In this year’s Budget speech, Finance Minister Heng Swee Keat mentions that as important as it is to support the growth and globalisation of local firms, the ultimate goal is to enable people and deepen the capabilities of Singaporeans.
He mentioned that over the years, the Government has instituted a range of support measure to help workers, including the Workfare Income Supplement, Special Employment Credit, and Professional Conversion Programmes (PCPs).
Since the establishment of PCPs in 2007, over 100 PCPs have been launched, covering about 30 sectors.
In a bid to prepare Singaporeans to move into new growth areas, new PCPs will be launched this year, relating to areas like blockchain, embedded software, and prefabrication.
The Career Support Programme, which was initially launched in 2015, will also be extended for 2 years.
The Programme helps provide wage support for employers to hire eligible Singaporeans who are mature and retrenched, or who are in long-term unemployment.
Mr Heng added that more than 76,000 people have benefitted from the Adapt and Grow programme.