DPM Heng unveils Covid-19 resilience package: Here's all you need to know about the measures

Deputy Prime Minister Heng Swee Keat unveiled his Supplementary Budget in Parliament as Singapore grapples with an unprecedented crisis posed by the coronavirus pandemic. Here are the highlights.


Singapore Govt pumps in $48b more to fight Covid-19 fallout, on top of $6.4b already announced



Setting out the grim economic outlook worldwide, Mr Heng said the global economy is now facing both supply and demand shocks. PHOTO: GOV.SG

In all, Singapore is dedicating about 11 per cent of its GDP to support businesses, workers and families.

READ MORE HERE

Covid-19: Billion-dollar measures to help Singapore's workers, self-employed and unemployed



Mr Heng revealed measures to help people stay employed, support the self-employed, unemployed and low-income workers, and provide job opportunities and training. ST PHOTO: ONG WEE JIN

The measures include the Jobs Support Scheme being enhanced and extended, and eligible self-employed Singaporeans getting $1,000 in cash a month for nine months.

READ MORE HERE

Covid-19 aid: $17 billion to be drawn from reserves for stimulus measures



The stimulus measures will raise Singapore's overall budget deficit this financial year to $39.2 billion. ST PHOTO: KELVIN CHNG

 

It will be the biggest draw on the country's reserves, which has been used only one other time.

READ MORE HERE

President Halimah gives 'in-principle support' to draw on past reserves for 2nd coronavirus aid package



Madam Halimah Yacob said she has given her "in-principle support" for the draw - which is before the House for debate. PHOTO: LIANHE ZAOBAO

In a message read out in Parliament by Speaker Tan Chuan-Jin, Madam Halimah said she has given her "in-principle support" for the draw - which is before the House for debate.

READ MORE HERE

Up to $900 cash help for Singaporeans amid coronavirus outbreak, Govt to freeze fees and charges for a year



Besides the cash payouts and rebates to families, the Government will also double the $10 million grant to self-help groups over two years so that they can help more families. ST PHOTO: LIM YAOHUI

Cash payouts announced in Budget 2020 last month will be tripled, with all adult Singaporeans receiving $300, $600 or $900 depending on their income.

READ MORE HERE

PM and ministers to take three-month pay cut in solidarity with Singaporeans coping with coronavirus


DPM Heng Swee Keat pledged that the Government will lead the way in the fight against Covid-19. ST PHOTO: GAVIN FOO

Political office-holders will take an additional two-month pay cut on top of the one-month pay cut announced last month, in light of the deteriorating situation caused by the coronavirus.

READ MORE HERE

Singapore Airlines expected to receive support from Temasek Holdings amid Covid-19 outbreak



Analysts have suggested that SIA could receive support in the form of a working capital loan or subsidies. ST PHOTO: KUA CHEE SIONG

The airline has announced that it will slash 96 per cent of its capacity as countries, including Singapore, tighten their borders.

READ MORE HERE

Govt to subsidise wages of all local workers by at least 25% amid Covid-19 outbreak



Firms in the food services sector, including hawker stalls, will receive higher support, at 50 per cent of wages. ST PHOTO: CHONG JUN LIANG

Firms will receive wage subsidies of between 25 per cent and 75 per cent for all local workers.

READ MORE HERE

3-month deferral of income tax payments for businesses, self-employed as part of Covid-19 support



These income tax deferments will help to ease cash flow on top of wage support schemes announced previously, said Deputy Prime Minister Heng Swee Keat. PHOTO: ST FILE

This is to help businesses and self-employed persons ease immediate cash flow concerns.

READ MORE HERE

10,000 jobs to be created over a year, $800 a month to be given to those who lose job amid Covid-19 outbreak



As the impact of Covid-19 on the economy deepens, some workers will lose their jobs or see their incomes significantly reduced, noted DPM Heng. ST PHOTO: JASON QUAH

The unemployment assistance will be for low- and middle-income workers.

READ MORE HERE