Although the rise in the levy is graduated over three years, there is concern expressed by some business leaders that this may impede the ability of companies to leverage upon and capture the opportunities of the recovery, as their capacity will be impacted.
And if the increase is not calibrated, it may send the wrong signal to companies looking to invest in Singapore or to foreign talent that Singapore is not as open as it used to be.
-- Jessica Tan, East Coast GRC
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