SINGAPORE - While much of the Supplementary Budget announced by Deputy Prime Minister Heng Swee Keat on Thursday (March 26) addressed the immediate impact of the coronavirus crisis, $1.9 billion was also set aside to strengthen Singapore's economic and social resilience post-pandemic.
Here are some of the key measures.
1. Making firms more resilient
Under the SG Together Enhancing Enterprise Resilience programme, the Government will double its matching rate to $1 for every $2 raised by trade associations and chambers or business groups, up from $1 for every $4 previously.
The programme supports industry-led initiatives to help firms tide over economic uncertainties and build longer-term capabilities.
Maximum support levels for the Productivity Solutions Grant and Enterprise Development Grant will be raised to 80 per cent and 90 per cent respectively to spur transformation. This enhancement will last till the end of the year.
2. Expanded training support
The enhanced training support announced in the Feb 18 Budget, which included more course fee subsidies, will now be extended to the arts and culture and land transport sectors from April 1.
The 90 per cent absentee payroll rate announced in the original Budget to help employers deal with cash-flow issues when sending workers for training will also be extended to all employers from May 1.
Singaporeans will also be able to use their base $500 SkillsFuture credit top-up for courses earlier, from April 1, ahead of the full implementation in October.
3. Co-funding Covid-19 cleaning efforts
The Government will co-fund businesses to undertake professional cleaning for places that have experienced confirmed Covid-19 cases.
This is on top of existing government offsets for audit and certification fees for tourism, retail and food businesses participating in the Ministry for the Environment and Water Resources' (MEWR) SG Clean campaign, launched in February.
MEWR will share more details in due course.
Additional reporting by Goh Yan Han