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With the Unity Budget and Resilience Budget announced earlier this year, Deputy Prime Minister and Minister for Finance Heng Swee Keat had outlined support for workers to help them stay employed, particularly those in sectors affected by the COVID-19 situation.

With the heightened measures during the Circuit Breaker period in April, businesses and workers are more severely impacted than before. DPM announced the Solidarity Budget on 6 April 2020, which will support workers during this period, and help firms retain their employees.

This will supplement the support for workers that was earlier announced at the Unity and Resilience Budgets.

Here’s a recap of what workers can receive at the latest Solidarity Budget, as well as from the earlier announced Unity Budget and Resilience Budget.

Unity Budget [announced 18 Feb 2020]

  • Jobs Support Scheme to provide wage support
  • $500 SkillsFuture Credit top-up for all Singaporeans aged 25 and above
  • Senior Worker Support Package to help companies retain senior workers
  • SkillsFuture Mid-Career Support Package for those in their 40s and 50s to reskill
  • 70-70 target for youths for them to go for overseas programmes

Resilience Budget [announced 26 Mar 2020]

 
  • Enhancements to the Jobs Support Scheme to provide enhanced wage support, particularly for those in sectors most affected by COVID-19
  • Self-Employed Person Income Relief Scheme (SIRS) – monthly cash payout to eligible SEPs
  • Self-Employed Persons Training Support scheme to help SEPs train and upskill
  • Enhanced Workfare Special Payment – one-off cash payment of $3,000
  • COVID-19 Support Grant for lower and middle-income workers who lost their jobs
  • Temporary Relief Fund for families who need urgent help
  • SGUnited Jobs initiative to create 10,000 jobs in one year
  • SGUnited Traineeships to support 8,000 traineeships for first-time jobseekers


Solidarity Budget [announced 6 Apr 2020]

Further enhancements to the Jobs Support Scheme will help to save jobs:

  • The Government will pay 75% of the first $4,600 of monthly salaries for all local employees for April 2020
  • First JSS payout brought forward from May to April
  • From May 2020, wage subsidy levels will revert to what was announced in Resilience Budget

More Self-Employed Persons (SEPs) to get help

  • More SEPs to qualify for SEP Income Relief Scheme (SIRS)
    • To include all who also earn a small income from employment work
    • Raise the Annual Value threshold from up to $13,000 to up to $21,000
  • A total of about 100,000 SEPs will receive three quarterly cash payouts of $3000 each, starting from May 2020
The primary aim of this Solidarity Budget is to take further steps to save jobs and protect the livelihoods of our people during this temporary period of heightened measures.
Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on 6 Apr 2020

For more on Budget 2020, visit www.singaporebudget.gov.sg

View the Budget booklets here

 

Topics
Economy & Finance Employment

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