The fund will not be drawn from Singapore’s past reserves. It will be funded by a reallocation of spending, says Wong, who will take a Supplementary Supply Bill at the next parliamentary sitting in July to effect the reallocation.
The Singapore government will be distributing a further $800 million to aid firms and individuals through a broadened support package during Phase 2 (Heightened Alert), announced Minister for Finance Lawrence Wong at a virtual doorstop interview on May 28.
Phase 2 (Heightened Alert) takes place from May 16 to June 13, where gatherings are limited to two, and dining in is not allowed at food and beverage (F&B) outlets.
