Covid-19: In 4th round of measures, DPM Heng to give May 26 ministerial statement on Govt plans to help people, businesses

SINGAPORE — Deputy Prime Minister Heng Swee Keat will deliver a ministerial statement in Parliament next Tuesday (May 26) on the Government’s plans to help businesses and people tackle the challenges of the Covid-19 pandemic. It is the fourth such statement this year.

In a media statement on Tuesday, the Ministry of Finance (MOF) said that the ministerial statement will be delivered in Parliament at 3.30pm on May 26. The statement was not described in the media release as a “Budget”.

The regular annual Budget, known as the Unity Budget, on Feb 18 was described in that way. The most recent two rounds of spending and other Covid-19 related measures were not described that way in the initial media statements, though they were eventually called “Budgets”.

The media release said the statement would outline the Government’s “plans to help businesses and individuals adapt and build resilience, in our continuing fight against the Covid-19 pandemic”.

National Development Minister Lawrence Wong said during Tuesday’s multi-ministerial task force press conference, however, that Mr Heng’s announcement will be that of a “fourth Budget”.

Asked about what kind of support Singaporeans can expect from Mr Heng's statement, Mr Wong said that the companies that remained closed past “Phase One” — the first of three phases of gradual resumption of social and economic activities starting June 2 — will be among the beneficiaries.

“You have already seen the key items of the measures that we have extended support to for businesses during the circuit breaker period,” he said. “Those items will remain for these businesses that are unable to open in Phase One of the reopening.”

Mr Heng said in a Facebook post on Tuesday evening that he understands the “disappointment of some businesses and workers who will not be able to resume activities immediately when the circuit breaker ends”.

“For these workers and businesses, the Government will help tide you over this period of continued closure,” he said, adding that the details will be announced during his statement next Tuesday.

The full ministerial statement will be published on the Singapore Budget website after the speech by Mr Heng, who is also Finance Minister.

It will be broadcast live on television and radio, MOF added.

Mr Heng’s three previous ministerial statements on the unfolding support measures for businesses and people here were crafted in the face of the rapidly evolving Covid-19 pandemic, and its impact on the health of Singaporeans and the economy of the city-state.

The first was the Unity Budget on Feb 18, which was the regular annual Budget. Then came the Resilience Budget on March 26 and the Solidarity Budget on April 6, with each announcing fresh measures and spending.

The Government is intending to draw on the nation’s reserves to a significant extent, with the President’s requisite approval, to fund the various measures.