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SINGAPORE – Help is on the way for workers and businesses impacted by the global coronavirus outbreak, with additional relief to be provided to the hard-hit tourism and transport sectors.
The Government will dedicate $4 billion this year to help stabilise Singapore’s economy and help workers and businesses tide over a looming slowdown, Finance Minister Heng Swee Keat announced on Tuesday (Feb 18).
The Stabilisation and Support Package will provide job and cash flow support to help firms retain and retrain workers. Additional measures will be rolled out for the tourism, aviation, retail, food services and point-to-point transport services sectors, which have been directly affected by the coronavirus disease, officially named Covid-19.
JOBS SUPPORT
Mr Heng, who is also Deputy Prime Minister, said in his Budget speech that retaining jobs is the Government’s foremost concern.
“To help our workers stay employed, I will support enterprises by defraying their wage cost through two schemes,” he said.
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