ICPAS Pre- Singapore-Budget Survey 2013

The weak global demand may have significant impact for Singapore economy. Many companies are facing increasing cost challenges as Singapore continues to struggle with inflation and high business costs.
The survey provides insights and expectation for the country’s economy from the business community.   
This ICPAS Research report based on a survey with more than 500 responses from the accounting and business community, comprising professional accountants, CFOs, public accountants and other financial professionals.
Key Findings:
  • Ahead of the Budget 2013, respondents have indicated that they hope the Government can lend a hand in managing rising business costs


  • 81% want measures to reduce or offset rental cost as their top wish list item for companies in the coming Budget 2013


  • Many suggested that the Government refine foreign worker policies to allow greater differentiation to meet the unique needs of the various industries


  • 80% of respondents indicated the Productivity and Innovation Credit (PIC) scheme has been useful in enhancing productivity, while 66% think it can be further refined to benefit more businesses


  • Respondents need more help to understand the schemes offered by SPRING and IE Singapore



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