Debate on Annual Budget Statement
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The government proposed a $106 billion Unity Budget to address the immediate economic impact of COVID-19 through a $4 billion Stabilisation and Support Package, which includes wage support, rental waivers, and loans for affected businesses and workers, while also delaying the GST increase to 2022 and providing a $6 billion Assurance Package to offset future hikes.
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Emphasis was placed on long-term economic transformation and workforce resilience, with investments in SkillsFuture initiatives, a Mid-Career Support Package for workers aged 40-60, and the creation of a Job Security Council to facilitate job matching and re-skilling amid structural shifts and technological changes.
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Parliament members stressed the need for unity, tripartite cooperation, and support for vulnerable groups, including mid-career PMETs, self-employed persons, and seniors, while urging faster implementation of relief measures and further assistance for sectors indirectly affected by the crisis.