1. Chapter 13 Impact of Recession

2. Asian Economic Crisis Started in Thailand External debt and NPL Spillover to Indonesia, Korea and Japan Malaysia : FX control

3. Impact on Singapore Retrenchment in 1998 NTUC help: Job match

4. Committee on Competitiveness Recommendations Reduce business costs Maintain investor confidence Build capability, more productive Seek new markets Form strategic alliances

5. Human and Intellectual Capital Maximise domestic manpower Attract foreign talent

6. Domestic Manpower Continuing education Developing executives Women and older persons Job re-design

7. Attracting Foreign Talent Reduce cost of living: housing International schools Reduce recruitment cost Foreign worker policy

8. Cost Cutting Package Labour Govt fees Taxes Household rebates Telecom Industrial land Transport Utilities

9. Cut in CPF rate Many people affected: Provide bridging loan HDB Assistance scheme Reduce payment, reschedule

10. July 2001 Off-budget Package Boost economy Help companies cut cost Help retrenched workers Incentives for employers

11. October 2001 Off-budget Package Tax & fee rebates Assist local enterprises Property measures Infrastructure Employment assistance New Singapore shares

12. NTUC Relief Package Price reduction FairPrice INCOME Foodfare Childcare Healthcare Choice Homes Thrift NTUC Club Vouchers

13. SARS Relief MeasuresImpact ($m) Tourism-related 1. Property tax rebate (commercial)56 2.Property tax rebate (hotel) 8 3. Reduce foreign worker levy 2 4. TV licence rebate (hotel) 2 5. Cess rebate20 6. Bridging loan (tourismSMEs)10 7. Increased training grant57

14. Courage Fund Launched April 2003 Rallying point for people to help SARS victims Support for healthcare workers Government: $1 million + dollar for dollar matching