Minister Heng Swee Keat announced today in Budget 2020 a New Jobs Support Scheme, which will offset 8% of wages, up to a monthly wage cap of S$3,600 for three months.
The payment will be given to employers by the end of July.
With over 1.9 million local employees, this will cost the Government S$1.3 billion.
Mr Heng also announced an Enhanced Wage Credit Scheme, which co-funds wage increases for Singaporean employees with gross monthly wage of up to S$4,000.
The government will raise wage ceiling from S$4,000 to S$5,000 for qualifying wage increases given in 2019 and 2020.
It will also raise government co-fund levels for 2019 and 2020 qualifying wage increases by five percentage points to 20% and 15% respectively.
With these enhancements, another S$1.1 billion will go to about 90,000 enterprises, to benefit more than 700,000 Singaporean employees, according to Mr Heng.
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