EMPLOYERS are to get the first tranche of wage subsidies under the Jobs Support Scheme, with more than S$7 billion to be disbursed, from Wednesday. Read more at The Business Times.
EMPLOYERS are to get the first tranche of wage subsidies under the Jobs Support Scheme, with more than S$7 billion to be disbursed, from Wednesday.
More than 140,000 employers - as well as 1.9 million of their citizen and permanent-resident workers - are expected to benefit from the upcoming payout, said the Ministry of Finance and the Inland Revenue Authority of Singapore in a joint statement. The Jobs Support Scheme was unveiled by Deputy Prime Minister Heng Swee Keat in his February Budget and twice enhanced thereafter. Under it, the government will foot the bill for part of local employees’ monthly wages for the nine months from October 2019 to July 2020.As the Covid-19 pandemic worsened in March, Mr Heng, who is also Finance Minister, set aside S$15.1 billion to cover at least 25 per cent of the first S$4,600 on each local worker’s pay cheque.
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