Budget 2024 debate: Keith Chua on supporting SMEs and the welfare of Singaporeans
Singapore needs to ensure that small- and medium-sized enterprises (SMEs) continue to thrive and to encourage entrepreneurship to stay vibrant and relevant. Innovative entrepreneurship can come from the intentional support of budding social entrepreneurs, said NMP Keith Chua in Parliament on Monday (Feb 26). He said some of the new and enhanced funding provided under the Budget should be allocated to suitable social entrepreneurial initiatives that do not seek solely commercial returns but also achieve social objectives. On the issue of Singaporeans who have been involuntarily unemployed due to physical and mental incapacitation and may have fallen through the gaps, he wanted to know if the Government will review how help can be delivered to as many of these individuals as possible. Turning to retirement adequacy, he asked if larger local companies which are doing well can continue to step up and lead the way to meaningful engagement and employment of seniors. He also wanted to know if a scheme similar to the Overseas Humanitarian Assistance Tax Deduction Scheme could be considered for humanitarian projects that provide and scale global clean water solutions.
Singapore needs to ensure that small- and medium-sized enterprises (SMEs) continue to thrive and to encourage entrepreneurship to stay vibrant and relevant. Innovative entrepreneurship can come from the intentional support of budding social entrepreneurs, said NMP Keith Chua in Parliament on Monday (Feb 26). He said some of the new and enhanced funding provided under the Budget should be allocated to suitable social entrepreneurial initiatives that do not seek solely commercial returns but also achieve social objectives. On the issue of Singaporeans who have been involuntarily unemployed due to physical and mental incapacitation and may have fallen through the gaps, he wanted to know if the Government will review how help can be delivered to as many of these individuals as possible. Turning to retirement adequacy, he asked if larger local companies which are doing well can continue to step up and lead the way to meaningful engagement and employment of seniors. He also wanted to know if a scheme similar to the Overseas Humanitarian Assistance Tax Deduction Scheme could be considered for humanitarian projects that provide and scale global clean water solutions.
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