📆 Financial help for Singaporeans will be rolled out throughout this year. Details from SGBudget2023:
SINGAPORE - Singaporeans will get more help to cope with inflation and cushion the impact of the higher goods and services tax rate.
Separately, the Assurance Package – first introduced in 2020 – will be topped up by $3 billion. This will bring the total amount to be eventually disbursed to $9.6 billion, fromThe cash component will be increased by between $300 and $650 for eligible Singaporeans, bringing the total amount received by each adult Singaporean to between $700 and $2,250 over five years.
- A Cost-of-Living Special Payment of between $200 and $400 for each eligible adult Singaporean aged 21 and above in 2023. This will benefit about 2.5 million adult Singaporeans. DPM Wong said: “These enhancements to the AP will enable us to maintain the commitments we had set out earlier, which is to offset additional GST expenses for at least five years for the majority of Singaporean households, and for about 10 years for lower-income households.”
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