Home News SG Allocates 1.1 Billion SGD in Support for Workers, Employers – Finance...

SG Allocates 1.1 Billion SGD in Support for Workers, Employers – Finance Minister

During the country’s current Phase 2 (Heightened Alert) period, the Singapore government would require private landlords to match its two weeks of rental relief cash payouts for occupants of privately owned commercial properties.

The government also acknowledged that not all landlords are in the same financial situation and that a framework would be put in place to take into account the circumstances of individuals experiencing “real hardship.”

Gov’t Allocates 1.1 bn SGD in Support for Workers, Employers – Finance Minister

Additional Financial Support for Workers, Employers in SG Approved – MOF

On Monday, Finance Minister Lawrence Wong said: “In the last Heightened Alert, we did not require private landlords to extend rental relief. Instead, we encouraged landlords to do their part to match the government relief,” Yahoo! News Singapore reported.

“However, many tenants, especially those in the affected F&B and retail sectors, have told us that not all landlords were forthcoming in providing such rental support,” Wong added.

The government would also help small and medium-sized businesses (SMEs) and eligible non-profit organizations by waiving rent for four weeks for qualifying renters of government-owned commercial premises.

Moreover, the increased pay assistance will help alleviate the impact of protracted safe management procedures and uncertainty.

For sectors that are compelled to stop or suspend operations, JSS support will be offered at a rate of 60%, up from 50% previously. “This will assist the food and beverage, sports, performing arts, and arts education industries,” Wong said.

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