Monday 25 February 2013

WP’s Population Policy Paper detrimental to businesses: SBF

Channel NewsAsia, 23 Feb 2013

CEO of the Singapore Business Federation (SBF), Ho Meng Kit said the proposal in Workers' Party's Population Policy Paper to keep foreign workforce constant and to rely on a one per cent growth in resident workforce has broken no new ground.

Mr Ho said the federation's position remains that a freeze in the growth of foreign workforce will be detrimental to businesses.

He added that it is too risky to bet that improvement in Labour Force Participation Rate will offset the real need for more foreign workers in some domestically oriented sectors such as construction where demand is growing.

Mr Ho said in the 2012/2013 SBF National Business Survey of a thousand of its members, mostly SMEs, 14 per cent of those surveyed said that they are considering relocating out of Singapore, as a result of the government's policy to tighten foreign workers in 2012.

As for manufacturing companies, the proportion is 28 per cent.

Mr Ho said the Workers' Party's proposal tightens foreign workforce further and this could have serious impact on jobs and the well-being of Singaporeans.

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