REACH 124 - Additional 5th covid Budget (SK)

18 Aug 2020 (12pm - 8pm)

REACH

[11:48 am, 18/08/2020] +: Dear contributors,

Welcome back! Our chat will be open from 12pm to 8pm today.

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The topic will be posted shortly.

REACH

[12:00 pm, 18/08/2020] +: 📢 Topic 📢

What are your views on the additional support measures in continued support for businesses and workers so as to protect lives and livelihoods?

In yesterday's (17 Aug) ministerial statement by Deputy Prime Minister Heng Swee Keat, he announced a scaled-back version of the Jobs Support Scheme (JSS) which will continue to help workers, and $8 billion more to be spent to save jobs, create new ones and seize new growth opportunities.

The JSS, which covers wages up to August, will now be extended to cover wages paid up to March 2021, and the support is adjusted based on how quickly each sector is expected to recover. 

The CSG, which was introduced in May to help Singaporeans who have been laid off or have suffered significant income loss, will also be extended to December and will be open to both existing recipients as well as new applicants.

👉 https://www.straitstimes.com/politics/dpm-heng-swee-keat-announces-8b-more-in-covid-19-measures-extends-jobs-support-scheme

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[1:29 pm, 18/08/2020] ☸️  Danny 心: 

1. Firstly, this budget is not drawn from the reserves and there are no further plan to draw from the reserve - as this budget is finance by reallocation of funds from elsewhere. This is fortunate, else our reserves will dry up - because it will be unsustainable to keep throwing money.

2. This budget is necessary in order to keep business afloat and jobs secured.

3. However, I feel that just by keeping the business afloat - by subsidising cost and labour cost will not be good enough. There must be attempt to stimulate external demands - so that business can sell their products and services to overseas market and bring back overseas travellers (safely) to spend on our retail, tourist spots, hotels and F&B.

Only then, our business can survive, jobs can be secured - and our Budget to help business and workers - well spent (not merely to keep business afloat by throwing money in).

4. Suggest Government try to make reciprocal arrangement with Countries (that have control the infection well) - to allow overseas travellers to have organised business travel, organised "ring-fence" tours, organised "ring-fence" MICE activities --- to boost our air travel, and air hubs.

5. Airports, airlines, tourism sectors collectively provided insurance for overseas travellers by insuring covid-safe air travel in airlines, check in to hotels, "ring-fence" tours, retail shopping, souvenir and gift shops, F&B and nightspot ------ observing all social distancing measures, wear mask, etc. --- and keep them away from local community.

6. Singapore trade, external market, external is 3 times the size of our GDP. And air hub provides $25 billion of GDP and 190,000 jobs.

We must proactively reach out to reboot our air hub and tourism - in a safe manner through "ring-fence" approach.

By doing so, we do not need to keep drawing into our reserves, or divert funds from elsewhere - to keep proping up our business and workers ---- as this is financially unsustainable. 金山银山， 也会挖空。 (Gold mountain, Silver mountain - will one day dig empty).

7. Creating, stimulating external demands (but do it safely - through "ring-fence" approach) - will be the best approach to re-boost business activities and keep the workers' jobs --- and hopefully, we don't need to come up with more Budgets, throw more money to prop up our business and jobs --- where our businesses can run on their own --- and provide tax revenue to the Government.

Hui Min

[1:32 pm, 18/08/2020] +: Point 3 is a very good point.

REACH

[1:31 pm, 18/08/2020] +: SIA Group passengers can now transit via Singapore from Indonesia and Malaysia

https://www.straitstimes.com/singapore/transport/sia-group-passengers-can-now-transit-via-singapore-from-indonesia-and-malaysia?utm_source=STSmartphone&utm_medium=share&utm_term=2020-08-18+13%3A29%3A47

[1:35 pm, 18/08/2020] ☸️  Danny 心: 

This is a proactive good move by the government to reboot our air hub.

Dan

[1:58 pm, 18/08/2020] +: The extended wages will be up to Mar 2021. It seems like govt seems to have a certain plan( I definitely hope its not east coast plan) for the industry to tide over the crisis. 

We have also seen leaders opening up to the public to embrace new norm instead of treating this whole change as a anomaly during Covid 19.

At the back of our minds, we keep asking. What is the new norm? To dine together with 4 people we know? Keeping visitors to 5 per household? WFH till further notice? Food deliveries? Grocery deliveries? No vacation till end 2021, 2022? What about overseas travel? 

I hope Govt will put these expectations of a new norm down so that everyone will have a sense, or even a time frame so as to let everyone work towards. Even when vaccine is invented, I do not think it will provide immediate relief to the situation, but there should be a projection on apprx when can we resume our activities again. 

 Currently, many people are adopting the "Wait and See" mentality, and they are hoping that one day it returns to pre-covid times. If the leaders already understand that there is a paradigm shift and we will never return to pre-covid economy, then what is the rationale of govt providing the lifeline to support and breed that "Wait and See" mentality? Shouldn't the assistance package be more purposeful in helping people to tide over the change? 

These are the questions I think most Singaporeans have.

[7:01 pm, 18/08/2020] ☸️  Danny 心: 

Channel 8 news now at 7pm - interview with MOT Ong Ye Kung - opening up of business reciprocal air lane for business travellers and in near future - tourists to re-boot our air hub.

[7:08 pm, 18/08/2020] ☸️  Danny 心: 

Minister Ong YK - say 3 prong approach to re-boot our air hub. (For Countries with good control infection)  1. Business traveller Reciprocal Green Lane 2. Open up for foreign tourists to come in 3. talk too fast - cannot catch...... the 3rd approach ----- but in a safe manner.

[7:09 pm, 18/08/2020] ☸️  Danny 心: 

Good that Minister Ong YK - in synch with my proposal.

Rama

[7:21 pm, 18/08/2020] +: He  has settled in here! KBW would be proud

CQ

[7:22 pm, 18/08/2020] +: https://www.channelnewsasia.com/news/singapore/covid-19-ong-ye-kung-singapore-aviation-hub-12976082

this article is from 3 weeks ago, and there are probably changes. so they are trying, but "don't take for granted that it'll be the same".

Rama

[7:23 pm, 18/08/2020] +: Agree

[7:28 pm, 18/08/2020] ☸️  Danny 心: 

MOT Ong YK has been in Ministry of Comm and Transport the moment he join Admin Service.

He is a Deputy Director helping to formulate the Transport White Paper.

The Minister then is Mr Mah Bow Tan and the MOS is Mr Teo Chee Hean.

MOT Ong YK is very experience in transport policy - air, land and sea.