DPM to unveil fourth package of financial support next Tuesday

Deputy Prime Minister Heng Swee Keat will deliver the statement at 3.30pm on May 26 in the House.
Deputy Prime Minister Heng Swee Keat will deliver the statement at 3.30pm on May 26 in the House.PHOTO: ST FILE

Deputy Prime Minister Heng Swee Keat will announce a new round of Covid-19 support measures for businesses and individuals next Tuesday in Parliament.

The package, the fourth since February, will help them adapt and build resilience amid the coronavirus pandemic.

Mr Heng will deliver the ministerial statement at 3.30pm and it will be live on radio and television.

When it is over, the statement will be published on the Singapore Budget website.

In a Facebook post yesterday, Mr Heng said learning from the experience of other countries, the resumption of economic and social activities here must be done "cautiously and gradually".

"If we reopen too quickly, we risk new waves of infection, which could be even more disruptive to lives and livelihoods," he added.

For workers and businesses that are unable to resume activities immediately after the eight-week circuit breaker ends on June 1, Mr Heng said the Government will help them tide over the period.

How it will help them will be spelt out in his ministerial statement.

National Development Minister Lawrence Wong said at a press conference by the multi-ministry task force yesterday that support measures during the circuit breaker period will continue to be given to businesses that remain closed during the first phase of reopening.

"Beyond that, we will look at other items in the Budget. This will be the fourth Budget in a year - it is really unprecedented, and we are doing all we can to support businesses and workers," he said.

The Government earlier announced a total of $63.7 billion in aid under three Covid-19 support packages. Over $16 billion in Covid-19 government aid has been given to Singaporeans and businesses so far.

 
 
 
 
A version of this article appeared in the print edition of The Straits Times on May 20, 2020, with the headline 'DPM to unveil fourth package of financial support next Tuesday'. Subscribe