THE Self-Employed Person Income Relief Scheme is expected to cost S$2 billion in total with the disbursement of the third and final tranche in October, far more than the original S$1.2 billion set aside in the Resilience Budget in March, Manpower Minister Josephine Teo said in Parliament on Friday.
Over S$1.1 billion has already been disbursed in the first two tranches in May and July, she said in response to a question from Member of Parliament Cheng Li Hui. The means-tested scheme is to help self-employed persons of lesser means get through this crisis. So far, 190,000 individuals have received payouts, of which 100,000 qualified automatically and 90,000 qualified after applying.
About two in every three applications have been approved, said Mrs Teo. Applications that were not approved may have been rejected because applicants had been high earners, lived in high-value properties, or own two or more properties along with their spouses. As for the question of whether there will be further relief for the self-employed after the scheme ends, Mrs Teo noted that the government has said that it is studying appropriate ways to support such workers beyond existing schemes.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Kimberly-Clark to buy Indonesian diaper maker Softex for US$1.2b[BENGALURU] Kimberly-Clark Corp said on Thursday it would buy diaper maker Softex Indonesia for US$1.2 billion in cash from a group of shareholders that includes CVC Capital Partners Asia Pacific, as it looks to boost its presence in South-east Asia. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Frasers Centrepoint Trust to raise up to S$1.39b to take over AsiaRetail FundFRASERS Centrepoint Trust (FCT) is proposing to raise up to S$1.39 billion in equity through a private placement and/or a preferential offering, to fund its acquisition of the remaining 63.1 per cent of AsiaRetail Fund (ARF) for S$1.06 billion. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
5 HDB flats changed hands for at least S$1 million in August, as resale prices continue to head northSINGAPORE — In August, five Housing and Development Board (HDB) resale flats transacted for at least $1 million, as prices across the housing segment continued inching higher despite the Covid-19 battered economy, a report released on Thursday (Sept 3) said.
Source: TODAYonline - 🏆 1. / 99 Read more »
Kimberly-Clark to buy Indonesian diaper maker Softex for US$1.2b[BENGALURU] Kimberly-Clark Corp said on Thursday it would buy diaper maker Softex Indonesia for US$1.2 billion in cash from a group of shareholders that includes CVC Capital Partners Asia Pacific, as it looks to boost its presence in South-east Asia. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Campbell Soup forecasts up to 7per cent sales growth on pandemic boostCampbell Soup Co forecast current-quarter sales largely above market estimates after posting better-than-expected quarterly results on Thursday, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Broadcom forecasts current-quarter revenue above estimatesBroadcom Inc forecast current-quarter revenue above Wall Street estimates on Thursday, encouraged by strong demand for its data center chips from ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »