{"id":5573,"date":"2020-03-26T20:01:16","date_gmt":"2020-03-26T12:01:16","guid":{"rendered":"https:\/\/sg.everydayonsales.com\/news\/?p=5573"},"modified":"2020-03-26T20:01:16","modified_gmt":"2020-03-26T12:01:16","slug":"its-a-wrap-government-to-flexes-55-billion-package-to-assists-those-impacted-workers-families","status":"publish","type":"post","link":"https:\/\/sg.everydayonsales.com\/news\/5573\/its-a-wrap-government-to-flexes-55-billion-package-to-assists-those-impacted-workers-families\/","title":{"rendered":"It&#8217;s a Wrap &#8211; Government To Flexes $55 Billion Package To Assists Those Impacted Workers &#038; Families"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-5574\" src=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/Its-a-Wrap-Government-To-Flexes-55-Billion-Package-To-Assists-Those-Impacted-Workers-Families.png\" alt=\"\" width=\"820\" height=\"410\" srcset=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/Its-a-Wrap-Government-To-Flexes-55-Billion-Package-To-Assists-Those-Impacted-Workers-Families.png 820w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/Its-a-Wrap-Government-To-Flexes-55-Billion-Package-To-Assists-Those-Impacted-Workers-Families-300x150.png 300w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/Its-a-Wrap-Government-To-Flexes-55-Billion-Package-To-Assists-Those-Impacted-Workers-Families-768x384.png 768w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/03\/Its-a-Wrap-Government-To-Flexes-55-Billion-Package-To-Assists-Those-Impacted-Workers-Families-585x293.png 585w\" sizes=\"(max-width: 820px) 100vw, 820px\" \/>Worried bout the Covid-19 situation? Worry no more cause Singapore government have you covered. Good news is that the government is giving a helping to those workers that are affected with Covid-19 through their $55 billion package<\/p>\n<p>This decision was made on Thursday (26 Mar), Deputy Prime Minister and Finance Minister Heng Swee Keat introduced a supplementary Budget.<\/p>\n<p>This new budget is also known as the Resilience Budget \u2013 will cost $48 billion, which when combined with the $6.4 billion means Singapore will spend a whopping $55 billion this year.<\/p>\n<h4>1. Employers will get help to keep workers employed<\/h4>\n<p>There will be $15.1 billion has been set aside to support more than 1.9 million Singaporean employees over 3 periods \u2014 in May, July, and October. This Enhanced Jobs Support Scheme will assist those employers in retainer workers so they don\u2019t get retrenched.<\/p>\n<p>From $3,600 before, the monthly qualifying wage ceiling will now be $4,600, and will last 3 quarters instead of just 1. The Government Co-funding Ratio of Wages will also increase drastically:<\/p>\n<ul>\n<li>25% for local workers<\/li>\n<li>50% for food services sector<\/li>\n<li>75% for aviation and tourism sector<\/li>\n<\/ul>\n<p>Previously, it was 8% across all industries, and these 3 industries were hit hardest by Covid-19.<\/p>\n<h4>2. Self-employed workers will receive $1,000 over 9 months<\/h4>\n<p>For those self employed, the government have you covered too. Workers who are self-employed and have no stable income will receive $1,000 a month for 9 months. There will be $1.2 billion is set aside for this purpose, and estimated about 133,000 Singaporeans will benefit.<\/p>\n<h4>Cash payouts to all adult Singaporeans to be tripled<\/h4>\n<p>Those Singaporeans who are aged 21 and above will get benefit where they will receive S$300-S$900 instead of $100-$300, as was announced in the previous Budget.<\/p>\n<p>For parents will get S$300 each, if they have a Singaporean child aged 20 years and below this year. The PAssion one-off topup of $100 will be given in cash instead to prevent queues amid Covid-19.<\/p>\n<h4>Job-seekers to get work opportunities<\/h4>\n<p>If you&#8217;re one of those job-seeker, you won&#8217;t be left out where there will be up to 8,000 traineeships for 2020 across large and small enterprises alike, especially for those graduating from polytechnics, ITEs and universities.<\/p>\n<p>Also under the SGUnited Jobs Initiative, there will also be about 10,000 created jobs over the next year.<\/p>\n<p>Meanwhile, the unemployed will receive more flexibility for applications under ComCare. There will be a Temporary Relief Fund for families who require immediate financial help.<\/p>\n<p>Lastly, there will be a Covid-19 Support Grant for those who lose their jobs as a result of the pandemic. Lower- and middle-income Singaporeans will receive $800 monthly for 3 months if they\u2019re affected.<\/p>\n<h4>Waiver for government fees, loans<\/h4>\n<p>Charges for government services will freeze for a year, meaning we do not have to pay for them. This will last from 1 Apr 2020 \u2013 31 Mar 2021.<\/p>\n<p>If you&#8217;re student, you will not have to repay their loans and interest charges for a year \u2014 from 1 Jun to 31 May 2021. This will apply to all graduates who took a government loan for polytechnic and university studies.<\/p>\n<p>HDB mortgage arrears\u2019 late payments will also be waived for 3 months.<\/p>\n<h4>Upskilling arts sector &amp; digitalising<\/h4>\n<p>The arts sector will receive more help, which will cost the government $55 million.<\/p>\n<p>Digitalisation will also be a priority and the government will establish more digital arts platforms, reaching out to new audiences. More details will be shared by the Ministry of Culture, Community and Youth later.<\/p>\n<h4>Economic resilience on essentials, industries, training support<\/h4>\n<p>With this pandemic as a lesson, the government will now build up their stockpile of health supplies to ensure Singapore remains well-stocked.<\/p>\n<p>Food supplies are already being handled with a multi-pronged approach to ensure we won\u2019t lack in groceries. Food resilience is a priority, and Singapore wants to product 30% of nutritional needs by 2030, instead of below 10% currently.<\/p>\n<p>Meanwhile, firms will receive support as well.<\/p>\n<p>The government will match $1 to every $2 which is raised by Trade Associations and Chambers (TACs), or other business groups for new initiatives to help companies through this time.<\/p>\n<p>Previously, the number was $1 to every $4.<\/p>\n<p>They can use these to restructure, digitalise, and transform:<\/p>\n<ul>\n<li>SMEs Go Digital Programme,<\/li>\n<li>Productivity Solutions Grant (PSG),<\/li>\n<li>Enterprise Development Grant (EOG),<\/li>\n<\/ul>\n<p>Maximum support levels for PSG and EOG will be raised to 80% and 90% respectively. These enhancements will last until Dec.<\/p>\n<h4>More skill support enhancements for worker upgrades<\/h4>\n<p>Aside from that, there will also be some funds dedicated to enhanced skills support for upgrading of workers as well.<\/p>\n<p>The enhanced training support for both arts and culture, as well as land transport sectors will be extended starting 1 Apr. The 90% absentee payroll rates to all employers will be extended from 1 May as well.<\/p>\n<p>The $500 SkillsFuture Credit top-up for courses can be used beginning from 1 Apr, after government worked with institutes of higher learning and training centres.<\/p>\n<p>Aside from the above, all political office holders will take a total pay cut of 3 months, from 1 before which This includes the President, Speaker and Deputy Speakers. Singapore is SGUnited<\/p>\n<p>Kudos to the government for making this swift action ensure all Singaporean are protected.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Worried bout the Covid-19 situation? Worry no more cause Singapore government have you covered.&hellip;<\/p>\n","protected":false},"author":2,"featured_media":5574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[870],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It&#039;s a Wrap - Government To Flexes $55 Billion Package To Assists Those Impacted Workers &amp; Families - Singapore EverydayOnSales News<\/title>\n<meta name=\"description\" content=\"Worried bout the Covid-19 situation? Worry no more cause Singapore government have you covered. 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