a. Explain the potential supply side and demand side effects of Skills Future initiative.

b. Explain the potential supply side and demand side effects of adopting new technologies to boost productivity in the construction industry.

c. Draw a graph to illustrate the combined demand side and supply side effect of the fiscal policy measures in part (a).

New schemes announced by the government’s budget statement include ten new hawker centers by 2027, a third desalination plant, Skills Future initiative to support lifelong learning for adults, and a second edition of Construction Productivity Roadmap to boost the industry’s capabilities.