Additional Support Measures in Response to COVID-19 Pandemic
- The Deputy Prime Minister announced a $55 billion Resilience Budget to combat COVID-19's medical, economic, and social impacts, with $17 billion drawn from Past Reserves for exceptional circumstances.
- The budget prioritizes saving jobs and livelihoods through enhanced wage support schemes, cash assistance for households, and new initiatives like the Self-Employed Person Income Relief Scheme and SGUnited traineeships.
- It includes targeted support for hard-hit sectors like aviation and tourism, along with broad measures like property tax rebates and rental waivers to help businesses with cash flow and costs.
- The plan also builds economic resilience through investments in R&D, digitalization support for companies, and skills upgrading for workers to prepare for recovery.
- Political office holders, including the President and Speaker, will take a three-month pay cut in solidarity with Singaporeans during the crisis.