BUDGET 2022 - Help for households
Households to get more rebates, CDC vouchers to fight inflation
$560m Household Support Package to fund utilities rebates, education top-ups, vouchers for use in heartland
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Households will receive more help through vouchers and rebates to cope with higher prices from rising inflation globally, said Finance Minister Lawrence Wong yesterday.
A $560 million Household Support Package will help Singaporean families manage cost of living pressures, by providing support for daily essentials through utilities rebates, top-ups for children's education and vouchers they can use at heartland shops.
Mr Wong said that while the overall economic outlook is positive, some segments of the economy are still struggling.
"I recognise the immediate concerns of businesses and households and will provide significant additional support in this Budget to help them tide over the current period of higher prices," he said.
All eligible Housing Board households will get additional rebates of up to $285. They will receive double their regular GST Voucher (GSTV) - U-Save rebates in April, July and October this year under the package.
This means they will receive double their regular GSTV - U-Save rebates in FY2022, when combined with the additional GSTV-U-Save rebates that will be given next January under the Assurance Package for the goods and services tax.
About 950,000 Singaporean households will get the additional rebates.
Children below 21 will also get a top-up of $200 each in their Child Development Account, Edusave Account or Post-Secondary Education Account.
This is on top of the annual Edusave top-ups they already receive.
Around 790,000 children will receive the top-ups, which will be made in May to their Edusave or Post-Secondary Education Account, or from September to their Child Development Account.
All Singaporean households will also get another set of $100 Community Development Council (CDC) vouchers, which they can use at participating heartland shops and hawker stalls, this year.
More details will be announced by the CDCs.
In addition, Singaporean households will also receive two tranches of CDC vouchers of $200 each next year and in 2024, as part of the $6.6 billion Assurance Package to cushion the impact of the GST hike.
