How did government come up with the magic number for wage subsidy of 75%?
Why not 80%? 90%? or even 100%?
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Angeline Teo
01 May 2020
Calculator at The Internet
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Colin Lim
23 Apr 2020
Financial Services Consultant at Colin Lim
Hi Gabriel Tham,
That is a good question.. maybe they following other countries implemented numbers?
I think the main question govt is more focusing on MNC/ Big companies....small companies will still be impacted and different sectors, dont really use this structure... as i retrench u instead of paying u 25% becos i have no revenue coming in, or ask u go for unpaid leave.... these jobs can be physio, yoga, etc...cos i have friends in these lines all retrench or ask to take unpaid leave...
Important employee to the company will be ask to stay and companies will pay 25%...of their full wage or paycut wage.
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Elijah Lee
23 Apr 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
The concept behind the number is probably to do with the fact that the government doesn't want Singa...
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If they chose 80%, maybe the question would be "How did government come up with the magic number for wage subsidy of 80%".
My guess is 75% is a good estimate on sharing the majority of the pain with businessowners, government won't want to take 100% of the pain, so they figure business owners share abt 1 quarter of it?
whether its 75, or 80 or 85 or 95, they probably run some statistics and figure out 25% has the most bang for the buck