RAISING the salary threshold for Employment Passes (EPs) amid recessionary pressures can encourage financial institutions to hire locals, but some economists think such a 'protectionist response' can crimp Singapore's financial hub aspirations in the long run. Read more at The Business Times.
The biggest concern would be firms outsourcing operations to third countries or just packing up and leaving instead of hiring Singaporeans, said Walter Theseira, an economics professor at SUSS.
RAISING the salary threshold for Employment Passes amid recessionary pressures can encourage financial institutions to hire locals, but some economists think such a"protectionist response" can crimp Singapore's financial hub aspirations in the long run.
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