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SINGAPORE – Deputy Prime Minister Heng Swee Keat will not unveil a new round of support measures when he makes a ministerial statement in Parliament on Monday (October 5), but will discuss how resources will be allocated to fund the measures already announced, He said. He said.
He reiterated this in a Facebook post on Saturday, noting that the announcement on Wednesday’s ministerial statement had prompted questions about whether there would be an upcoming round of measures.
In his Facebook post, he said that the main purpose of his statement will be to provide the context for the Supplemental Supplies Bill that will be tabled in Parliament on Monday.
The bill, the third of its kind introduced this year, will reallocate resources for measures announced on August 17 to help businesses and workers overcome the economic disruption caused by the Covid-19 pandemic.
Parliament will debate the bill and these measures, which amount to about $ 8 billion.
Heng, who is also Coordinating Minister for Economic Policies and Minister of Finance, said on Saturday: “At this stage of the crisis, my team and I are fully committed to supporting our workers and companies by refining our policies, expanding the scope and improving implementation, to make the most of the $ 100 billion committed to fight Covid-19. “
We hope that companies and workers can make the best possible use of the measures that have been committed.
On Friday, Heng had met with some small and medium-sized companies and also with union leaders and professional trainers, along with labor boss Ng Chee Meng.
Referring to these meetings, he said: “Yesterday’s discussions have given us a better idea of the pain points of job seekers and companies, opportunities for collaboration in the coming months and new ideas that we can develop for Budget next year.” .
He added that the government would work closely with companies to help them stay viable and keep workers employed.
The government has committed close to $ 100 billion, more than four budgets and a new round of support in August, to help businesses, workers and households overcome the coronavirus crisis.
Among the key measures announced in August are adjustments to the Employment Support Program, which helps employers fund up to 75 percent of the first $ 4,600 of gross monthly salary paid to each local employee, for 10 months through August. 2020.
The measures extend wage support until March next year, staggered according to how quickly each sector is expected to recover.
The companies in the most affected aerospace, aviation and tourism sectors, which were receiving 75% salary support, get 50% salary support for a further seven months.
The built environment sector will receive 50 per cent support for a further two months, before it is reduced to 30 per cent of wages paid until March next year, in line with the gradual resumption of construction activities.
Most other sectors will get 10 per cent support for a further seven months.
However, sectors that are doing well, such as biomedical sciences, financial services, and information and communications technology, will receive this amount of support until December.
Additionally, the Covid-19 support grant, introduced in May to help Singaporeans who have been laid off or suffered a significant loss of income, was extended through December. To qualify, unemployed applicants must demonstrate job search or training efforts. Mr. Heng had said that the measures would be funded by reallocation of money from other areas, such as development spending that was delayed due to Covid-19.
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