Highlights: DPM Heng Swee Keat delivers statement on COVID-19 stimulus package

Highlights: DPM Heng Swee Keat delivers statement on COVID-19 stimulus package

Heng Swee Keat COVID-19 Resilience Budget
In Parliament on Thursday (Mar 26), Deputy Prime Minister and Finance Minister Heng Swee Keat lays out the Resilience Budget to help Singapore tide over the COVID-19 pandemic.

SINGAPORE: Deputy Prime Minister and Finance Minister Heng Swee Keat delivered a ministerial statement on Thursday afternoon (Mar 26) on the Government’s additional support measures for businesses and households in response to the COVID-19 pandemic.

This second stimulus package, which Mr Heng called a "supplementary budget", comes after a slew of new measures and enhancements to existing schemes costing S$4 billion aimed at stabilising Singapore's economy amid the uncertainties caused by COVID-19.

The Government is dipping into past reserves to fund an additional S$48 billion worth of measures that include cash handouts, tax rebates and support for businesses.

There will be more support for self-employed workers, help for fresh graduates and the unemployed to find jobs and more benefits for the unemployed.

Adult Singaporeans, who were to get a S$100 to S$300 cash payout, will now get up to S$900.

Industries that have been badly hit by the COVID-19 crisis, in particular aviation and tourism, will also get more support. 

Mr Heng also said that political office holders will take another two months' pay cut, on top of a one-month deduction announced earlier.

Concluding, he asked all in Singapore to stand together to weather the "mighty storm" that is the COVID-19 outbreak.


 

Source: CNA/hm

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