Households will receive more help through vouchers and rebates to cope with rising prices due to global inflation, said Finance Minister Lawrence Wong in his Budget speech on Friday (Feb 18).
A $560 million Household Support Package will help Singaporean families with their cost-of-living pressures, providing support for daily essentials, including utilities rebates, top-ups for children’s education, and vouchers for use at heartland shops.
Mr Wong said that while the overall economic outlook is positive, some sectors are still struggling.
“I recognise the immediate concerns of businesses and households and will provide significant additional support in this Budget to help them tide over the current period of higher prices,” he said.
Under the support package, all eligible HDB households will get double their regular GST Voucher – U-Save Rebates in April, July and October this year.
Combined with the additional GST Voucher – U-Save rebate that will be given next January under the Assurance Package, this means that eligible HDB households will receive double their regular GSTV – U-Save rebates this year.
For example, a family living in a three-room HDB flat can expect to receive an additional $85 in these three months, on top of their usual U-Save rebate and the $85 rebate from the Assurance Package. This will bring their total GSTV – U-Save rebate for FY2022 to $680, up from $425 previously.
About 950,000 Singaporean households will benefit from the additional rebates.
Children below 21 will also get a top-up of $200 in their Child Development Account, Edusave Account or Post-Secondary Education Account. This is on top of the annual Edusave top-up they already receive.
About 790,000 children will receive the top-up, which will be credited to their Edusave or Post-Secondary Education Accounts in May, or to their Child Development Account from September.
All Singaporean households will also get another $100 in Community Development Council (CDC) Vouchers this year, which they can use at participating heartland shops and hawker centres.
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