Ho Wan saves three to five man-hours daily thanks to automation process: https://www.straitstimes.com/singapore/budget-2021-tim-ho-wan-saves-three-to-five-man-hours-daily-thanks-to-automation-process
6️⃣ Local companies can access co-funding schemes to transform, digitalise : https://www.straitstimes.com/singapore/budget-2021-tim-ho-wan-saves-three-to-five-man-hours-daily-thanks-to-automation-process
7️⃣ Father of two took up traineeship to develop skills in deep-tech sector : https://www.straitstimes.com/singapore/budget-2021-father-of-two-took-up-traineeship-to-develop-skills-in-deep-tech-sector
8️⃣ Scheme in offing to transform construction, real estate value chain : https://www.straitstimes.com/business/economy/budget-2021-scheme-in-offing-to-transform-construction-real-estate-value-chain
9️⃣ S Pass quota for foreign workers in manufacturing to be cut to 15% by 2023 : https://www.straitstimes.com/singapore/budget-2021-s-pass-quota-for-foreign-workers-in-manufacturing-to-be-cut-to-15-by-2023
π 14,000 low-income families to benefit from ComLink over next two years : https://www.straitstimes.com/singapore/budget-2021-14000-low-income-families-to-benefit-from-comlink-over-next-two-years
1️⃣1️⃣ Healthcare workers to get pay rise for exemplary commitment : https://www.straitstimes.com/singapore/budget-2021-healthcare-workers-to-get-pay-rise-for-their-exemplary-commitment
1️⃣2️⃣ $20m fund to match ComChest donations raised through spontaneous acts of giving : https://www.straitstimes.com/singapore/budget-2021-20-million-fund-to-match-comchest-donations-raised-through-spontaneous-acts-of
1️⃣3️⃣ New $60m agri-food cluster transformation fund to boost local production through technology : https://www.straitstimes.com/singapore/budget-2021-20-million-fund-to-match-comchest-donations-raised-through-spontaneous-acts-of
1️⃣4️⃣ New measures to narrow cost difference between electric cars and conventional cars : https://www.straitstimes.com/singapore/budget-2021-new-measures-to-narrow-cost-difference-between-electric-cars-and-conventional
1️⃣5️⃣ Govt to issue some $19b of green bonds on select public infrastructure projects : https://www.straitstimes.com/singapore/budget-2021-govt-to-issue-some-19b-of-green-bonds-on-select-public-infrastructure-projects
1️⃣6️⃣ Some govt agencies to make early switch to chillers using refrigerants with low-global warming potential : https://www.straitstimes.com/singapore/budget-2021-some-govt-agencies-to-make-early-switch-to-chillers-using-refrigerants-with
1️⃣7️⃣ Singapore to dip into reserves for second year to fund $11 billion Covid-19 package : https://www.straitstimes.com/singapore/budget-2021-singapore-to-dip-into-reserves-for-second-year-to-fund-11-billion-covid-19
1️⃣8️⃣ Petrol duties raised with immediate effect, road tax rebates to help offset increased costs : https://www.straitstimes.com/singapore/budget-2021-petrol-duties-raised-with-immediate-effect-road-tax-rebates-to-help-offset
1️⃣9️⃣ GST hike to take place between 2022 and 2025, 'sooner rather than later', says DPM Heng : https://www.straitstimes.com/singapore/budget-2021-gst-hike-to-take-place-between-2022-and-2025-sooner-rather-than-later-says-dpm
2️⃣0️⃣ S'pore to impose GST on goods bought online imported by air or post : https://www.straitstimes.com/singapore/budget-2021-spore-to-impose-gst-on-goods-bought-online-imported-by-air-or-post
2️⃣1️⃣ Singapore may need to dip further into reserves to invest in future economy : https://www.straitstimes.com/singapore/budget-2021-singapore-may-need-to-dip-further-into-reserves-to-invest-in-future-economy
2️⃣2️⃣ Expected deficit of $11b in 2021 with continued efforts to tide Singapore over Covid-19 crisis : https://www.straitstimes.com/singapore/budget-2021-expected-deficit-of-11b-in-2021-with-continued-efforts-to-tide-singapore-over
2️⃣3️⃣ Govt to issue up to $90b in new bonds to finance infrastructure like MRT lines and tidal walls : https://www.straitstimes.com/singapore/politics/budget-2021-govt-to-issue-up-to-90b-in-new-bonds-to-finance-infrastructure-like
2️⃣4️⃣ Govt will review carbon tax rate, which will remain at $5 per tonne until 2023 : https://www.straitstimes.com/singapore/budget-2021-government-will-review-carbon-tax-rate-which-will-remain-at-5-per-tonne-until
[5:44 pm, 16/02/2021] +Alvin: this one really ICYMI
[5:44 pm, 16/02/2021] +Alvin: total summary of everything lol
[5:45 pm, 16/02/2021] +REACH: π’ Topic π’
π¬ Which Budget 2021 measure resonates with you?
[5:46 pm, 16/02/2021] +Kevinn Wang: why no good
[5:46 pm, 16/02/2021] +Kevinn Wang: support the company for another 2 quater means alot
[5:47 pm, 16/02/2021] +Kevinn Wang: i work in a company where it was claim the support scheme save them millions to the extend they can pass these saving to our clients
[5:47 pm, 16/02/2021] +Kevinn Wang: it helps to keeps job and keep jobless low - keeping job means our society still have spending power
[5:48 pm, 16/02/2021] +Kevinn Wang: is better than a society where jobless rate is up, no spending power , business closing -> chaos ...
[5:56 pm, 16/02/2021] +Alvin: Green initiatives and green/infra bonds. It’s time we go green and fund our own projects that future generations will benefit.
[5:59 pm, 16/02/2021] +Bobby Tan: Jobs Support Scheme and Wage Credit Scheme will definitely help those companies that not doing well some relief. SGUnited is also a very good initiative.
[7:22 pm, 16/02/2021] ☸️ Danny εΏ:
This year Budget 2021 has notably addressed the following :-
1. Fund Vaccination and healthcare against covid
2. Protect and retain jobs - by providing targeted financial assistance (JSS) to badly affected industry sectors eg. tourism, aviation and to lesser impacted sectors like retail, nightspots.
3. Provide fund to help to further transform business and create transformed jobs by reskilling workers and develop skills in deep tech sectors - through ITM.
4. Fund and create new industry sector like high tech agri-food sector, retool construction, and real estate value chain - and thereby creating new jobs for Singaporeans.
5. Address Income Inequality - by providing cash benefits to lower-income group and HDB dwellers.
6. Invest in Green Sustainability infrastructure - to tackle Global Climate and provide tax incentive for green cars vis-a-vis traditional cars.
7. Strive to achieve fiscal prudence with long term goal to achieve balanced Budget.
Eg.
- very small drawout from reserves ($1.7 billion),
- $11 billion budget deficit (whereby $11 billion is used to tackle covid to ensure social resiliency. If covid pandemic is over, this $11 billion no longer applied and we will have a balanced budget).
- Green Bonds are employed to exploit the "near zero" interest to fund our investment in Green Infrastructure and MRT projects.
- To raise GST from 7% to 9% to maintain fiscal resiliency (though unpopular). Hope GST relief can be given to lower and middle income group - who suffer under it.
- To implement GST on eCommerce online purchase which is now tax-free - to plug "tax loopholes" and discover an alternative revenue source for the Government.
- To levy carbon tax to boost our financial revenue and encourage Enterprise to go green.
[7:28 pm, 16/02/2021] +Ben: I understand Green Cars are not a silver bullet, but a step in the right direction.
https://www.todayonline.com/singapore/budget-2021-petrol-duty-hiked-23-singapore-takes-fresh-steps-combat-climate-change
[7:30 pm, 16/02/2021] ☸️ Danny εΏ:
But one thing seems to be missing in the Budget 2021 :-
"Did every Ministries setup a business unit - to assist the respective industry sectors" as mention below :-
[0:12 pm, 23/11/2020] ☸️ Danny εΏ:
2. Help business to tap the myriad of FTAs eg. CPTPP, RCEP, and other FTAs to grow their overseas business - and create jobs for Singaporeans.
3. Help business to transform into digitalisation and e-commerce - to complement traditional business. And hence create new jobs for Singaporeans.
4. Encourage business to join their respective business association.
5. Corresponding Ministries should engage the respective industry - in deep engagement similar to ITM engagement to help business transform.
Engagement should be in the form of :-
a. Monthly meeting to discuss how industry and business can transform its business can change to cater not only to domestic market but also overseas markets.
b. Ministries can provide more information about FTAs, overseas business partners, oversea markets, overseas buyers, suppliers, etc to help local business to penetrate. IE, EDB etc can help to facilitate.
c. Organise targeted industry specific seminars, conference, exhibition etc to tie up local business to overseas business to open up new business opportunities.
d. Facilitate training, consultancy services, to help business and its workers to exploit new business opportunities and job opportunities.
[0:15 pm, 23/11/2020] ☸️ Danny εΏ:
Ministries engagement should not be a one-off affair.
It should be a continuous engagement.
Thus individual Ministries must setup a business unit with strong focus in industry engagement that helps the respective industry to grow and tap not only local market, but also regional markets and global market.
[7:36 pm, 16/02/2021] +REACH: π #ICYMI π: Budget 2021
π Recorded Budget Speech https://www.facebook.com/MOFsg/videos/271592734386929/?vh=e
➡️ COVID-19 Resilience Package : https://www.facebook.com/MOFsg/posts/4090983044259266
➡️ Emerging Stronger, Together: https://www.facebook.com/MOFsg/posts/4090992030925034
➡️ Emerging Stronger as an Economy : https://www.facebook.com/MOFsg/posts/4091012520922985
➡️ Innovate, Transform, and Scale: https://www.facebook.com/168442899846653/posts/4091022997588604/?d=w
➡️ Developing Singapore’s Human Capital : https://www.facebook.com/MOFsg/posts/4091045864252984
➡️ Household Support Package: https://www.facebook.com/MOFsg/posts/4091062287584675
➡️ Equal Opportunities for All : https://www.facebook.com/MOFsg/posts/4091077547583149
➡️ Emerging Stronger as a Community: https://www.facebook.com/168442899846653/posts/4091091010915136/?d=w
➡️ Technology as a Game Changer to Climate Change : https://www.facebook.com/168442899846653/posts/4091103994247171/?d=w
➡️ Driving the transition to a car-life society: https://www.facebook.com/168442899846653/posts/4091117517579152/?d=w
➡️ Developing green finance to enable sustainability efforts : https://www.facebook.com/168442899846653/posts/4091133177577586/?d=w
➡️ Balancing between short and Long term needs: https://www.facebook.com/168442899846653/posts/4091143197576584/?d=w
➡️ GST extended to Low-value goods from 1 Jan 2023: https://www.facebook.com/168442899846653/posts/4091150337575870/?d=w
➡️ Significant Infrastructure Government Loan Act (SINGA): https://www.facebook.com/168442899846653/posts/4091160034241567/?d=w
➡️ Emerging Stronger, Towards a Sustainable Future for All: https://www.facebook.com/168442899846653/posts/4091198374237733/?d=w
[7:46 pm, 16/02/2021] ☸️ Danny εΏ:
1. Wonder how many companies in Singapore really exploits the myriad of FTAs that our government have secured?
2. With ITM and digital transformation of our Enterprises - SMEs, GLCs, Big Local Enterprises etc can tap online platform to do business with enterprises worldwide and help our local businesses to grow.
3. Thus, if the Ministries setup a business unit each in conjunction with each lTM industry sectors, to help the businesses under each ITM to reach out under the myriad of FTAs - then our economy will grow significantly.
[7:53 pm, 16/02/2021] ☸️ Danny εΏ:
1. And if revenue and profit grow, our Government can collect more taxes - as many of our Enterprises revenue and profit are derive overseas under the armbit of FTAs (no longer confine to our local domestic market) - make possible by the FTAs.
[8:45 pm, 16/02/2021] +REACH: Dear Contributors!
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan
[9:00 pm, 16/02/2021] +REACH: Dear Contributors,
Thank you for valuable feedback, we are encouraged by your active discussion. π
We will be closing this chat for now and will resume tomorrow.
Stay tuned!
Megan π
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