The government is expected to reduce the support measures in the next budget. This is a reasonable step, as the government cannot continue to spend large sums of money to support the loss of income caused by the economic restrictions to fight the pandemic.
However, it does not get rid of the reality that many people have suffered a large drop of income and it will take a long time to recover. The reduction of the support measures will cause financial hardship to many people.
I suggest that the government takes the following steps to address this situation:
* Allow people who have suffered a loss of income to make a withdrawal from their CPF savings of up to $1,000 a month. As this is a withdrawal of their savings, it will not cause a financial loss to the government.
* For people who do not have sufficient CPF savings for withdrawals, the government can allow them to take out the money on a loan provided by the government. The loan has to be repaid from future earnings.
* Reduce the restrictions and allow people to resume their livelihood. Although there is a risk of the spread of infection, the risk is probably low in Singapore due to our warm climate.
I hope that the government ministers will realize the difficult situation faced by many ordinary people and consider my suggestions.
1 comment:
To be fair to the people of the republic, interviews should be picked randomly from at least
50 people who will be a good representation of what they felt about the budget. Afterall it
is the taxpayer's money not anybody's own money. We should not recycle hand-picked people
who has self-interest, benefitted from the 100 million(oops billions) and who had to say the
right thing because they have a job to keep. At least once, can we keep it unpolitical?
February 18, 2021 9:04 AM
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