Budget 2020: 5 things Singapore’s youth need to know

A $106 billion Unity Budget was unveiled by Deputy Prime Minister Heng Swee Keat on Feb 18. Along with strategies to tackle immediate and long-term challenges were measures to help Singapore’s youth face a secure future with confidence.1. Building a future-ready workforce As global competition intensifies in a fast-changing economy, Singaporeans will need to learn new skills or risk falling behind.

Mr Heng said the increase in overseas exposure would equip students with cross-cultural skills and help them understand the region better. A new initiative, called the Asia-Ready Exposure Programme, will support young Singaporeans’ visits to these regions. "The one-off cash payout is definitely welcome,” said Ms Zoe Hwee, 24, a polytechnic graduate who lives with her parents and two siblings in a five-room Housing Board flat. “In addition to the GST Voucher scheme, I will receive more cash this year."

3. GST offset package In his Budget speech, Mr Heng stressed that the goods and services tax hike from 7 to 9 per cent, set to take effect sometime between 2021 and 2025, is needed to fund upcoming spendings, especially on healthcare. 4. More support for education Pre-university students from lower-income families will get an extra $100 under the Ministry of Education’s Financial Assistance Scheme, with the quantum raised from $900 to $1,000. All students will also receive higher transport subsidies, with secondary school students getting more school meal subsidies.

This includes plans to increase the number of Government-supported pre-schools from just over half of all pre-schools in Singapore now to 80 per cent by 2025. Among them are early adoption incentives, where those who buy fully electric cars and taxis will receive a rebate of 45 per cent off the Additional Registration Fee — capped at $20,000 per vehicle. The initiative will run for three years from January 2021.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Malaysian PM Muhyiddin calls for prompt execution of 2020 budget and stimulus packageKUALA LUMPUR: Malaysia's newly-installed Prime Minister Muhyiddin Yassin has tasked the civil service to implement the annual budget put forth by ... Some will surely go into the pockets... Muka Melayu pengkhianat...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tennis: Women's Tour continues with 2020 schedule amid coronavirus concernsMUMBAI: The Women's Tennis Association (WTA) has said it hopes to forge ahead with the remainder of the 2020 world tour despite widespread ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nationwide network of 1,000 parcel locker stations to roll out from late 2020SINGAPORE: A nationwide network of 1,000 parcel locker stations will be progressively rolled out by the Infocomm and Media Development Authority ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Olympic chiefs prepare for 'successful' Tokyo 2020The International Olympic Committee (IOC) kicked off a crucial executive board meeting on Tuesday to discuss the threat of the coronavirus to this ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Missing Malaysian pastor Raymond Koh's wife Susanna Liew named 2020 International Woman of the YearPETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Ms Susanna Liew, the wife of pastor Raymond Koh who mysteriously vanished in February 2017, has been named the International Woman of the Year in 2020 by the Annual International Women of Courage (IWOC) Awards.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Olympics: IOC not discussing cancellation or postponement of Tokyo 2020, says Thomas BachLAUSANNE, SWITZERLAND (AFP) - International Olympic Committee president Thomas Bach insisted that the nightmare scenario of either cancelling or postponing the Tokyo Olympics was not discussed at a key meeting on Wednesday (March 4) despite fears over the spread of the deadly coronavirus.. Read more at straitstimes.com. They better do and not think that sports is bigger than this Covid
Source: The Straits Times - 🏆 8. / 63 Read more »