The new budget touts stronger support for employers and workers by extending a so-called wage credit scheme for three more years. That will pay for 20% of wage increases this year, 15% next year and 10% in 2020 and cost about S$1.8 billion.
The budget allocates S$145 million to train people in data analytics, artificial intelligence, the Internet of Things and cybersecurity. The budget also sets aside funds to help firms innovate and to implement digital technology and to foster stronger partnerships among firms both locally and globally.