( Singapore, 17th August 2020 ) The Singapore government will launch a Jobs Growth Incentive (Jobs Growth Incentive) worth S$1 billion (RM3 billion) to encourage companies that are still growing to recruit more Singaporean employees in the next six months.
Under this new plan, for every new Singaporean employee hired by a company, the government will share up to 25% of the salary of these employees for a period of one year. If employees are 40 years old and above, the government’s share will increase to as much as 50%.
Singapore’s Deputy Prime Minister and Minister of Economic Policy Coordination and Minister of Finance Wang Ruijie made the above announcement when he issued a ministerial statement this afternoon.
980 million consumer coupons to promote domestic travel
Wang Ruijie announced that the government will allocate S$320 million (RM980 million) as "tourism points" that Singaporeans can use to promote domestic tourism during the epidemic.
He said that in view of travel restrictions, foreign tourists to Singapore have "dried up", but the government is determined to support Singapore's tourism industry by promoting mainland tourism.
"Many Singaporeans like to travel, but they can’t do so now. Domestic consumption will not completely compensate for the consumption of tourists, but I hope Singaporeans can take this opportunity to explore domestic culture and heritage, natural landscapes, art and architecture. You will be What you find is pleasantly surprised."
Extension of employment allowance for seven months
In order to continue to support the employment of Singapore employees, the Singapore government has decided to extend the employment subsidy program for four to seven months, but various industries will receive different levels of assistance according to the recovery. The aviation, aerospace, and tourism industries that have been hit hard by the coronavirus epidemic will receive higher rates of employment subsidies.
Wang Ruijie issued a statement explaining the Singapore government's anti-epidemic relief measures in the next phase. Four anti-epidemic budgets with a total value of S$100 billion (RM300 billion) have been launched this year, of which S$52 billion (RM159.2 billion) comes from national reserves.
Wang Ruijie pointed out that although the Singaporean epidemic is under control and the anti-epidemic interagency working group is gradually restarting more economic activities in a safe and sustainable manner, the global economic situation is still weak.
"The employment subsidy program consumes a lot of our reserves and may trap our employees in unsustainable companies. In addition, some industries are recovering faster than others. Therefore, I will base our estimates on different industries. The recovery situation, adjust support for these industries."
Assist in the transformation or closure of nightclubs
Wang Ruijie pointed out that due to safety management considerations, some industries such as nightclubs cannot open their doors in a short period of time. Therefore, the Singapore government will assist these companies in transforming into other businesses or closing their operations. He said that it takes more time for those in the culture, arts and sports industries to fully resume their normal careers, and these industries are essential to strengthening the structure and diversity of Singapore’s society.
Coronavirus epidemic salary subsidy application period
extended to the end of the year
To help more Singaporeans who are unemployed or whose income is affected, the application period for the COVID-19 Support Grant will be extended by another three months to December this year. Wang Ruijie pointed out that this salary subsidy has benefited more than 60,000 people since it was launched in May. From October 1st, salary subsidies will be open to existing beneficiaries and new applicants. Eligible low- and middle-income Singaporeans can receive up to S$800 (RM2449) per month for up to three months.
**Info & Image are taken online
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