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Jobs a key part of 4th coronavirus support package, President gives in-principle support to draw on reserves
The Government had earlier announced three Covid-19 support packages amounting to $63.7 billion.
SINGAPORE - President Halimah Yacob on Monday (May 25) said she has given her in-principle support for the Government to draw on the nation's reserves for a fourth support package to help businesses and people cope with the economic fallout from the Covid-19 pandemic.
In a Facebook post, Madam Halimah said Deputy Prime Minister Heng Swee Keat and his team of ministers had briefed her and the Council of Presidential Advisers (CPA) last week on the fourth Covid-19 support package.
"This is the fourth Budget within two months into the new financial year, and the second time past reserves are tapped for the Government's Covid-19 response," she said.
The coronavirus crisis is unprecedented, she said, and the situation remains volatile, with significant uncertainties in global economy.
"Lives and livelihoods continue to be at stake. It is critical that we re-open safely, so economic activities will remain slow even as we try to restart them," she said.
"Having deliberated and considered the recommendation of the CPA, I am satisfied that the fourth support package is necessary to ensure a safe transition to this new normal for Singapore."
Her post comes ahead of a ministerial statement on the fourth round of Covid-19 support measures, which Mr Heng, who is also Finance Minister, will deliver on Tuesday.
Mr Heng thanked Madam Halimah and members of the CPA for considering the proposals on short notice.
"The decision to use our past reserves has not been an easy one - we deliberated long and hard on this. Our past reserves were hard earned, and we have the responsibility of making every dollar count," he said in a Facebook post.
Naming the fourth Covid-19 support package the "Fortitude Budget", he said jobs will be a key part.
The Jobs Support Scheme has helped many employers retain their workers, he said, while acknowledging that some have lost their jobs or are worried that they might be retrenched.
"Those in your 40s and 50s are more anxious. We will help you turn anxiety into action," said Mr Heng.
This includes support for people to learn and upskill, and the creation of new jobs for those who are seeking employment.
"We are also creating traineeships and other opportunities for those completing their post-secondary education this year," he said.
The upcoming Budget will also provide additional support for social sector agencies, so they can continue to help the vulnerable among us and better mobilise Singaporeans to contribute their time and monies as the pandemic continues, Mr Heng added.
The Government had earlier announced three Covid-19 support packages amounting to $63.7 billion, which were rolled out between February and April.
SINGAPORE - President Halimah Yacob on Monday (May 25) said she has given her in-principle support for the Government to draw on the nation's reserves for a fourth support package to help businesses and people cope with the economic fallout from the Covid-19 pandemic.
In a Facebook post, Madam Halimah said Deputy Prime Minister Heng Swee Keat and his team of ministers had briefed her and the Council of Presidential Advisers (CPA) last week on the fourth Covid-19 support package.
"This is the fourth Budget within two months into the new financial year, and the second time past reserves are tapped for the Government's Covid-19 response," she said.
The coronavirus crisis is unprecedented, she said, and the situation remains volatile, with significant uncertainties in global economy.
"Lives and livelihoods continue to be at stake. It is critical that we re-open safely, so economic activities will remain slow even as we try to restart them," she said.
"Having deliberated and considered the recommendation of the CPA, I am satisfied that the fourth support package is necessary to ensure a safe transition to this new normal for Singapore."
Her post comes ahead of a ministerial statement on the fourth round of Covid-19 support measures, which Mr Heng, who is also Finance Minister, will deliver on Tuesday.
Mr Heng thanked Madam Halimah and members of the CPA for considering the proposals on short notice.
"The decision to use our past reserves has not been an easy one - we deliberated long and hard on this. Our past reserves were hard earned, and we have the responsibility of making every dollar count," he said in a Facebook post.
Naming the fourth Covid-19 support package the "Fortitude Budget", he said jobs will be a key part.
The Jobs Support Scheme has helped many employers retain their workers, he said, while acknowledging that some have lost their jobs or are worried that they might be retrenched.
"Those in your 40s and 50s are more anxious. We will help you turn anxiety into action," said Mr Heng.
This includes support for people to learn and upskill, and the creation of new jobs for those who are seeking employment.
"We are also creating traineeships and other opportunities for those completing their post-secondary education this year," he said.
The upcoming Budget will also provide additional support for social sector agencies, so they can continue to help the vulnerable among us and better mobilise Singaporeans to contribute their time and monies as the pandemic continues, Mr Heng added.
The Government had earlier announced three Covid-19 support packages amounting to $63.7 billion, which were rolled out between February and April.
