Gov’t Releases S$1.5 billion support package
Singapore. New support measures were recently enacted by the government to help Singaporeans combat inflation., Eligible Singaporeans can get up to S$500 in cash. Meanwhile, households can get an additional CDC voucher worth S$100.
Around 2.5 million adult Singaporeans (21 years old and above) are expected to receive up to S$500 in cash. This is around 80% of income earners in the country. Eligible recipients must not earn more than S$100,000 annually and must not own more than one property.
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Those with less than S$22,000 income will get S$500. Meanwhile, individuals with an income between S$22,001 and S$34,000 will be given S$400. Lastly, those who earn S$34,001 to S$100,000 will get S$300.
The new measure also includes vouchers for public transportation, as well as subsidies to help Singaporeans deal with the recent fare increase. All these are part of the S$1.5 billion support package for households, particularly lower to middle-income groups. The new support package is also set to cover school expenses for students.
According to the Ministry of Finance, funds from the effort are from the “better-than-expected fiscal out-turn” in the first half of 2022.
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