Supplementary Budget 2020: Our Solidarity Budget
Announced on 6 April, the Supplementary Budget: “Solidarity Budget” was announced to further help workers and families throughout the Circuit Breaker period between 7 April and 4 May 2020.
The Solidarity Payment was one of the most immediate measures carried out, in which 9 in 10 Singaporeans aged 21 and above will receive a one-off payout of $600 through their bank accounts on 14 April 2020. This measure hopes to provide urgent monetary support especially for low-income families.
Other measures have also been rolled out in order to support businesses affected by the economic downturn. This includes a $4 billion package to keep workers in jobs and help companies with cash flow, and $800 million to support front-line agencies fighting the outbreak.
With the newly implemented schemes, Finance Minister Heng Swee Keat hopes for businesses to retain their workers in order for Singapore to emerge stronger after the pandemic.
Let’s all do our part in curbing the spread of the Covid-19 disease.