Committee of Supply 2023 debate, Day 3: Sharael Taha on costs of doing business in Singapore
As the National Productivity Fund gets a S$4 billion top-up and an expanded scope, how will the Government ensure that the money is effectively used by businesses to drive real productivity improvements that will lower the costs of doing business in Singapore? What will be the measure of success? MP Sharael Taha asked these questions in Parliament on Tuesday (Feb 28). With the costs of doing business in Singapore rising due to factors like labour cost and the strong currency, coupled with the impending carbon tax and implementation of BEPS 2.0, Mr Sharael also asked how the country can generate non-tax incentives to enhance its competitiveness to continue to attract foreign investments when it loses preferential tax rates as a competitive lever.
As the National Productivity Fund gets a S$4 billion top-up and an expanded scope, how will the Government ensure that the money is effectively used by businesses to drive real productivity improvements that will lower the costs of doing business in Singapore? What will be the measure of success? MP Sharael Taha asked these questions in Parliament on Tuesday (Feb 28). With the costs of doing business in Singapore rising due to factors like labour cost and the strong currency, coupled with the impending carbon tax and implementation of BEPS 2.0, Mr Sharael also asked how the country can generate non-tax incentives to enhance its competitiveness to continue to attract foreign investments when it loses preferential tax rates as a competitive lever.
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