Announced on 6 April, the “Solidarity Budget” was announced on 6 April 2020 to further help workers and families throughout the Circuit Breaker period between 7 April and 4 May 2020.
The Solidarity Payment was one of the most immediate measures carried out, in which 9 in 10 Singaporeans will receive a one-off payout of $600 through their bank accounts on 14 April 2020. This measure hopes to provide urgent monetary support especially for low-income families.
Other measures have also been rolled to in order to support businesses affected by the economic downturn. This includes a $4 billion package to keep workers in jobs and help companies with cash flow, and $800 million to support front-line agencies fighting the outbreak.
With the newly implemented schemes, Finance Minister Heng Swee Keat hopes for businesses to retain their workers in order for Singapore to emerge stronger after the pandemic.
Let’s make the best use of what we have and all do our part in curbing the spread of the disease.