Singapore offers baby bonus

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Singapore offers baby bonus
The incentive is aimed to help future parents Credit - Twitter

SINGAPORE offers baby bonus and a series of measures to support its residents in recovering from the COVID-19 pandemic.

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Deputy prime minister Heng Swee Keat presented the proposals in the country’s parliament on Monday, October 5, as part of an overview of the government’s strategy to emerge stronger from the pandemic, and noted that their “path to recovery will not be easy”.

He said the government needs to handle the economic and social consequences of the virus, with many businesses, workers, and households hit hard by the disruption and uncertainty.

“We have received feedback that COVID-19 has caused some aspiring parents to postpone their parenthood plans,” Keat said.


“This is fully understandable, especially when they face uncertainty with their income. Hence, to help with expenses during this period, we will introduce a one-off additional support for newborns.

He announced that this support will be on top of the existing “Baby Bonus Cash Gift”, which provides eligible parents up to (Singapore Dollar) $10,000 (£5,700) in benefits.


Keat went on to explain he has laid out the approach to support families and households in dealing with the pandemic in the next six months, and “to have more babies.”

“We will adjust our support if necessary, in response to changes on the medical front and global economic developments. I hope that businesses, workers and households will make good use of these resources in the months ahead,” said the deputy prime minister.

Keat highlighted that the household support will continue to flow in the coming months. He said that after an extremely difficult start to the year, the virus situation in Singapore has “stabilised”, and large parts of the economy have “resumed operations”.

 




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