Care and Support Package worth S$1.6b to help households
Singapore
AN S$1.6 billion Care and Support Package was unveiled to help Singaporeans with their household expenses in the light of the economic slowdown and uncertainties of the Covid-19 outbreak, said Deputy Prime Minister and Finance Minister Heng Swee Keat in his Budget speech on Tuesday.
This includes a one-off cash payout of up to S$300 for all Singaporeans above 21 years of age. The payout is tiered to personal income levels. Individuals with assessable income of up to S$28,000 for the year of assessment (YA) 2019 will get S$300. Singaporeans with assessable income between $28,001 and S$100,000 will get S$200 while those who exceed S$100,000 or who own more than one property will get S$100.
Adult Singaporeans with at least one Singaporean child aged 20 and below will get a further S$100 cash payout. In addition, Singaporeans aged 50 and above, including the Pioneer Generation and Merdeka Generation seniors, will get a S$100 top-up to their PAssion Card.
"After the heads-up given by Finance Minister Heng, we were looking forward to see what sort of help households would receive," Kerrie Chang, partner, People Advisory Services, Ernst & Young Solutions, told The Business Times.
"The Care and Support Package is a generous one, providing immediate relief to Singaporeans who need it most. It's clear that swift and decisive actions have been taken to provide assurance and support to households to alleviate the cost of living during these uncertain times."
As part of the package, Mr Heng also announced that eligible HDB households will receive additional GST vouchers. This includes a one-off U-Save Special Payment, which effectively doubles the annual utilities rebate provided through the existing U-Save scheme.
In addition, larger households with five or more members will get an additional U-Save rebate. These households can receive up to S$1,000 in U-Save rebates, depending on their flat type. Together with the U-Save Special Payment, they can receive a total of 2.5 times their regular U-Save rebates this year. These households can receive up to S$1,000 in U-Save rebates, depending on their flat type, said Minister Heng.
The Service and Conservancy Charges Rebate will be extended by another year. Eligible HDB households will receive rebates of between one-and-a-half and three-and-a-half months.
Lower-income Singaporeans will also get additional help with their daily living expenses, Mr Heng added.
Through a Workfare Special Payment, Singaporeans on Workfare will receive 20 per cent more in cash for work done in 2019, with a minimum payment of S$100. In addition, needy Singaporeans will receive grocery vouchers worth S$100 in 2020 and 2021. These vouchers can be used at major supermarkets and will directly help needy households with one of their major cost of living items - food.
This is in addition to the Workfare Transport Concession Scheme and Public Transport Voucher announced by the government in October last year, to help cushion the transport fare increases for lower-income households.
Together, the Care and Support Package will provide a young family with about S$1,300. A three-generation family can receive more - about S$1,800, said Mr Heng.
Separately, Mr Heng noted that a S$10 million grant will be given to self-help groups over two years, and a further S$20 million to Community Development Councils to help fund community programmes for needy households.
National Volunteer & Philanthropy Centre's CEO Melissa Kwee noted that while people naturally become more inward-looking in times of economic uncertainty and crisis, the Budget shows there is plenty for everyone. "We are heartened to see a Budget that is people-centred and closely aligned with this vision."
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