Newborns Will Get One-Time Financial Support, To Help Aspiring Parents With Expenses
The Covid-19 pandemic and accompanying economic downturn has affected many Singaporeans, and it’s worse if you have a family to feed.
Young couples wouldn’t be blamed for refraining from having children during these uncertain times, but the Government will be making it slightly easier to take the plunge.
That’s because a one-time financial support will be available for families with newborns.
One-off support to help aspiring parents
Deputy Prime Minister Heng Swee Keat revealed this during a ministerial statement in Parliament on Monday (5 Oct), reported The Straits Times.
He said it’s understandable that some aspiring parents had postponed their child-bearing plans due to income uncertainty brought about by the pandemic.
Thus, the support is a one-off measure that aims to absorb some of the expenses of aspiring parents whose plans to have children have been put on hold.
Support will come on top of Baby Bonus
Eligible new parents in Singapore already receive the Baby Bonus Cash Gift, which provides them up to $10,000 in benefits.
This helps to alleviate the costs of raising a child in the early years of their lives.
The support announced by Mr Heng on Monday (5 Oct) will be on top of the Baby Bonus, he said.
Will support lead to more babies born?
Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance, will reveal more specifics on this support in due course, Mr Heng said.
While it’s challenging to raise a baby even with help from the Government, any support will be welcomed by parents.
It remains to be seen, though, whether this support will lead to more babies being born, or at least help stem a decrease in births, amid these trying times.
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