Budget 2024 debate: Henry Kwek on stronger support for the unemployed
A strong sense of personal responsibility, efficient risk-pooling through insurance and sufficient Government support largely funded by taxes. These are the key components for a multi-tier approach to unemployment support, said MP Henry in Parliament on Monday (Feb 26). He proposed options for those who have lost their jobs, such as a full or partial freeze on housing loans for a limited time to help with cash flow and the availability of Government transfers such as GST rebates ahead of schedule. Mr Kwek said in implementing unemployment support, Singapore must find its own way forward. He also hopes the Government and fellow MPs can think through the cost-of-living implications when passing new laws and regulations or asking for more enforcement. They must bear in mind the regulatory and enforcement cost imposed on society, businesses and the people, he added.
A strong sense of personal responsibility, efficient risk-pooling through insurance and sufficient Government support largely funded by taxes. These are the key components for a multi-tier approach to unemployment support, said MP Henry in Parliament on Monday (Feb 26). He proposed options for those who have lost their jobs, such as a full or partial freeze on housing loans for a limited time to help with cash flow and the availability of Government transfers such as GST rebates ahead of schedule. Mr Kwek said in implementing unemployment support, Singapore must find its own way forward. He also hopes the Government and fellow MPs can think through the cost-of-living implications when passing new laws and regulations or asking for more enforcement. They must bear in mind the regulatory and enforcement cost imposed on society, businesses and the people, he added.
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