New Solidarity Budget will help Singapore tide through 'circuit-breaker' period: DPM Heng

DETAILS of another major support package - called the Solidarity Budget - will be announced in Parliament on Monday afternoon by Deputy Prime Minister and Finance Minister Heng Swee Keat.

In a first for the country, this will be the third round of measures that the government has introduced in the past seven weeks, after the S$6.4 billion Unity Budget in February and the historic S$48.4 billion Resilience Budget last month.

In a Facebook post on Sunday, Mr Heng said the Solidarity Budget will contain additional support measures for workers, businesses and households to help tide through the four-week "circuit-breaker" period, when all schools and the majority of workplaces will be shut until May 4.

"We are living in extraordinary times. This is the first time in our history that we will be closing all schools and most workplaces across the island for a month - a painful but necessary 'circuit-breaker' to stem the tide of Covid-19 cases," he said.

"The Covid-19 situation has taken a very sharp turn, both globally and locally. Strong measures have to be taken to protect lives, but the economy has taken a hit as a result," he added.

He stressed that Singaporeans must remain steadfast in the face of crisis, and stand in solidarity with one another during these difficult times. The values of unity, resilience and solidarity will one day define who Singaporeans are as a people, said Mr Heng.

"The bonds that bind us together will be forged and renewed in this crisis, much as how the turbulent years of independence brought our founding generation together," he said.

"This is a defining chapter of our generation. Together, we will pull through and emerge stronger. When the storm eventually subsides, as our storms do, I am confident that as a stronger society, we can build an even better future for our children and our grandchildren."