The government will introduce a $900 million Household Support package for Singaporean households amid the uncertain economic situation here, Deputy Prime Minister Heng Swee Keat announced in his Budget 2021 speech on Tuesday (16 February).
The package includes Goods and Service Tax (GST) vouchers, the extension of rebates on Service and Conservancy Charges (S&CC), Community Development Council (CDC) vouchers, and an additional S$200 top-up to government-backed accounts for families with Singaporean children below the age of 21.
Mr Heng said this Household Support package provides “some support to all families, with lower- to middle-income families receiving more.”
Budget 2021: Singaporean Households To Receive GST Vouchers, S&CC Rebates and More
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An additional one-off cash payment of S$200 will be given to lower- and middle-income Singaporeans in June, under the GST Voucher scheme. This will be given on top of the regular payment paid out every August.
In addition, all eligible Housing and Development Board (HDB) households will receive an added 50 per cent of their regular GST Voucher–U-Save this year through a one-off GST Voucher-U-Save Special Payment. The payment of between S$120 and S$200 in total will be credited in April and July, together with the regular U-Save rebates.
In total, 1.4 million Singaporeans will receive up to S$500 in GST Voucher – Cash and Cash Special Payment this year.
Mr Heng also announced the extension of rebates for S&CC for another year.
Eligible households living in HDB flats will receive rebates to offset between one-and-a-half and three-and-a-half months of the charges, depending on their HDB flat type. Households will receive the rebate over four quarters in April, July, October this year and January next year.
This scheme will benefit about 950,000 Singaporean households.
The government will also give about 1.3 million Singaporean households S$100 worth of CDC vouchers. These can be used at participating heartland shops and hawkers.
According to Mr Heng, an additional grant of $150 million will be provided to the CDCs to fund this grant. More details on this will be announced by the CDCs later.
“I hope that this new tranche of vouchers can bring more businesses to our hawkers and heartland shops,” Mr Heng said.
Budget 2021: More Support For Families With Children
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Meanwhile, to further support parents “as they invest in their children’s future,” Singaporean households with children below the age of 21 will also get an additional S$200 top-up to their Child Development Account, Edusave account, or Post-Secondary Education Account which can help fund education-related expenses.
This scheme will benefit about 780,000 children.
Government Thankful For Singaporeans’ “Sense Of Solidarity”
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Mr Heng said Singaporeans’ sense of unity and discipline in observing the precautionary measures such as safe distancing and mask-wearing has “enabled our progress so far in combating the pandemic.”
He said the package also aims to thank all Singaporeans for their “sense of solidarity.”
This is the country’s sixth budget aimed at mitigating the effects of the COVID-19 pandemic. The Government introduced five budgets last year, which included the Care and Support Package and the Solidarity Payment, both of which offered a one-time cash payment to Singaporeans aged 21 and above.
According to Mr Heng, who is also the Finance Minister, these budgets brought “immediate relief and support.”
“Beyond economic opportunities, what is fundamental is our sense of purpose and our sense of togetherness. Since our independence, we have been seeking to build a fair, just, and caring society. We have been building strong bonds as a people, and deepening our social compact,” Mr Heng said.
The minister noted that in this pandemic, “we have seen how Singaporeans united in adversity and supported one another.”
“Singapore is not immune to these challenges. We must continue to strengthen our social fabric, and reject forces of division and discord,” Mr Heng added.
You can check the Budget 2021 speech, here.
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