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DPM Heng Swee Keat announced the #UnityBudget on 18 February 2020, the #ResilienceBudget on 26 March 2020, and the #SolidarityBudget on 6 April 2020. This meant an unprecedented three Budgets within 48 days.
Together, how do these Budgets benefit Singaporean workers, businesses, and households? Read this booklet to learn more:
https://www.singaporebudget.gov.sg/…/budget…/budgets-of-2020
A consolidation of measures announced under the Unity, Resilience and Solidarity Budgets
A month ago, I shared that the Monetary Authority of Singapore (MAS) announced a package of support measures to help SMEs and individuals meet their loan and in...surance commitments (https://go.gov.sg/hsk-mas). Since then, we have taken in feedback — with many asking for more help, especially with the extension of the circuit breaker measures.
In response, MAS has worked swiftly with the Association of Banks in Singapore and the Finance Houses Association of Singapore to extend the scope of relief for loan commitments. Individuals can opt in with their banks and financial institutions to defer principal payments up to the end of the year for those with commercial and industrial property loans, as well as renovation, education and motor vehicle loans.
During this challenging period, it is critical for us to ensure that basic banking services remain affordable for everyone. Banks will also waive fall-below fees and failed GIRO deduction charges for retail bank accounts.
The infographics below give more details.
