Heng Swee Keat unveils Budget 2021: Emerging Stronger Together
16 Feb 2021 03:00pm
Deputy PM and Finance Minister Heng Swee Keat unveiled Singapore’s Budget 2021 in Parliament on Tuesday (Feb 16), with a view to recovery from the COVID-19 crisis in the immediate and longer term. The Government will tap past reserves to fund an S$11 billion COVID-19 Resilience Package to safeguard public health and support businesses and workers, with special aid for the aviation sector. S$900 million will go towards helping households with expenses, and S$24 billion to help firms and workers transform for a post-COVID economy. Mr Heng also said the GST hike will happen between 2022 and 2025.