Bloomberg.com, 13 Oct 2009
Oct. 13 (Bloomberg) -- Singapore will extend a wage subsidy program for employers set to expire this year to avoid an increase in job losses that may derail the city-state’s economic recovery, Prime Minister Lee Hsien Loong said.
The government will spend S$675 million ($483 million) to extend its so-called Jobs Credit program by six months, Lee said in a speech to trade unions today. It had earlier budgeted S$4.5 billion for the one-year plan that made quarterly subsidy payments to employers for every Singaporean worker on their payrolls.
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