Deputy Prime Minister Heng Swee Keat will announce a new suite of plans (4th support package) the government has to help businesses and individuals adapt to the ongoing Covid-19 pandemic on May 26.
Heng, who is also Finance Minister, will share these in a ministerial statement at a parliamentary sitting that afternoon, at 3:30pm. His statement will be broadcast live online and on TV as well.
3 previous budgets included help for S’pore economy in Covid-19
A significant amount of the measures included within the Unity, Resilience and Solidarity Budgets dealt with the fallout of Covid-19.
For example, the Unity Budget introduced the Jobs Support Scheme, which was intended to help employers retain their employees. It totaling S$1.3 billion.
Later, the Resilience Budget pumped another S$15.1 billion into the scheme.
And the Solidarity Budget saw Heng enhance the scheme by raising the cash grant and wage cap.
In all, the three Budgets allocated a total of S$59.9 billion specifically in terms of measures targeted at addressing challenges caused by the pandemic.
It also saw the government having to dip into the reserves to help pay for the measures.
4th support package
The full details of DPM Heng’s statement will be published on the Singapore Budget website after he has delivered it.