Positive spillover effects expected from SkillsFuture initiatives

Singapore

SINGAPORE: The SkillsFuture initiatives announced at this year’s Budget are expected to have a positive multiplier effect on the Singapore economy. Observers have said it could raise income levels and improve living standards for households in the years to come.

SkillsFuture provides a package of measures aimed at helping Singaporeans learn and upgrade their work skills throughout their lives.

The Employment and Employability Institute (e2i) has supported over 50,000 workers for training last year, up 30 per cent from 2013.

The rollout of SkillsFuture measures – which include the S$500 credit to some 2 million Singaporeans next year – will likely see higher demand for education services and training.

Source: www.channelnewsasia.com

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