Supplementary Budget 2020 On 4 Budget Regarding Aid On Unemployment To Find Job And Maintaining Job
Heng Swee Keat, Deputy Prime Minister, and Finance Minister have announced the Fourth Budget of the year on May 26. The main focus is preserving a job and maintaining a strong position in Singapore battling against Covid-19.
With the current spending on Covid-19 which has come to a total of $193 billion, over $72 billion will be used on supporting businesses, employee and workers to stay in their jobs. With an additional $92.9 billion will be disbursed by the government on handling the Covid-19 responses.
Heng also stated that the newly created National Jobs Council has started working on creating more than 40,000 new job opportunities to combat against the unemployed citizen.
The 9 key point being focus are:
- Digital Resilience Bonus
- Enterprise Development Grant (EDG)
- Productivity Solutions Grant (PSG)
- SG Together Enhancing Enterprise Resilience (STEER) Programme
- Enterprise Financing Scheme – SME Working Capital Loan (EFS WCL)
- Enterprise Financing Scheme – Trade Loan (EFS TL)
- Temporary Bridging Loan Programme (TBLP)
- Loan Insurance Scheme
