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THE Singapore government will set aside S$6.1 billion for a new Merdeka Generation Fund, aimed at funding the Merdeka Generation Package (MGP) that will cost S$8 billion - in current dollars - over the Merdeka Generation’s lifetimes, said Minister for Finance Heng Swee Keat on Monday.

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Singapore Budget 2019: S$6.1b Merdeka Generation Fund to be set up

THE Singapore government will set aside S$6.1 billion for a new Merdeka Generation Fund, aimed at funding the Merdeka Generation Package (MGP) that will cost S$8 billion - in current dollars - over the Merdeka Generation’s lifetimes, said Minister for Finance Heng Swee Keat on Monday.


 

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Singapore Budget 2019: Singapore to spend S$4.6b over next 3 years on economic transformation and jobs

S$3.6 billion will go towards helping workers to thrive amid industry and technological disruptions while the remaining S$1 billion will go towards helping firms build deep enterprise capabilities. 


Singapore Budget 2019: Doubling down on restructuring, S$1.1b Bicentennial Bonus

OVEr the next three years, the government expects to spend S$4.6 billion on these economic measures, with S$3.6 billion going towards helping workers, and the remaining S$1 billion to helping firms build capabilities.


Singapore Budget 2019: CPF top-up of up to S$1,000 for eligible Singaporeans aged 50 to 64 in 2019

THIS would be credited into the Special Account for members aged 50 to 54, and the Retirement Account for members aged 55 to 64. About 300,000 Singaporeans will benefit from this CPF top-up.


Singapore Budget 2019: Singapore to set aside another S$3.1b for Long-Term Care Support Fund

THIS is on top of the S$2 billion earmarked last year for premium subsidies and other forms of support for Singaporeans. 


Singapore Budget 2019: Workfare Income Supplement to be enhanced at S$206m more annually

THE WIS is a scheme that provides cash payouts and CPF top-ups for workers whose earnings are in the bottom 20 per cent and is aimed at almost 440,000 Singaporeans.


Singapore Budget 2019: More funding for re-hiring of older Singaporeans

THE Singapore government will top up the Special Employment Credit (SEC) Fund by S$366 million as it extends both the SEC and the Additional SEC (ASEC) scheme by another year.


Singapore Budget 2019: FY2019 budget position expansionary, with basic deficit of S$7.1b

"WHEN we exclude the Government's top-ups to funds and Net Investment Returns Contribution from past reserves, we expect a basic deficit of S$7 billion, or 1.4 per cent of GDP. FY2018 was hence an expansionary budget,''Finance Minister Heng Swee Keat said.


The STI today

Singapore stocks close higher on Monday; STI up 0.8% to 3,265.97

SINGAPORE stocks closed higher on Monday, with the Straits Times Index  gaining 26.23 points or 0.81 per cent to close at 3,265.97.