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Singapore Budget 2021: Key highlights for HR and employers

Published: 17 February 2021
A S$700mn extension to the Jobs Support Scheme, deeper investments in businesses, and more - these are some of the things HR, employers and employees can look forward to in the next few years, as part of Singapore s Budget 2021 initiatives.
Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance Heng Swee Keat delivered his #SGBudget2021 speech in Parliament on Tuesday (16 February), putting forth a slew of measures to be undertaken to help Singapore build resilience and emerge stronger post-pandemic.
Measures announced in the Emerging Stronger Together Budget 2021 include a six-month extension on the Jobs Support Scheme, enhanced salaries for healthcare workers, additional funding for the Jobs Growth Incentive to encourage local hires, and more. ....

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Range of co-funding schemes to help firms transform and scale up

Local companies can tap a range of avenues to access capital that they may need to innovate, transform and scale up their businesses.
To catalyse the flow of capital and bridge market gaps, the Government will step up risksharing arrangements with providers of capital and provide grants to support businesses at various stages of growth, Deputy Prime Minister Heng Swee Keat said yesterday.
For high-growth companies including start-ups, the Venture Debt Programme will be extended and enhanced - with an increase in the cap on loan quantum support from $5 million to $8 million.
With this, we expect about $45 million of venture debt to be catalysed over the next year, Mr Heng said. ....

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