So much for the Job Credit scheme

Well, according to sources, which I have read from a few Singaporean blogs, this Job Credit scheme, which was claimed to be a new idea, is actually not a new concept. In fact, during the course of the American Presidential campaign against John McCain last year, then-candidate Barack Obama suggested that the government would give $2k to $3k to companies who retain or hire new workers during the recession. It was later scrapped because many Democrats in Congress, in the first week of his administration, said that it was tough to ensure which company did or didn't retrench or hire, and thus almost unworkable. Besides it wouldn't help ordinary workers because the money would go to bigger companies first, and would have little chance of trickling down to ordinary workers.

This is also beside the fact that companies would rather retrench workers- that save them say $2000 per employee- as opposed to saving $900 to retain one. In the end, the bigger savings of $2000 is more than the $900 the government is willing to pay.

Anyway Mr. Low had severely question the credibility of the problem. Unlike the edited version that ST has provided, these three videos give the full context of what Mr. Low of WP has really said in Parliament yesterday about the Job Credit scheme. Needless to say when so many people come out to hammer him, its not because they are right- but because they fear the truth and they fear Mr. Low.

Below are the videos anyway. I leave to you all to judge for yourselves.