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SINGAPORE – Families will get help with daily expenses and firms can look forward to tax rebates in the Budget on Tuesday (Feb 18) as the nation deals with the economic fallout from the coronavirus outbreak.
Finance Minister Heng Swee Keat said in a video message on Sunday (Feb 16) that the Government will do “all that is necessary” to help workers and firms recover from the health crisis.
“Never doubt that Singapore has the means to bounce back from this outbreak,” he added.
Mr Heng, who is also Deputy Prime Minister, said the Budget will have a package to assist households with cost of living to address concerns about expenses during this uncertain period.
Other broad-based measures include wage support to help companies preserve jobs for local workers, and tax rebates and rental waivers for firms to address cash flow issues.
There will also be support to help firms and workers restructure, train and upgrade in preparation for the eventual upturn.
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