JOBS SAVED AS A RESULT OF OFF-BUDGET MEASURES

Mr Ahmad Mohd Magad asked the Minister for Manpower whether there are statistics captured on jobs saved as a result of implementing the off-Budget measures and, if so, approximately how many jobs have been saved to date.

Dr Lee Boon Yang: The off-Budget measures were meant to help companies during this period of economic slowdown. They were implemented with effect from 1st July 1998. The measures would cost the Government $2 billion. Some of these will translate into cost savings for employers, while others will stimulate demand thus helping employers to save jobs. At this stage, it is too early to assess the full impact of these measures.