One-Off Solidarity Budget Payout Will Help Households Through Covid-19 Crisis
With the circuit breaker measures to combat Covid-19 coming into play tomorrow (7 Apr), many are anxious on how this would affect our economy.
However, our government already has the Solidarity Budget on hand to help everyone deal with the financial impact.
In a ‘live’ address today (6 Apr), Deputy Prime Minister (DPM) Heng Swee Keat provided solutions for everyone to tide through this financially challenging time. This includes cash payouts for households that will be increased and brought forward.
Every adult Singaporean to get $600 cash in Solidarity Budget
DPM Heng announced that all eligible Singaporean adults will receive a one-off cash handout of at least $600 in total.
This sum of money comes from bringing forward the $300 ‘Care and Support’ cash payout announced earlier together with an additional $300-$900, depending on income.
This brings the highest possible receivable cash payment amount to $1,200.
For most Singaporeans who have provided their bank details, the government will be automatically crediting this sum directly into their accounts by next Wednesday (14 Apr).
For any other citizens, handouts will be given via cheques from 30 Apr onward.
Further top-ups for select groups
The Solidarity Budget already seems pretty solid on its own, but the Singapore government has gone above and beyond to protect us.
On top of the new budget payouts, select groups of Singaporeans will also receive additional cash handouts.
Parents will get $300 credited to each account if they have at least 1 child who is no older than 20 years of age.
For those aged 50 years and above, a $100 PAssion Card top-up will also be provided.
Reduced financial worries thanks to our government
While these payouts may not solve all our Covid-19 woes, we definitely have the government to thank for lightening financial loads island-wide.
Kudos to our Singapore government yet again for doing their best to alleviate burdens amidst this challenging time.
Featured image adapted from Business Insider.