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Enhancements to Jobs Support Scheme (JSS)

July 6, 2021

On 5 July 2021, Minister for Finance Mr Lawrence Wong delivered a ministerial statement outlining support measures amid the easing of some COVID-19 restrictions.

Key update to take note:

  • Support Measures for Phase 2 and Phase 3 (Heightened Alert). The calibrated approach during these two phases focused on high-risk activities in indoor settings.
  • The additional support measures for Phase 2 and Phase 3 (Heightened Alert) are expected to cost $1.2 billion. This will be funded through the reallocation of monies, hence there will not be a need to draw on our Past Reserves.
  • Support for SMEs, The Government has designed the COVID-19 support packages to provide more help for SMEs.
  • Barring unforeseen circumstances amidst the uncertain global economic outlook, the Government expects a GDP growth of at least 4% to 6% this year.
  • Budget position remains expansionary for FY2021. The Government expects an overall deficit of $11 billion or 2.2% of GDP, similar to what was previously announced at Budget 2021.