Singapore  - The Singapore government is looking at ways to help both the small and medium enterprises and individuals soon, the Channel News Asia reported Sunday.

Foreign Minister George Yeo told a local community gathering on Saturday that the measures can be expected in the next few days.

Export-oriented Singapore's SMEs are calling on the government to help with high operating costs during the global financial crisis.

The Singapore Chinese Chamber of Commerce and Industry has called for a cut in tax on goods and services to 3 per cent, from the current 7 per cent.

"The government has always aimed at a balanced budget, based on the premise that there is a need to save for a rainy day. It is pouring at the moment," the Sunday Times quoted Pricewaterhouse Coopers Singapore's tax partner David Sandison as saying.

"Singapore needs to be quick on its feet before the economy contracts too much. The sooner the better or we'll have to climb out from a deeper hole," said Russell Aubrey, a tax partner at Ernst & Young in Singapore.

Aubrey said he expected some quick relief injected in the form of "Christmas Budget" ahead of the annual budget in February.

Small and medium businesses called for a wide range of relief measures including tax exemption for unoccupied properties and land under development, as well as rebates on utilities and transportation costs.

Union leaders have warned the city state's major businesses to consider all alternative options before cutting staffs.

Analysts said Singapore could see over 30,000 job cuts next year, when the economy is expected to contract, compared with about 10,000 layoffs this year. (dpa)