Budget 2022 debate: Seah Kian Peng on tackling rising costs
In Parliament on Tuesday (Mar 1), MP Seah Kian Peng called for a coordinated national effort to keep basic items affordable, through tax incentives or guidelines on specific items. He also urged greater support for small- and medium-sized enterprises (SMEs). Mr Seah said about 57 per cent of local businesses surveyed have already seen their costs rise this year. That is nearly double last year’s figure. Everything has become more expensive, from raw materials to freight, manpower and energy costs. He asked the Government to consider providing one-off grants to trade associations which play an important role in engaging SMEs, as well as to give some flexibility to businesses, especially SMEs, in hiring migrant workers.
In Parliament on Tuesday (Mar 1), MP Seah Kian Peng called for a coordinated national effort to keep basic items affordable, through tax incentives or guidelines on specific items. He also urged greater support for small- and medium-sized enterprises (SMEs). Mr Seah said about 57 per cent of local businesses surveyed have already seen their costs rise this year. That is nearly double last year’s figure. Everything has become more expensive, from raw materials to freight, manpower and energy costs. He asked the Government to consider providing one-off grants to trade associations which play an important role in engaging SMEs, as well as to give some flexibility to businesses, especially SMEs, in hiring migrant workers.
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