CB Govt Use Reserves to Subsidize Foreigners!

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<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>January 22, 2009, 3.59 pm (Singapore time)

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S'pore provides jobs credit scheme

By UMA SHANKARI
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The Singapore government will provide a jobs credit scheme, where employers will receive 12 per cent of the first $2,500 of wage paid out to each employee on CPF payroll.

<TABLE cellSpacing=0 cellPadding=5 width=120 align=left border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=4 width=200 align=left border=0><TBODY><TR bgColor=#4e6e78><TD colSpan=2 height=8>[FONT=Verdana, Arial, Helvetica, sans-serif]Related link: </TD></TR><TR bgColor=#d5e9f1><TD>

</TD><TD>[FONT=Verdana, Arial, Helvetica, sans-serif][SIZE=-2]Click here for Mr Tharman's budget speech[/SIZE][/FONT]</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>The money will be paid out to employers in four quarterly payments.
This is expected to provide an incentive to employers to retain their workers.
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