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Singapore Business Federation welcomes a progressive Budget which invests in the future

23 February 2015 [Singapore] - The Singapore Business Federation (SBF) congratulates the Government on a well-thought out and comprehensive Budget for 2015 that also recognises that businesses are challenged by rising costs.

SBF welcomes the following:

  • Deferring of levies for S Pass and Work Permit holders
  • Helping businesses innovate, internationalise and scale up
  • Deepening manpower capabilities through SkillsFuture
  • Setting clear focus on the five growth clusters for Singapore businesses
  • Helping to manage rising business cost through the Transition Support Package extension and the Temporary Employment Credit enhancement

“We are delighted with the deferment of levies for S Pass and Work Permit holders to help businesses manage rising costs. The Government has given us clear indications of the growth sectors to be developed. We will need to work towards assisting our SMEs to build capabilities for the five growth clusters to become global leaders in these sectors.”  
Lawrence Leow
, Chairman, SBF-led SME Committee 

“I applaud the Government for introducing a meaningful Budget that invests in our future. It addresses current issues that businesses face. The important piece in this Budget is the significant investment in our people through SkillsFuture and to make innovation pervasive amongst our companies. These are programmes that will prepare the Singapore economy for the future, with strong companies driven by innovation, deriving significant income from abroad and staffed by skilled and engaged employees.A significant challenge remains in the implementation of these programmes, especially to reach out to our many SMEs and to build this culture of collaboration between companies, government and unions. SBF will play its part to galvanise the business community in the implementation of these programmes.”
Ho Meng Kit
, CEO, SBF

Budget Speech
Budget in Brief

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