Singapore Doubles Support Package for Households, Businesses

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessSingapore Doubles Support Package for Households, BusinessesSingapore is nearly doubling its support package to help households and businesses defray higher costs caused by a protracted Middle East conflict.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.we{[(zag8q4dof[7hvptp2gg_media_dl_1.png Ministry of Trade and Industry(Bloomberg) — Singapore is nearly doubling its support package to help households and businesses defray higher costs caused by a protracted Middle East conflict.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe government will offer another S$900 million ($700 million) in assistance especially for lower-income Singaporean households as well as small and medium enterprises according to a statement on Wednesday. That adds to an earlier support package unveiled in April, taking its total to nearly S$2 billion.Under the latest package, each Singaporean household will receive S$300 in vouchers in January 2027 that they can use at supermarkets and hawker centers. The government will also offer cash grants for small and medium enterprises and rental support for market stalls and hawker centers.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe additional stimulus comes amid renewed fighting between US and Iran that’s again disrupted shipments of energy and other commodities which Singapore imports from the Middle East. Inflation ticked up in June with food and transport costs among the key drivers. The central bank has warned it could climb further this month and stay elevated through mid-2027.Brent jumped 3.6% on Wednesday to $87.12, extending its gain for July to nearly 20%, though it remains far below the level of $100 reached last Thursday, just before the US and Iran halted attacks on one another.“The situation in the Middle East remains volatile, and we continue to feel the effects here at home,” Prime Minister Lawrence Wong said in a Facebook post. “These measures build on the support we have already provided, and I hope they will give Singaporeans greater confidence as we navigate this period of uncertainty together.”Wong had warned in June that the city-state has yet to feel the full brunt of the economic fallout from the US-Iran war, particularly in power, food and fertilizer costs. Electricity tariffs, for one, are set to increase by a record 17% starting this month.Singapore’s economy has held up better than expected but performance across sectors has been uneven with smaller firms feeling the cost pressures more acutely, Second Finance Minister Jeffrey Siow said.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.