Specifically, the Stabilisation and Support Package is meant to benefit the tourism, aviation, food and beverage services, retail and point-to-point transportation companies and workers. These sectors are deemed as the most affected amid the coronavirus outbreak in Singapore, especially after Singapore has placed a travel ban on China visitors.
SINGAPORE (Feb 21): Going simply by dollars and cents, Budget 2020’s centrepiece is the huge $6.4 billion package to help tackle the economic fallout following the coronavirus outbreak and lingering economic weakness from the previous year.
Of the $6.4 billion, $4 billion is allocated to a Stabilisation and Support Package to give targeted help to sectors and workers so that they can stay viable as the economy powers through the coronavirus outbreak. Another $1.6 billion is allocated to households to defray their costs of living and $800 million is dedicated to the frontline staff in the healthcare industry.
