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SINGAPORE: In the first post-Budget public forum held, Singaporeans who attended the session on Friday said they were heartened by the Resilience Package.
Still, some expressed specific worries that the package may not bring the intended benefits to them.
The two hour long session was presided over by the chairman of REACH, Amy Khor, and Acting Manpower Minister, Gan Kim Yong.
Some said while the government's Special Risk-Sharing Initiative is a good move, they worry that it will only benefit a minority of companies, as banks are still the ultimate gatekeepers when issuing loans.
Thus, they hope the government will look into more ways that will encourage banks to ease their credit assessment process and criteria, especially for small and medium-sized enterprises (SMEs).
Another concern raised was that the 40 per cent property tax rebate will only benefit owners and not trickle down to tenants.
Mr Gan clarified that even if this is the case, tenants will still receive many other direct benefits from the government under the Budget, such as lower corporate tax, rental rebates and from the Jobs Credit scheme.
Ultimately, Mr Gan said the package is to make sure companies will refrain from terminating employees and to make local workers more competitive through initiatives like SPUR.
Feedback exercises like this will run till January 30 and the concerns collected will be forwarded to relevant ministries to help them implement and fine-tune policies.
Mr Gan said: "It is important for us to enhance the overall employability of our workers so they are more flexible and adaptable. I think by doing so, we will be able to weather the recession much better. So this Resilience Package is not just for this recession, but for the long-term employability of our workers."
Another hot topic at the forum was the fate of "sandwiched families".
Some felt the package does not do much for those living in 4-room and 5-room flats, and who are tightening their belts in this downturn.
Dr Khor said although the package is weighted towards the lower income earners and that eligibility of assistance is based on the size of flats, the government will push for what is called the "needs-based approach".
Through such an approach, middle income families who face difficulties can still get the assistance as the relevant agencies are open to assessing them on a case-by-case basis.
Mr Gan said the topping up of funds to volunteer welfare organisations and self-help groups in the Budget this year will also help to facilitate this.
- CNA/yt
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