TNC Business Strategy Research
Singapore 2020 STABILISATION & SUPPORT PACKAGE - HELPING SECTORS HIT BY COVID-19
To support hawkers, NEA will increase rental waiver from 1 month to 3 months to stall holders of NEA-managed hawker centres and markets, with a minimum waiver of $200.
According to the latest resilience budget under the enhanced Job Support Scheme, the government will provide support for food & beverages firms, with a total of 50% wage offset, capped at a monthly wage of $4,600.
B. COMMERCIAL TENANTS
To help alleviate costs for businesses located in other Government-owned / managed facilities, Government agencies such as HDB, PA, SLA, NParks, JTC, URA, STB, and SDC will provide half a month worth of rental waivers to eligible commercial tenants/lessees who are on leases not exceeding three years, and do not pay Property Tax.
Following to the latest Resilience Budget, the Commercial tenants who qualified for the half a month’s worth of rental waiver announced in Budget 2020 will now get two months’ worth of rental waiver in total (i.e. one and a half months more). Eligible tenants/lessees may include those providing commercial accommodation, retail, F&B, recreation, entertainment, healthcare, and other services.
In total, these rental waivers will cost $334 million.
C. POINT-TO-POINT SECTOR
Point-to-point support package will be provided for taxi and private hire car drivers.
Ministry of Transport had earlier announced a $77 million support package to aid the point-to-point transport services sector, co-funded by the Government and industry players.
Many taxi and private-hire car operators have come out strongly to support the initiative by matching the Government's contribution.
The scheme, which kicked off on 14 February 2020, allows some 40,000 drivers to receive a $20 relief each day for three months.
In addition as according to the enhanced Job Support Scheme, the government will also provide the followings:-
• Special Relief Fund payments of $300 per vehicle per month for taxi hirers and Private Hire Car (PHC) drivers, till end-Sep 2020
• Additional support for taxi and PHC operators
• 1-year road tax rebate and 6-month waiver of parking charges at government-managed parking facilities for private bus owners, to defray operating cost