"Our sector-specific measures are calibrated according to the extent to which each sector has been affected," he added, noting that the hardest-hit sectors of tourism, accommodation and aviation will receive over S$400 million in total, in addition to broad-based support.
Replying to MPs who asked for more help for the self-employed and freelancers, Mr Heng said the relevant ministries will announce details for these groups subsequently. Beyond the Covid-19 crisis, Mr Heng spoke on Singapore's fiscal approach and the need for the goods and services tax hike, noting that recurrent spending needs to be funded by recurrent revenues,"not one-off surpluses seen in this term of government, which arose from an unexpected rally in global financial markets, and the unexpected buoyancy in the property market".
Foreigners residing in Singapore, tourists and the top 20 per cent of resident households are estimated to account for over 60 per cent of the net GST borne by all households and individuals, even after taking into account GST refunded under the Tourist Refund Scheme, he noted.
Source: News Formal (newsformal.com)
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