Foreign worker levy rebates provide some relief, but retrenchments expected to spike

SINGAPORE (Apr 7): Singapore’s construction, shipyard and healthcare companies could see some relief from foreign worker levy rebates announced Monday as part of the Solidarity Budget.

But market watchers believe the relief measures will do little to help save Singapore from facing the worst-ever retrenchments in its 55 year history.

Deputy Prime Minister and Finance Minister Heng Swee Keat on April 6 announced a third round of relief measures to help mitigate the impact of the Covid-19 pandemic.

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