Coronavirus: DPM Heng Swee Keat to announce tax rebates & rental waivers for companies

Heng also called for Singaporeans to avoid spreading panic.

Matthias Ang | February 16, 2020, 06:01 PM

Deputy Prime Minister Heng Swee Keat will announce a slew of measures to help companies cope with the economic fallout of the novel coronavirus (Covid-19) outbreak during Budget on Feb. 18.

Such measures include tax rebates and rental waivers to help companies with their cash flow, as well as wage support, so as to help companies preserve jobs for their workers.

Additionally, a package will also be introduced to help households with their cost of living.

These were the remarks made by Heng on Feb. 16.

Aim is to help companies and workers

Heng elaborated that the aim was to help viable companies and workers stay in their jobs.

He noted that sectors such as food and beverage and retail had been particularly hard hit and that such sectors will receive more support as such.

Additionally, firms and workers will also receive support to restructure, train and upgrade themselves.

As per Heng on the government's efforts:

"I assure you as Finance Minister that this government will do all that is necessary to get workers and companies hit hard by this global health crisis, back on their feet."

Be socially responsible

Heng also called on Singaporeans to be socially responsible.

In stressing the need to regularly wash one's hands and avoid touching one's face, he also called for Singaporeans to be discerning about what they read on social media.

On this matter, Heng added that it was important to avoid spreading panic and rumours, and further stated that Singapore had sufficient supplies of food, masks and other essential items, "if used responsibly."

He further stated:

"We are actively replenishing our supplies and stockpiles from a diverse range of sources. But if you hoard, this will deny others with real needs."

Research community has also been working to address the outbreak

Heng also highlighted that the research community in Singapore was working to address the outbreak.

Noting that a diagnostic kit for the virus had been developed a week after the viral sequence was made available, he added that this had been highly helpful in screening for suspected cases.

Additionally, 20,000 test kits were also being sent to China as part of the global fight against the outbreak.

As per Heng on the matter:

"We are contributing test kits for 20,000 tests to China. China is putting in significant effort, and doing the best they can. All of us will benefit from China’s success in overcoming the outbreak. So Singapore and the global community must do our part to contribute to this effort."

Top image collage fro MCI