Budget 2022: S$560m support package to help families with bills, daily essentials
THE government will roll out a S$560 million support package to help families defray daily expenses and rising utility costs, Finance Minister Lawrence Wong announced on Friday (Feb 18).
As part of the package, all Singaporean households will receive another S$100 in Community Development Council (CDC) vouchers. These can be used at participating heartland shops and hawkers, said Wong during his Budget 2022 speech in Parliament.
The GST Voucher - U-Save rebates will be doubled for the rest of the year, meaning that eligible households can receive additional rebates of up to S$285.
About 950,000 Singaporean households are expected to benefit from the move.
Wong said the government has been closely monitoring the risk of inflation and the cost of living.
He noted that the rise in prices follows an extended period of low inflation over the past decade.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
"It has been mainly driven by the recovery in global demand amidst continuing supply chain dislocations, and especially by the rise in energy prices," Wong told Parliament.
"I recognise the immediate concerns of businesses and households and will provide significant additional support in this Budget to help them tide over the current period of higher prices," he added.
The government will give families extra support for their children's education-related expenses.
Children below the age of 21 will receive a S$200 top-up to their Child Development Account, Edusave Account or Post-Secondary Education Account. This is on top of the annual Edusave top-ups they already receive.
The top-ups are expected to benefit about 790,000 children.
Get the latest updates on Budget 2022 here: bt.sg/budget22
READ MORE: Budget 2022: Quick Takes on support packages for jobs, businesses, families
Copyright SPH Media. All rights reserved.
