Economic downturn Helping business to cope with the economic downturn
I wish to suggest the following measures to help business to cope with the economic downturn.

a) Encourage landlord to reduce the rental on business premises and stalls and receive a 50% subsidy from the government. If the monthly rental is $10,000 and the landlord reduce it by 50% (i.e. $5,000), the landlord can get a subsidy of $5,000 from the government.  

b) Waive the property tax on business premises that are owner occupied

c) Allow a business to apply for a loan to cover their payroll and rental cost. This loan will be provided by a bank and will be guaranteed by the government.

These measures can be implemented for the duration of the economic downturn.

Minister Heng - I hope that you will consider this suggestion.

Tan Kin Lian


 

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