SG Budget 2020 Advancing As One Singapore

External Views

SG Budget 2020 Advancing As One Singapore

August 10, 2020

PARTNERING SINGAPOREANS TO BUILD SINGAPORE TOGETHER

Deepening Partnerships

Our Singapore Fund
Expand and scale partnerships
SG Eco Fund
Partnerships on key challenges

RESPONDING TO CHALLENGES IN A NEW DECADE

Economic Outlook

Modest GDP growth of 0.7% in 2019

Global slowdown and growing uncertainties, with GDP forecast ofbetween -0.5% to 1.5% for 2020

COVID-19 will add pressure to the global economy, but full impact remains unclear

Stabilising and Supporting Our Economy in the Near-Term

Stabilisation and Support Package

o Help enterprises with wage cost

Help enterprises with cash flow

Additional support for sectors that are directly affected

Maintaining Sound Finances to Respond to Uncertainties

Assurance Package for GST

Long-term Structural Shifts

Underlying social tensions, growing polarisation around the world
Increasing economic uncertainties, growing risks in financial markets

SUSTAINING SINGAPORE’S SUCCESS FOR OUR FUTURE GENERATIONS

Addressing Climate Change

International commitment under the Paris Agreement
Cleaner-energy transportation by 2040
Electric Vehicle-related measures
Energy-efficient households and estates
Coastal and Flood Protection Fund

Securing Our Home

Invest in defence, homeland security, cyber, and data security

A Fiscally Sustainable Singapore

Differentiated fiscal strategy for major, long-term infrastructure, and recurrent spending needs
FY2019: $1.7 billion deficit (0.3% of GDP)
FY2020: $10.9 billion deficit (2.1% of GDP)

GROWING OUR ECONOMY, CREATING OPPORTUNITIES FOR OUR PEOPLE

Global-Asia Node of Technology, Innovation, and Enterprise

Transformation and Growth Strategy

Enabling Stronger Partnerships

Economic linkages – Free Trade Agreements, International Investment Agreements, Avoidance of Double Taxation Agreements
Digital connectivity
Executive-in-Residence programme
Heartland Enterprise Upgrading Programme

Deepening Enterprise Capabilities

Startup SG Equity
Enterprise Grow Package
Enterprise Transform Package

Developing People for the Future

Asia-Ready Exposure Programme
Global Ready Talent Programme
Next Bound of SkillsFuture
SkillsFuture Credit
SkillsFuture Enterprise Credit
Productivity Solutions Grant for job redesign
Partner anchor enterprises on sector training
SkillsFuture Work-Study Programmes
Deepen workplace learning capabilities

SkillsFuture Mid-Career Support Package
- Reskilling programmes
- Hiring incentive for employers
- Special SkillsFuture Credit
- Career advisors

Senior Worker Support Package
Senior Employment Credit
CPF Transition Offset
Senior Worker Early Adopter Grant
Part-Time Re-employment Grant
Foreign worker policy

CARING FOR SINGAPOREANS, BUILDING AN INCLUSIVE HOME

Supporting Families

MOE Financial Assistance Scheme
Bursaries for higher education

Care and Support Package

Care and Support – Cash
Workfare Special Payment
PAssion Card Top-up
Grocery Vouchers
Additional GST Voucher – U-Save
Grants to Self-Help Groups and Community Development Councils
Service and Conservancy Charges (S&CC) Rebate

Enabling Seniors

Basic Retirement Sum
Housing monetisation schemes
Matched Retirement Savings Scheme
Silver Support Scheme

Strengthening the Giving Culture

Community Capability Trust
Enabling Employment Credit
Top-ups to Funds

1) Profile and Plan:

• Assess senior job seekers’ employability
• Profile their motivation and competencies
• Match to potential job opportunities, and plan out training path for each individual

2) Train and Prepare:

• Conduct pre-employment training on general employable skills such as self-awareness of employability, skills gap and training resources
• Prepare right mindset for re-employment
• Financial planning to acquire relevant financial literacy in areas such as insurance, wills, housing requirements, existing and future healthcare expenditure base on existing savings and required future earnings from active participation in workforce
•Practical workplace IT skills to overcome prevalent potential barrier to contribution, such as area of work involving digital communication and collaboration

3) Place and Coach:

• Place work ready workers on the job
• Provide post placement support for workplace adaptation and integration, such as through facilitating communication with employers.

By doing so, CFS also hopes to be the information and resource portal for employment for seniors. “We hope to complement our government’s initiatives in getting our seniors to be work ready and participating employers to be work-place ready”. said Ms Lim Sia Hoe, Executive Director, CFS.

“In Singapore’s ever evolving economy and workforce, the value of data is in the insights it can provide and the value of the employee is in their willingness to transform. IBM is proud to work with CFS and Singapore Polytechnic to create this job portal with the purpose of providing insights on the profile and needs of senior job-seekers as well as potential employers, and exploring the ideal solution that could help match senior job-seekers to potential age-friendly employers” said Abraham Thomas, Managing Director, IBM Singapore.

The CFS Platinum is also designed to be an efficient senior-friendly platform so that seniors can overcome the fear of using mobile devices (technology), which may hinder them from applying for jobs. Its user-friendly interface is easy to navigate, and makes it easier for seniors to apply for jobs online.

Mr Hee Joh Liang, Deputy Principal (Development), Singapore Polytechnic (SP) said, “This meaningful initiative has not only benefitted the seniors but it has also enabled our students to acquire greater social consciousness as well as promote inclusivity within the community, using the design thinking skills that they have learnt in SP.” Group picture taken at the launch of silverjobs.sg

Courses

SG Budget 2020 Advancing As One Singapore
(PFC08H01E)
Programme Date
Programme Dates (Please select one)*
Programme Dates (Please select one)*
Date Format: DD slash MM slash YYYY
Personal Information
Full Name*
First
NRIC (Last 3 digits & 1 character)*
Date of Birth*
Date Format: DD slash MM slash YYYY
Date of Birth*
Date Format: DD slash MM slash YYYY
Gender*
Race*
Home Postal Code*
Email*
Mobile Number
Education Level*
Employment Status*
Sponsored by Employer?*
Are you currently looking for a job?*
Payment Mode*
How do you come to know of CFS's training programmes?*
To comply with the Personal Data Protection Act, we would also like to seek your consent to use your personal data to update you about CFS. Please indicate your consent to be added to our mailing list:
PDPA
I declare that all information given in this application form is true and accurate to the best of my knowledge. I have not deliberately omitted any fact. However, should I be accepted for the course, and if any of this information is found to be false or inaccurate, I understand that I will render myself liable for any action taken by CFSincluding civil/disciplinary action, dismissal from course, and forfeiture of course fees or fines. I agree to abide by CFS's decision concerning this application and I accept that CFSreserves the right to cancel or postpone the course without giving any prior reasons to the applicant if there are insufficient registrations to form a class. Once this application is approved, I agree that CFSwill use my personal data for the administrative process of completing this training course. (Signature is not required for online registration.)
*
- Check here to indicate that you have read and agree to this declaration.

External Views