Deputy Prime Minister of Singapore Lawrence Wong, shared in a lengthy Facebook update about the rising costs of living.
He said that he understands that many people are concerned about the rising costs and costs of living, and provided an update on the support for households and businesses.
Here is what he said
I understand many of us are concerned about rising costs and the cost of living. Just like many countries around the world, Singapore too is affected by global inflation.
That is why I have given an update in Parliament of Singapore today, that we are providing support for our households and businesses now, and also helping our businesses to build their capabilities for the long-term.
- Up to $700 *moneybag emoji* in Aug this year for 1.5 million Singaporeans. This will benefit lower- to middle-income citizens, including retirees.
- $100 in CDC Vouchers in May, and another two tranches of $200 each in CDC Vouchers over the next 2 years
- About 5-7 months worth of rebates on utility bills for the whole of FY2022 for 3- and 4-room flat households
And if the situation worsens significantly, we will be prepared to do more, especially to take care of the vulnerable amongst us. We will get through this together, and come out stronger as one Singapore.