Deputy Prime Minister Heng Swee Keat announced today (February 16) that the Singapore government has set aside S$11 billion under the new Covid-19 Resilience Package.
It is meant to tackle three areas: safeguarding public health and reopening safely, supporting workers and businesses, and targeting support for sectors still under stress.
Of the total sum, S$4.8 billion will be dedicated to public health and safe reopening.
S$700 million will be dedicated towards the Jobs Support Scheme (JSS).
Supporting Workers And Businesses
So far, the government has committed over S$25 billion with the JSS.
The JSS which was announced last year aims to help protect jobs and help firms retain local workers.
However, as some sectors recover, others remain stressed. Thus, in Budget 2021, the JSS will be extended for sectors that continue to be hard hit, costing $700 million.
For firms in Tier 1 sectors such as aviation, aerospace and tourism, the JSS will be extended by six months.
Firms will receive 30 per cent support for wages paid from April to June 2021, and 10 per cent support for wages paid from July to September 2021.
Tier 2 sectors include retail, arts and culture, food services and built environment. For this tier, JSS will be extended by three months, and firms will receive 10 per cent support for wages from April to June 2021.
Firms in Tier 3B have had their JSS support discontinued after December 2020, as they are recovering well.
These firms include supermarkets and internet companies.
Tier 3A covers employers in all other sectors. As this sectors are generally recovering, the JSS will cease in March 2021.
Furthermore, specific schemes within the SGUnited Jobs and Skills Package, including the Jobs Growth Incentive and specific traineeship, attachment and training opportunities, will also be extended.
Featured Image Credit: SG Workers Says