Budget to help firms prepare for long term

An office worker at Raffles Place.
An office worker at Raffles Place.PHOTO: ST FILE

Budget 2017 will likely focus on preparing businesses and industries for long-term growth in line with policies outlined by the Committee on the Future Economy (CFE).

Mr Liang Eng Hwa, who chairs the Government Parliamentary Committee for Finance and Trade and Industry, told The Straits Times that the key task for the Government will be to execute the recommendations of the CFE, which was convened early last year to plan economic strategies for the next decade.

"Necessarily, the focus will be on mid- to long-term transformations - how we can develop corporate capabilities, help companies leverage on the digital economy, help them explore overseas markets, and more rigorously upskill Singaporean workers," said Mr Liang.

He also noted that financial prudence will still be the Government's watchword: "With transformation comes risk, so we need to manage that by building up our fiscal resilience."

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A version of this article appeared in the print edition of The Straits Times on February 08, 2017, with the headline 'Budget to help firms prepare for long term'. Print Edition | Subscribe