Here are the 3 ways the Resilience Budget 2020 will help families cope during this uncertain period.
1. Help with daily expenses
• Enhanced Care and Support
→ One-off cash payout will be tripled, from the earlier announced $100-$300, to a range from $300 to $900, depending on income.
• Additional help for Families with young children
→ Additional cash payout to each parent tripled, from $100 to $300.
• Enhanced Workfare Special Payment for lower-wage workers
→ Cash payout of $3,000 this year.
• Enhanced Grocery Voucher
→ For needy Singaporeans, they will receive triple of the grocery vouchers given to them, from $100 to $300 for this year. Together with the $100 that will be given next year, needy Singaporeans will get a total of $400 in Grocery Vouchers over 2020 and 2021.
• PAssion card top up for Singaporeans aged 50 years and above
→ The earlier-announced one-off PAssion card top-up will be in cash instead, so as to avoid the need to queue at top-up stations during this period.
2. Strengthening our network of support
• Double grants to Self-Help Groups to $20 million over two years
• Increase additional grant to Community Development Councils (CDCs), from $2 million to $75 million
• $25 million NTUC Care Fund (COVID-19)
→ Up to $300 of one-off relief to low- to middle- income union members.
• $4 million top-up to the Self-Employed Person Training Support Scheme
→ Union members to get an additional training allowance of up to $1 per hour. This will be on top of enhanced training allowance rates of $10 per hour.
3. Greater flexibility on fees and loans
• Government fees and charges
→ One-year freeze on all government fees and charges, from 1 April 2020 to 31 March 2021. This will apply to all fees for government services.
• Student Loan Relief
→ One-year suspension of loan repayment and interest charges, from 1 June 2020 to 31 May 2021. This applies to all graduates who have taken a government loan for their university and polytechnic studies.
• HDB Mortgage Arrears Relief
→ Three-month suspension of late payment charges on HDB mortgage arrears. HDB will continue to exercise flexibility when providing assistance during this period, through existing measures such as deferring payment of loan instalments for six months.
The Government will continue to monitor the situation closely and will take swift action to do more if needed.
For more on Budget 2020, visit www.singaporebudget.gov.sg.
View the Budget Booklet here.