All you need to know about the Budget
In addition to the $60 billion set aside in the Unity, Resilience, and Solidarity Budgets, Singapore government mobilised an additional $33 billion in the Fortitude Budget to re-open the economy, recover, and emerge stronger.
The fortitude budget aims to Create jobs and build skills for workers, Boost transformation for enterprises, Strengthen resilience for the community.
Below we list down the additional initiatives that will save your businesses, thousands of dollars
Enhancement to Co-fund your local employees’ salaries: Jobs Support Scheme (JSS)
- To help workers stay employed and employable, August 2020 wages will be covered.
- For firms that are not allowed to resume operations, the government will continue to provide 75% support until August 2020 or whenever allowed to reopen. (whichever is earlier).
- Increased support for some of the affected sectors from 25% to 50% or 75%.
- Eligible sectors will also receive a top-up to their previous pay-outs.
To see the details of initial Job support scheme coverage click here.
Jobs Creation and building Skills: SGUnited Jobs & Skills package
The government will aim to create 40,000 jobs by the end of 2020 of which public sectors to offer 15,000 jobs & private sectors to offer 25,000 jobs. The action plans aim to provide
- 21,000 traineeships for local first-time job seekers. Applications will open from 1 June 2020.
- 4,000 traineeships for local mid-career job seekers to learn new skills and start new careers.
- Training courses will be provided for about 30,000 job seekers to upgrade their skills while looking for a job.
- Training allowance of $1,200 per month for course duration (between 6 to 12 months) to cover basic expenses. The skill pages will be rolled out progressively from July 2020.
- Hiring incentive will be provided for employers who hire local workers who have completed the eligible training programmes. The hiring incentive will cover workers of all age.
| Age group | Amount of incentive | Capped at |
| Under 40 | 20% of monthly salary for 6 months | $6,000 in total |
| 40 and above | 40% of monthly salary for 6 months | $12,000 in total |
For more details on the SGUnited Jobs & Skills packages click here
Enterprise Support: To help with cash flow, costs & Credits
- Foreign Worker Levy Waiver & Rebate will be extended by up to 2 months for businesses that are not allowed to resume operations after the circuit breaker. The below table will highlight the wavier and the rebate.
| Month | Waiver | Rebate |
| June 2020 | 100% | $750 |
| July 2020 | 50% | $375 |
- The Increase in CPF contribution rates for senior workers will be deferred by 1 year, from 1 January 2021 to 1 January 2022
- $2 billion in cash grants will be provided to help SME tenants with rental costs. Including the Property Tax Rebate for 2020, The Government will Offset 2 months’ rental for qualifying SME tenants of commercial properties.
- They will also Offset 1 month’s rental for qualifying SME tenants of industrial and office properties.
- Additional rental waiver for commercial and other non-residential tenants of government properties will be provided. The details are as follows:
| Tenant Type | Previous | New | Total |
| Stallholders of hawker centres and markets | 3 Months | 2 Months | 5 Months |
| Commercial | 2 Months | 2 Months | 4 Months |
| Industrial, office and agriculture | 1 Months | 1 Months | 2 Months |
- $4.5 billion of Financial support for promising start-ups are available in form of loan catalysed through governments financing schemes such as Temporary Bridging Loan Program, Enterprise Financing Scheme.
- Additional $258 Million is allocated as financing support, for promising start-ups by co-investing with the private sector, on top of $300 million set aside under the unity budget for deep tech start-ups.
Leveraging Technology Digital transformation and innovation
- Bonus of $300 per month over 5 Months will be provided to encourage adoption of e-payments by stallholders in Hawker centres, wet market, coffee shops, industrial canteens. Pilot program will be starting with Food Services and Retail sectors.
- Pay-out of up to $5,000 will be provided to help businesses digitalise with PayNow Corporate, e-invoicing, business process or e-commerce solutions.
- Additional pay-out of $5,000 for businesses will be provided for those that use advanced solutions.
- The government will encourage partnership with the private sector for industry led solutions to reopen Singapore safely.
Strengthening Community Resilience
Helping with Immediate Needs
- Additional $800 million is set aside for Covid-19 support grant (CSG) to continue supporting Singaporeans and Permanent Residents (PRs) who need help.
- Support will be provided for Singaporeans and PRs who have lost their jobs; are placed on no-pay leave; or, face significantly reduced salaries due to Covid-19.
- Pay-outs will be Up to $800 per month for 3 months for eligible recipients.
To know more on the CSG and how to apply click here
Helping with Household Expense
- The government will pay a One-off $100 Solidarity Utilities Credit for each household with at least one Singapore Citizen living, Covering all property types.
- The pay-out will be credited to households’ in July or August 2020 utilities bills with SP Group.
- This package comes on top of the Solidarity Payment and Care & Support Package.
Fostering Digital Inclusion
- Accelerated timeline for Students of all secondary school, to own a digital learning device.
- Seniors Go Digital movement for seniors are aimed to build digital literacy through one-to-one coaching and small-group learning. Financial support for lower-income seniors will be provided to own digital devices.
Build a Stronger Social Sector
- Dollar-for-dollar matching on eligible donations will be raised between 1 April 2020 to 31 March 2021 under Tote Board’s Enhanced Fund- Raising Programme, capped at $250,000 matching per charity.
- $18 million top-up will be provided to the Invictus Fund to help the social service agencies maintain services, retain staff, and adopt technology.