Apart from that, employers will receive a levy rebate payout of $750 for each foreign worker in employment.
With the “circuit breaker” measures extended by four weeks, Deputy Prime Minister Heng Swee Keat announced on Tuesday (21 April) that the 75% wage subsidy for companies across all sectors will also be extended until May to help workers and businesses.
Aimed at stemming the spread of Covid-19, the circuit breaker began on 7 April and was set to end on 4 May.
“I’ll extend the 75% wage subsidy under the Jobs Support Scheme to all sectors, for the month of May. I urge our business leaders do your best to retain your workers and make full use of the various grants for training,” said Heng at a press conference held by the COVID-19 multi-ministry task force.
Aside from the extension, the scheme will also be enhanced to include certain groups of shareholder-directors, reported CNA.
“These are employees of a company who are also shareholders and directors, and will miss out on both the Jobs Support Scheme, and the Self-Employed Income Relief Scheme,” explained Heng.
The Jobs Support Scheme sees the government co-funding the first $4,600 of gross monthly wages paid to every local employee. First unveiled in February’s Budget, the scheme was further enhanced under the Resilience and Solidarity budgets.
Most firms would originally receive 25% of wage subsidies. Those in the food services sector would get 50%, while those in the tourism and aviation sectors receive 75%. Earlier in the month, Heng said firms across all sectors would benefit from the 75% subsidy.
A $4,600 monthly salary is the median wage within the city-state.
Meanwhile, the monthly Foreign Worker Levy, which was already waived in April, will again be waived in May. Apart from that, employers will receive a levy rebate payout of $750 for each foreign worker in employment.
Heng revealed that the schemes’ extension and enhancements will cost $3.8 billion.
“We understand that the enhanced measures and circuit breaker extension will have a significant impact,” he said.
He urged people to keep up their spirit of solidarity, unity and resilience.
“In the months of April and May, this will be a test of our resilience, as individuals and as a society. We cannot be certain when the crisis will end, but what is certain is that we are here for you,” said Heng.
“As long as we stand with one another, we will emerge from this crisis stronger.”
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org