President, political office holders to take 1 month pay cut: DPM Heng

29-Feb-2020 Intellasia | Yahoo News Singapore | 6:52 AM Print This Post

President Halimah Yacob and all political office holders will take one month pay cut in view of the COVID-19 new coronavirus, said deputy prime minister Heng Swee Keat on Friday (28 February).

All Members of Parliament will also take a one month reduction in their allowances.

Meanwhile, senior public officers will take a half-month pay cut.

“The political leadership will do our part to show solidarity with fellow Singaporeans,” said Heng, who is also minister for Finance.

He made the announcements in his wrap-up speech for the Budget debate on Friday afternoon.

Heng said, “In the weeks and months to come, we will need to draw deeply on Singapore’s reserves of resilience, trust and solidarity. This unity of purpose across our whole society is what will see us through these challenging times.

“And if we conduct ourselves well in this crisis, we will replenish those reserves, and strengthen our resilience and unity for another generation,” he added.

In his Budget speech last Tuesday (18 February), Heng announced two special packages worth a total of $5.6 billion to help support businesses and households amid an economic slowdown caused by COVID-19.

The bulk of the money$4 billionwill go towards a Stabilisation and Support Package to help workers stay in their jobs and assist companies with their cash flow.

The remaining $1.6 billion will go to a Care and Support Package to help households, with the less well-off getting more help.

Apart from the packages, $800 million has been set aside to support efforts at combatting the coronavirus.

The government expects an overall budget deficit of $10.9 billion, or 2.1 per cent of GDP, for fiscal 2020. But there will be no draw on past reserves as there is enough fiscal surplus.


Category: Singapore

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