Best response to COVID-19 pandemic is to build resilience in economy, society: DPM Heng

Said Mr Heng: “For our economy, we build resilience by ensuring that viable businesses are not permanently damaged but instead, are able to preserve their capabilities to recover.”

READ: COVID-19: Singapore makes 'decisive move' to close most workplaces and impose full home-based learning for schools, says PM LeeHaving resilient firms will help to save more jobs, which is the Government’s other priority apart from saving lives.through the new Jobs Support Scheme , scrapping of property tax for those in harder-hit sectors, temporary deferment of corporate income tax payments and enhancements to various financing schemes have been announced.

For instance, the JSS “will fail if firms take a short-term view, pocket the payouts in one month and retrench their workers the next month”. “As long as you pay your employees’ wages and make the necessary CPF contributions, you will receive the corresponding JSS payouts for the relevant months,” he said.The Public Service is also working towards making faster payments to businesses supplying goods and services to the Government.

Some property owners have commented that such an obligation penalises them, but Mr Heng said this move does not make property owners worse-off. "In fact it staves off rental terminations and keeps their premises rented out," he added.

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