“This year’s Budget has extra significance” says PM Lee

Singapore – PM Lee went to Facebook to express the “extra significance” of this year’s Budget.

On February 18, Tuesday, Deputy Prime Minister and Minister of Finance Heng Swee Keat announced the 2020 Budget in Parliament.

One of the core points mentioned was the Stabilisation and Support Package to be introduced to workers and enterprises to help them get through the effects of the Covid-19 outbreak.

“This year’s Budget has extra significance,” said Prime Minister Lee Hsien Loong on his Facebook profile soon after the Budget hearing. “It provides critical support for Singaporeans and our economy as we deal with the Covid-19 outbreak,” he added.

The Stabilisation and Support Package aims to help workers keep their jobs and businesses to earn more cash flow through various schemes such as tax rebates and enhanced wage schemes. A total of S$4 billion has been allotted for the package.

PM Lee noted that the Government was able to provide such an amount “because of our fiscal prudence and discipline over many years.” He added that “together, we have put aside enough to cope with a rainy day like this.”

There is also the Care and Support Package to be implemented for families and households affected by the virus outbreak. The initiative, which is estimated to cost about S$1.6 billion, will provide cash support, special payments, vouchers, rebates, among others, as extra assistance.

PM Lee urged everyone to continue to “steward resources and strengths so that we are ready to grow again when the outbreak ends.”

Meanwhile, “let us continue to look out for one another, and keep building Singapore together,” he added.

Many netizens commented on his post and shared their appreciation for the Budget’s focus on those directly-affected by Covid-19.

Gavin Zheng wrote that the Budget would “indeed assist families in coping with daily essential expenses.”

Lily Lee thanked the prime minister, DPM Heng and everyone involved for drafting the Budget.

A certain Swee Keow Koh said something quite refreshing to hear, based on the Singaporean’s favourite pastime: “Great Budget! Though cannot please everyone, there is not much to complain about either,” said the netizen.

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Budget 2020: Cash-flow assistance to enterprises, especially those hit by Covid-19 outbreak