REACH 334 - What are your views on the early implementation of some Budget measures to help Singaporeans cope with rising prices? How have you been preparing for the impact of inflation, and how helpful are these measures for you?

(SK)

06 Apr 2022 (10am - 7pm)

REACH

[9:24 am, 06/04/2022] +REACH: Dear Contributors,

Welcome back! 😊

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Megan 😊

[9:56 am, 06/04/2022] +REACH: 📢 Topic 📢 

More support is on the way for households given the economic impact of the conflict in Ukraine, and some Budget measures will be rolled out earlier, Finance Minister Lawrence Wong told Parliament on 4 Apr (Mon).

💬 What are your views on the early implementation of some Budget measures to help Singaporeans cope with rising prices? How have you been preparing for the impact of inflation, and how helpful are these measures for you?

He noted that the war has contributed to a further spike in inflation around the world and other factors, such as supply chain issues, have contributed to rising prices. “If the situation worsens and more support is needed, the Government stands ready to do so," said Mr Wong.

The key measures to be brought forward are outlined below:

📌 CDC Vouchers to be issued to households by May

As such, the $100 worth of Community Development Council (CDC) vouchers for 2022, announced in this year's Budget, will be given out to every Singaporean household by the middle of May, said Mr Wong. The first tranche of $100 CDC vouchers for all Singaporean households was disbursed last December to help Singaporeans with their daily expenses.

📌 S&CC and Utility Rebates to be disbursed this month

Mr Wong also noted that the Budget had included rebates for service and conservancy charges (S&CC) and utility bills for households. The first tranche of S&CC rebates and U-Save rebates to eligible households will be disbursed this month, and the rest will be disbursed in the coming quarters.

📌 More financial support for lower-income households

All new ComCare short- to medium-term assistance applicants between April and September 2022 will be given at least six months' worth of support from the social service offices, said Mr Wong. Households already on this assistance scheme can also have it extended for at least another three months if they need more help.

Lower-income households will also get more help with their public transport fares via another round of public transport vouchers worth $30 for more than 30,000 ComCare recipients.

📌 Small Business Recovery Grant brought forward to June

To help businesses, the Government will bring forward disbursement of the Small Business Recovery Grant, which provides up to $10,000 for small- to medium-sized enterprises most affected by COVID-19 over the past year.

Most eligible businesses will be able to receive the grant by June, said Mr Wong. Originally, eligible businesses for the grant would have been notified from June 2022.

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[10:12 am, 06/04/2022] +Boon: How long can these govt $ $ handouts be sustainable without further taxes, noting too previous reminders that the society also need to fund a greying Sg population. Can our MPs and agencies be more visible to identify and mobilize attention to address high/growing cost of daily living areas, and where our quality of living is declining due to high costs ?

[10:16 am, 06/04/2022] +Boon: Given the “new norm” how should we define an acceptable new quality of living standard in Sg?

[11:06 am, 06/04/2022] +65 9009 7919: +1

And gov just added new cost like having plastic bags at supermarkets.

[11:45 am, 06/04/2022] +Guillermo Cabeza: These measures don’t help my family but nonetheless I think they are a good idea and also it is sensible to bring them forward. As noted above they will come at a cost we all will have to pay for but so far the govt seems to be doing a good job of balancing the books, improving progressiveness of the tax system, and focusing on staying competitive in a world that has more barriers between countries. My household has adapted to inflation in food and power by looking for sale items, not going out for dinner, and moving to a smaller place.

[11:49 am, 06/04/2022] +Rama: My personal take  - full time MP!

[11:50 am, 06/04/2022] +Rama: You are being practical and adjusting to the situation

[11:50 am, 06/04/2022] +Guillermo Cabeza: Yes but it is not fun!

[11:50 am, 06/04/2022] +Rama: Agree

[0:26 pm, 06/04/2022] +Joseph: 👍

[0:27 pm, 06/04/2022] +Joseph: Just bring own reusable bags if paying 10cts is going to break the bank

[1:36 pm, 06/04/2022] +Boon: +1

[1:37 pm, 06/04/2022] +REACH: Dear contributors,

We want to HEAR MORE from you!

We have had good feedback from this group, and we hope that we can keep the discussion robust and active!

Megan 😊

[1:40 pm, 06/04/2022] +BL: I guess the VAT increase will help pay for it, and VAT is paid by all visitors to the country too.

[1:40 pm, 06/04/2022] ☸️  Danny 心: 

1. This year inflation to be frank is quite unprecedented - spook by triple whammy, notably :-

a. Covid pandemic causing havoc to global supply chain and jacking up prices - as demand outstrip supply

b. Ukraine war - that further disrupt food and material prices, supply chain disruption and sanction.

c. The impending GST increase come 2023 and 2024.

2. Inflation are of 2 prong :-

a. Supply side inflation or Imported inflation - where energy prices, supply disruption, sanctions, war, global climate disruption, business and labour lockdown due to pandemic, freight cost etc.

b. Demand side inflation - where impemding GST increase, labor shortage, material price increase, pandemic disruption to recover lost business etc.

3. Notably, cooked food prices, groceries prices, goods and services, transport prices, electricity bills etc - have increase quite significantly and across-the-board - a heavy burden to every household.

4. To speak honestly, Government budget package does come at a right time - and bringing the budget earlier certainly offer a relief to many household to cushion the impact of the doule prong inflation.

5. This year Budget is quite generous by standard as compared to few previous year.

a. Especially to HDB household - the power utilities rebate, conservancy rebate, GST cash payout, senior payout, medisave top-up, CDC vouchers, edusave topup for students.

b. Even non-HDB household - also are given something notably GST cash payout, senior payout, medisave top-up, CDC vouchers, edusave topup for students.

c. Grants are given to help small business and fund our workforce to secure Singaporean jobs.

6. Many Countries unlike Singapore do not have financial reserves - and we are fortunate that Singapore Government has prudently and competently build up our Sovereign Funds over time - to help Singaporeans in time of needs.

Certainly appreciate what our Government are doing for Singaporeans - in this time of needs.

7. My only concern is food and good services prices once increase - will not come down - and it is not fair to keep relying on Government to help to fund the build-in inflation - as it will impact the fiscal budget and will build up the pressure on the Government to increase tax.

However energy prices is less of the worry as when the disruptions are over, oil prices will drop.

8. The only way for household to withstand the build-in inflation is to ensure workers to continue to bring in higher salaries each year and this will means that business and our Economy must continue to do well.

This will help salaried workers and business to be able to sustain the higher cost-of-living.

9. But non working populations will be greatly impacted by the ever increasing prices, notably :-

a. Retirees

b. Unemployed

c. Lower wage workers

d. Children and students

These few groups of people will still have to rely on Government financial support from the Government Budget to support the build-in inflation.

[1:41 pm, 06/04/2022] +BL: All increases in costs has been managed well by Gov. There are offsets, vouchers and more. We cannot escape inflation and have to make choices, but SG Gov is the most fair minded and  forward looking I am aware of.

[1:58 pm, 06/04/2022] ☸️  Danny 心: 

1. As much as the Government has provided the necessary financial help to cushion the impact of the widespread inflation - individual household will also have to help themselves to stretch our dollars.

2. Eg. be selective in picking up food stalls that have not increase their food prices, or food are prices at a reasonable level.

Same goes for retail stores that keep their goods and services price reasonably.

Keeping competitive market places - is the best bet against rampant increase by stalls, stores and consumer business.

Never always stick to our favortie stalls, stores - even though they increase theri prices unreasonably or exorbitantly. This will help to send a message to such stalls, stores and business.

Notice that some stores have drop their prices back before the price increase and notice that those stalls and stores that did not increase prices or keeping prices reasonable got more customers and longer queues. Those stalls and stores that increase prices exorbitantly seems to have fewer customers and shorter queues.

3. Take more public transport like MRT and buses - instead or taxis and private hires where prices have increases a fair bit.

4. Save energy at home like using more fans than aircons, turn off electrical appliances when not using etc.

[2:29 pm, 06/04/2022] +REACH: Effective follow up, periodic reports on progress needed beyond White Paper on S'pore women: Halimah Yacob

Beyond the policies and programmes proposed in the 10-year road map to nudge Singapore towards gender equality, the country needs to also ensure there are effective follow-up and periodic reports on progress made, said President Halimah Yacob on Wednesday (April 6).

More: https://str.sg/whrN

[3:28 pm, 06/04/2022] +REACH: Dear contributors,

We want to HEAR MORE from you!

We have had good feedback from this group, and we hope that we can keep the discussion robust and active!

Megan 😊

[5:09 pm, 06/04/2022] +~N: Vouchers don't work well.

Rebates are helpful but also encourage usage.

The definition of low income households needs to be re-evaluated or updated.

Is it logical to think that business-minded business, would tell you they are affected by covid-19? how would you know?

[6:18 pm, 06/04/2022] +REACH: Dear Contributors

We’d love to hear more from you on today's topic 😊

We have had good feedback and hope that we can keep the discussion robust and active!

Megan

[6:18 pm, 06/04/2022] ☸️  Danny 心: 

1.  The 4 groups of dependants on Government support can also do "self-help" to prevent over reliance on Government financial support through the yearly fiscal budget.

2. Unemployed group - should get help from the Government such as e2i, Skillfuture, train and placement, job conversion scheme etc to find jobs.

After securing a job, comes the salary - and thus will be less reliance on Government to dish out financial help to tackle the build-in inflation.

3. Low wage workers - Government should work actively with the tripartite alliance - Gov, Business and Union - to convert low-wage sectors jobs into PWM (Progressive Wage Model) - so that low wage workers will be able to fetch higher salary through productivity progression and planned career progression.

4. Students - should also study hard and smart - to be rewarded with bursaries or scholarships - so that this will help to alleviate their parents from financing their school fees and education expenses.

5. Retirees - should be smart to set aside passive income to invest smartly to finance their retirements eg :-

a. Invest in gratuity that pay monthly payout - through CPF Life or commercial insurance gratuity.

b. Invest in safe instrument apparatus such as guaranteed capital and interest income investment.

c. Refrain from investing in risky investment that offer high return or worst lose live savings to scammer.

[6:19 pm, 06/04/2022] +65 9740 5395: Waiting for the gov e-wallet system to be implemented. Looking fwd to it.

[6:28 pm, 06/04/2022] ☸️  Danny 心: 

Our Government are smart to provide Budget financial assistance using various targeted scheme to serve the Economy various sectors, eg :-

1. CDC vouchers are given to each household - so that household can only used it to buy food or good and services in the neighborhood.

Objective :-

a. Help household to cushion increase food price.

b. Help neighborhood food stalls and retail stores - to beef up their business impacted by the pandemic

c. Avoid giving out cash payout - whereby people may use it to buy toto, lotteries, gamble, drink beer etc --- instead of putting it to good use - to buy food for the families and help the neighborhood food stalls and retail stores.

2. Likewise U-save are used to pay for electricity bill and water bill instead of cash payout whereby people spend in other used - instead of paying their utilities bill.

3. Similarly, SCC conservancy are used to pay town council fees - and not used for other purpose.

4. Medisave payout - are for people medical fees.

5. Edusave payout - is for student education purpose.

6. Transport voucher - are meant for people to pay their MRT or bus.

7. Only GST cash payout - is used by people to save or spend in things they like.

So the Government budget scheme is "targeted" - and money are used wisely target the various needs of the people - a wise budget scheme to prevent abuse.

[6:28 pm, 06/04/2022] +Joseph: Why is it “Gender Equality” and not simply EQUALITY? 

Does it not take something away from the person when we have a “reserved” criteria? For example, adding race and/or gender as a criteria for our Presidential candidate instead of simply basing it on merit/capability?

Do we really want to emulate the ridiculous “woke” culture from the West?

[6:45 pm, 06/04/2022] +REACH: Dear Contributors,

⏰ We will be closing the chat in 15 minutes ⏰

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan

[7:00 pm, 06/04/2022] +REACH: Dear Contributors,

We will be closing the chat for today.

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan 😊

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