SINGAPORE — Cost of living worries featured prominently in Parliament on the first day of the Budget debate on Wednesday (Feb 22) as several Members of Parliament (MPs) raised concerns that an increased Central Provident Fund (CPF) salary ceiling would reduce people's cash in hand for spending on their needs.
to help middle income Singaporeans save more for retirement, from the current S$6,000 to S$8,000 in 2026, to keep up with rising salaries.
At the same time, it would reduce the take-home pay of some middle-income households"just when they need the cash to meet the higher cost needs", Mr Liang added. For instance, a mother who gives birth to their first child starting next year will be able to claim S$8,000 in tax relief, while a mother who gives birth before that will be able to claim tax relief for 15 per cent of her earned income.
Agreeing, Workers' Party MP Louis Chua of Sengkang GRC said that the Government could consider giving a motherhood tax rebate to working mothers earning below a certain income.CONCERNS OVER THE 'SANDWICH' CLASS Ang Mo Kio GRC MP Darryl David suggested that other than just increasing the duration of paternity leave, that other schemes such as tax incentives should also be rolled out to to men to encourage them to have a more active role in childcare.The suggestions included bringing in a better safety framework with more Ministry of Manpower inspections, more streamlined rules, as well as the adoption of new safety technologies in the workplace.
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