More Support For Businesses & Households Affected By Covid-19 Mitigation Measures
During an address to the nation on Friday (3 Apr), Prime Minister Lee Hsien Loong outlined further steps the Government is taking to contain the spread of Covid-19, including shutting down non-essential businesses and schools.
To cushion the impact these measures will have on businesses and ordinary Singaporeans, Mr Lee said the Government will provide more support over and above what was provided in the two earlier Budgets this year.
Additional support to be unveiled in Parliament
Next Monday (6 Apr), Deputy Prime Minister Heng Swee Keat will outline “additional support for households and businesses” in Parliament, said Mr Lee.
This is in addition to the support announced in the Unity Budget in February and Resilience Budget last week.
The reason for this support, as Mr Lee said, is because the measures to close non-essential workplaces “will impact our workers and businesses severely”.
Thus, the Government will help them come through this difficult time.
Other laws to be anticipated
New temporary laws will also be passed to allow businesses and individuals to defer their contractual obligations like rental, loan repayments and work completion for some time.
Finally, as reported on Thursday (2 Apr), the Government will also propose laws that require landlords to pass on property tax rebates to their tenants.
A helping hand for the unfortunate
While the fresh measures to contain Covid-19 are necessary, they will have a big impact on businesses that have to close, and the employees working for these businesses.
Thus, we welcome this new support, and hope that it will be enough to tide the affected people over.
Featured image adapted from YouTube.