https://padlet.com/planetlocales/29mjp982q67uqp3r SS Chapter 9 en-us 2021-03-25 09:54:19 UTC 2021-03-27 02:42:20 UTC hello@padlet.com planetlocales https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1352005865 https://www.gov.sg/article/budget-2021-covid-19-resilience-package]]> 2021-03-25 09:54:19 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1352005865 planetlocales https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1352005875 https://www.singaporebudget.gov.sg/budget_2020/budget-measures/budget-booklet/budgets-of-2020]]> 2021-03-25 09:54:19 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1352005875 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355798952 temporary relief fund for workers in need of immediate assistance.
A one-off $500 payment to lower to middle income Singaporeans and PR facing job or income loss.
- helps them to be able to pay off their financial bills when they do not have enough money to do so on their own.  ]]> 2021-03-26 02:42:56 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355798952 annatoh236 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355800856 -Government-provided vaccinations
-government provides citizens with vaccinations to protect them from the virus
-Important especially for the elderly, who are more at risk compared to everyone else, as well as front line workers who need to be kept safe from the virus

What will be the possible economic outcome?
The sooner  the population can be vaccinated and protected for COVID 19, the earlier the country can open up its economy and life to return to normalcy, thus helping business to resume.

It certainly also helps individuals indirectly as life returns to normalcy.]]> 2021-03-26 02:43:45 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355800856 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355803713 ‘Jobs Support Scheme’
Government subsidies 10-30% of the wages for local workers.

The government provided wage support for more than 150000 companies. Since the pandemic reduced business in general, companies would have more difficulty paying their workers. By offering wage support and helping companies pay their workers, companies would struggle less to pay their workers and less workers would get retrenched. ]]> 2021-03-26 02:44:54 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355803713 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355806592 Rental relief for govt tenants.
It will reduce the amount of rent businesses have to pay for their shop, helping them cope with their business, since they are earning lesser due to covid, so they may not be able to earn much after paying the rent if it was not reduced.

Helps these companies reduce their operational costs, thus helping to sustain their business.]]> 2021-03-26 02:46:04 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355806592 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355807677 The COVID 19 Recovery Grant is extended in 2021
Employees who have lost their jobs or are placed on involuntary no pay leave for at least 3 consecutive months, will be given up to $700 per month for 3 months.
the government took out a grant which provides temporary financial support for workers who are presently experiencing involuntary job loss, or involuntary no-pay leave due to the economic impact of COVID-19. This is to support the financial needs of those unemployed, retrenched or under no-pay leave as they have a loss of income - insufficient to support family, car loan etc.  housing loan etc. (in such bad times, taking care of housing loan is more critical than a car loan which may not be a necessity item).]]> 2021-03-26 02:46:33 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355807677 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355810075 In Budget 2021, the covid 19 resilience package was introduced for the safeguarding of public health.For example, to protect the health of Singaporeans, $4.8 billion will be allocated towards public health such as having vaccination for covid-19 for 16 years old and above ,preventing them from getting infected.

Such focus on healthcare is more relevant under Chapter 7. Chapter 9 is about economic impact of globalisation.]]> 2021-03-26 02:47:35 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355810075 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355810084 One way is targeted support for sectors that are hit harder due to Covid-19. Up to $870 million was provided to Aviation sector to help maintain critical functions, thus the companies can still operate, and support its workers with this fund.

and Aviation is a important industry to Singapore as a transport hub.]]> 2021-03-26 02:47:35 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355810084 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355810440 Jobs support scheme (JSS)
-wage support for more than 150000 firms, employing over 2 million local workers to support companies to pay their workers, preventing companies from losing manpower as workers do not need to be retrenched, and thus economy is not affected.

This JSS can also help the workers to keep their jobs.]]> 2021-03-26 02:47:45 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355810440 annatoh236 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355811126 -Covid-19 Recovery Grant
-provides temporary financial support for workers who are experiencing unemployment or no-pay leave due to covid-19
-citizens will be able to pay comfortably for their basic needs and can continue to support the economy ]]> 2021-03-26 02:48:03 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355811126 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355813701 Care and support package to help households, total of $400 grocery voucher given out in 2020 and 2021 for Singaporeans above 21 to help them get daily necessities]]> 2021-03-26 02:49:13 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355813701 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355816699  Arts and culture resilience package shares $45 million with sports sector in order to support capability development and sector transformation

You have not explained how this would help the companies in the Arts and Culture sector.
E.g. support arts and culture groups and practitioners, cultural institutions and cultural festival organisers to go digital with their arts and culture content.
E.g. rental waivers to defray cost.

Can also be applied to help individuals in the gig economy who lost opportunities to perform during this period of time.]]> 2021-03-26 02:50:32 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355816699 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355820509 Singapore government can help individuals to cope with the crisis by continuing Education and Training (CET) by the Ministry of Manpower (MOM).

CET was a measure taken during 2008 financial crisis.

]]> 2021-03-26 02:52:19 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355820509 https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355826143 -Job support scheme
-Wage support not more than 150,000 firms
-employed over 2 million local workers
Effect
Although there is an economic downturn, the (JSS) has allowed local companies to keep their workers by helping companies to pay for their worker's wages

Therefore when workers have their income supplement, the workers will be willing not spend it. When people spend their money, it will allow the economy to rebound faster therefore it will make an faster recover of the Singapore's economy   they can at least have the ability to keep up with their financial commitment such as housing and car loans and not fall into defaults.]]> 2021-03-26 02:54:57 UTC https://padlet.com/planetlocales/29mjp982q67uqp3r/wish/1355826143