Covid-19 resilience package: All you need to know

Setting out the grim economic outlook worldwide, Mr Heng said the global economy is now facing both supply and demand shocks.
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Deputy Prime Minister Heng Swee Keat unveiled his Supplementary Budget in Parliament as Singapore grapples with an unprecedented crisis posed by the coronavirus pandemic. Here are the highlights.

Singapore Govt pumps in $48 billion more to fight Covid-19 fallout, on top of $6.4 billion already announced

In all, Singapore is dedicating about 11 per cent of its GDP to support businesses, workers and families.

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Covid-19: Billion-dollar measures to help Singapore's workers, self-employed and unemployed

The measures include the Jobs Support Scheme being enhanced and extended, and eligible self-employed Singaporeans getting $1,000 in cash a month for nine months.

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Covid-19 aid: $17 billion to be drawn from reserves for stimulus measures

It will be the biggest draw on the country's reserves, which has been used only one other time.

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President Halimah gives 'in-principle support' to draw on past reserves for 2nd coronavirus aid package

In a message read out in Parliament by Speaker Tan Chuan-Jin, Madam Halimah said she has given her "in-principle support" for the draw - which is before the House for debate.

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Up to $900 cash help for Singaporeans amid coronavirus outbreak, Govt to freeze fees and charges for a year

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Cash payouts announced in Budget 2020 last month will be tripled, with all adult Singaporeans receiving $300, $600 or $900 depending on their income.

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PM and ministers to take three-month pay cut in solidarity with Singaporeans coping with coronavirus

Political office-holders will take an additional two-month pay cut on top of the one-month pay cut announced last month, in light of the deteriorating situation caused by the coronavirus.

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Singapore Airlines expected to receive support from Temasek Holdings amid Covid-19 outbreak

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The airline has announced that it will slash 96 per cent of its capacity as countries, including Singapore, tighten their borders.

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Govt to subsidise wages of all local workers by at least 25 per cent amid Covid-19 outbreak

Firms will receive wage subsidies of between 25 per cent and 75 per cent for all local workers.

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3-month deferral of income tax payments for businesses, self-employed as part of Covid-19 support

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This is to help businesses and self-employed persons ease immediate cash flow concerns.

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10,000 jobs to be created over a year, $800 a month to be given to those who lose job amid Covid-19 outbreak

The unemployment assistance will be for low- and middle-income workers.

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For the latest updates on the coronavirus, visit here.

This article was first published in The Straits Times. Permission required for reproduction.