Ministerial Statement August 2020 Summary

Dear Reader,

Welcome to our Ministerial Statement August 2020 Summary

Our Singapore Government has further plans in place to continue supporting workers, businesses and protect livelihoods from the COVID-19 pandemic.

The following government support measures are delivered by Minister for Finance, Mr. Heng Swee Keat via a Ministerial broadcast on Monday, 17 August 2020.

Jobs Support Scheme extension

  • Support for wages extended up to March 2021
  • Up to 50% support, based on projected recovery of the different sectors

Ministerial Statement August 2020 Summary

 

Jobs Growth Incentive Programme

  • $1 billion programme to support firms to increase their headcount of local workers over the next six months
  • For each new local hire, Government will provide wage subsidy for 12 months

– Up to 25% for those below 40 years old, subject to cap

– Up to 50% for those aged 40 and above, subject to cap

 

COVID-19 Support Grant (CSG)

  • Application period extended up to December 2020
  • Open to both existing CSG recipients and new applicants from 1 October 2020
  • Unemployed applicants must demonstrate job search or training efforts to qualify

 

Workfare Special Payment

  • Eligibility widened to those who received Workfare Income Supplement for work done in 2020 and who are not already receiving the Special Payment
  • One-off payment of $3,000 to be received from October 2020 onwards

 

Further Support for Aviation, Aerospace, and Tourism Sectors

  • $187 million to extend support measures in the Enhanced Aviation Support Package up to March 2021
    • Cost relief for our airlines, ground handlers, cargo agents, and airport tenants
    • Support local carriers to regain Singapore’s air connectivity to the world
  • Temporary redeployment programme scaled up for workers in the aviation sector
  • $320 million to boost domestic tourism through tourism credits (SingapoRediscovers Vouchers)

 

Startup SG Founder Programme

  • Set aside up to $150 million to enhance the programme in phases
    • Raise the startup capital grant
    • Continue to provide mentorship