This second supplementary budget, announced less than a fortnight after the massive $48.4 billion “shock and awe” budget on March 26, was deemed necessary because of how rapidly the Covid-19 outbreak was evolving.
SINGAPORE (Apr 6): Market watchers and business associations have given their unanimous thumbs up to the $5.1 billion Solidarity Budget unveiled by deputy prime minister Heng Swee Keat earlier on April 6, just hours before the month-long ‘circuit breaker’ hunkering down period takes effect.
Roland Ng, president of the Singapore Chinese Chamber of Commerce and Industry, acknowledges that it will be a “painful” and “disruptive” month ahead for businesses. “I urge companies to adjust and adapt, and comply with these circuit breaker measures, with a view that we hope these measures can be eased or removed after one month,” he says.
