Singapore appointed 2 idiots to lead the task force.

[jw5]

from yahoo.com:

Singapore can deploy more fiscal, monetary policy measures if needed - finmin​

SINGAPORE, March 22 (Reuters) - Singapore's finance minister said on Tuesday the city-state's economy should continue to grow this year, but authorities were ready to deploy more fiscal and monetary policy measures if a worsening Russia-Ukraine crisis impacted growth and inflation.

The government had projected gross domestic product to expand 3-5% in 2022.

The forecast was provided before Russia's invasion of Ukraine. Moscow calls its actions there a "special operation".


"Our baseline assumption and projection is still that we are still able to continue growing as an economy this year," Lawrence Wong told a business forum.

"But you cannot rule out more adverse situations or scenarios where potentially we enter a recession, or we start to experience stagflation-like conditions," he said.

"If things start to get worse in Ukraine and we see a huge impact on our economy or on inflation, we will certainly not hesitate to do more whether through fiscal or monetary policy to make sure that we keep the economy steady or stabilise prices..." Over the past two years, the government has committed close to S$100 billion ($73.61 billion) to cushion its people, businesses and the economy from the impact of the pandemic.

The Monetary Authority of Singapore tightened its policy settings in January due to increased inflation pressures across the region. Many economists expect it to tighten policy again at its April review.

Wong said the government was closely monitoring the impact of the crisis on the economy, but households, workers and firms will start to see the benefits from measures announced in the February budget over the coming months.

He expects a manpower shortage in Singapore to start easing as the country progressively reopens.

"I'm quite sure we will soon be able to open up for freer international travel and when that happens, it will be much easier for firms to bring in workers," he said. ($1 = 1.3585 Singapore dollars) (Reporting by Aradhana Aravindan; Editing by Martin Petty)

 

[jw5]

from yahoo.com:

Deployment of Safe Distancing Ambassadors to eventually be scaled back: Lawrence Wong​

SINGAPORE — The deployment of Safe Distancing Ambassadors (SDAs) to monitor mask-wearing and social distancing measures will eventually be scaled back, following the easing of COVID-19 measures announced on Thursday (24 March).

Minister of Finance Lawrence Wong, who is also the co-chair of the multi-ministry taskforce for COVID-19 (MTF), said that even with the easing of restrictions, there are still many requirements for the public to comply with. Therefore the SDAs as well as enforcement officers will still be required to monitor the situation.

"However, in this new regime, we want to also encourage everyone to take on more social and personal responsibility, and rely less on external forces or enforcement checks," he said, in response to a question from Yahoo News Singapore.

"If more people can do this and uphold that sort of personal responsibility, then indeed we will scale back our SDAs and allow these people to be redeployed in other sectors for which there are huge demands for manpower."

Minister of Health Ong Ye Kung added that employment opportunities may soon be available for SDAs to take up operational jobs in his ministry, such as doing vaccinations, contact-tracings or call-centre work.

RRT for all sectors to be stopped from Tuesday
From next Tuesday (29 March), rostered routine testing (RRT) will be stopped for all sectors, as Singapore passes the peak of the Omicron wave. MOH said in a media release that the high vaccination and booster coverage, and the sectors' compliance to their specific safe management measures are sufficient to protect those within the sectors.

Meanwhile, the Ministry of Manpower announced that, from 1 April, vaccinated migrant workers will no longer need to apply for exit passes to visit recreation centres. For their community visits, the quota will remain at 15,000 for weekdays and 30,000 for weekends and public holidays, but there will no longer be a need to do pre-visit ART.

The Ministry of Education and Early Childhood Development Agency will offer selected groups of teachers and students the flexibility to remove their masks during language and literacy lessons, in order to better support children’s learning and development needs.

These groups include children with hearing loss, speech articulation issues, or learning difficulties such as dyslexia.

Vaccination centres to progressively close from end-April
MOH will progressively step down the number of vaccination centres (VC) from end-April. Marine Parade Community Club will cease operations on 30 April, while Woodlands CC and Nee Soon East CC’s last day of operation will be on 31 May.

From May to July, the ministry plans to reduce the number of paediatric VCs from 12 to 2, as most of the five- to 11-year-olds would have completed their primary series vaccinations. MOH will progressively onboard selected Public Health Preparedness Clinics and polyclinics to provide paediatric vaccine doses to children who have yet to receive their primary series vaccination.

Meanwhile, the ministry will expand the eligible age band for COVID patients to recover at home (Protocol 2) regardless of vaccination status. From Friday, patients aged 12 months to two years old will also be managed under this Protocol 2 by default, either at home or under the care of their primary-care physicians or paediatricians.

MOH also agrees with the Expert Committee on COVID-19 Vaccination that a second booster dose is to be recommended to those who are medically susceptible to severe COVID-19. This will help ensure that these at-risk groups remain highly protected as normal activities are being resumed.

The following groups are strongly encouraged to receive a second booster dose around five months after receiving their first booster dose:

All persons aged 80 years and above;

Persons living in aged care facilities, such as nursing homes; and

Medically vulnerable persons who are at increased risk of severe disease due to significant medical risk factors.

The recommendation for persons belonging to these at-risk groups to receive a second booster dose will not affect their vaccination status. More details on how at-risk groups can receive their second booster dose will be announced later.

 

[jw5]

Lawrence thanks a group of people.

Lawrence Wong​

3 hrs ·
Budget season has already come to a close, I would like to take this opportunity to thank a special group of people without which #SGBudget2022 would not be possible - our Ministry of Finance (Singapore) team.
Thank you for your hard work and dedication in serving our nation, and for being part of charting our course for the future.

 

[jw5]

Lawrence participated in the Lianhe Zaobao 联合早报 2022 Budget Business Forum for the first time.

Lawrence Wong​

3 hrs ·
Participated in the Lianhe Zaobao 联合早报 2022 Budget Business Forum for the first time — together with Low Yen Ling and business leaders.
Glad to continue hearing more views from our businesses on a wide range of topics, including support for our SMEs, the need to transform to thrive in the future economy, manpower concerns, and more.
I look forward to closer cooperation — to help both our businesses and workers to grow and thrive, on our journey towards a fairer, more inclusive, and greener society.
#SGBudget2022
(

: Lianhe Zaobao)
+++
今天的论坛让我有机会和大家进行更深一层的交流。有了稳健的财政，我们才能加强各种援助项目，继续帮助国人和企业。我希望政府和企业能更加紧密地合作，携手开拓前进路，让新加坡的未来更加美好。

 

[jw5]

Lawrence thanks Lianhe Zaobao.

Lawrence Wong​

4 hrs ·

Thank you, Lianhe Zaobao 联合早报 for this special token on #SGBudget2022 coverage.

 

[jw5]

Lawrence Wong​

22 hrs ·

With Low Yen Ling and fellow panellist.

From left: Mr Suan Teck Kin, Chief Economist, UOB; Mr Lim Ming Yan, Chairman, Singapore Business Federation; Lee Huay Leng, Editor-in-Chief, Lianhe Zaobao, Mr Kho Choon Keng, President, Singapore Chinese Chamber of Commerce & Industry; and Mr Kurt Wee, President, Association of Small & Medium Enterprises

 

[jw5]

Lawrence poses with folks from Lianhe Zaobao.

 

[jw5]

Lawrence promotes the JSS.

Lawrence Wong​

8 hrs ·
Our Jobs Support Scheme has helped our businesses to safeguard livelihoods during the Covid-19 pandemic, by providing wage support for employers.
From 31 March, over 19,500 employers will receive more than $145 million in the final tranche of the JSS payout, supporting nearly 300,000 local workers.
It has helped companies like Old Chang Kee to retain its workers and even provide them with training on digitalisation.
With the March payout, we would have disbursed more than $28.1 billion of JSS support since February 2020. JSS had also saved 165,000 local jobs from March to December 2020.

 

[jw5]

Lawrence wants you to exercise personal and social responsibility,

Lawrence Wong​

Yesterday at 18:42 · Instagram ·
Today is the first day of our SMM relaxations! I’m sure many are looking forward to get together and dine in larger groups with your family and friends.
That said, do continue to exercise personal and social responsibility, especially if you are unwell or in crowded areas. Let’s continue to keep faith with one another and see through this pandemic as one united people

(

: ST)

 

[jw5]

Lawrence spoke at a dinner.

Lawrence Wong​

13 hrs · Instagram ·
How the world has changed in the last two years! One of my last few preCovid events in end-2019 was to speak at a dinner with the board of Standard Chartered when they had their overseas meeting here.
Last week, the bank held their first overseas board meeting after the pandemic struck. I am glad they chose Singapore again for their meeting, and I was able to renew our ties and speak with them again at the dinner engagement.
Standard Chartered has been an excellent partner for Singapore for over 160 years and we look forward to working together for a brighter future and a better world. We also look forward to welcoming more international businesses and travellers into Singapore before too long!

 

[jw5]

Lawrence so happy.

 

[jw5]

Lawrence is concerned about cost of living.

Lawrence Wong​

3 hrs ·
I understand that many of you are concerned about the cost of living. I’ve set aside significant additional support in this year’s Budget to help Singaporeans, with more going to the lower- and middle-income families.
In particular, we will provide eligible households with double their regular U-Save rebates this financial year, which means they can get up to $760. They will also get up to 3.5 months of rebates on their service & conservancy charges (S&CC). These rebates will be disbursed quarterly, with the first payout coming in April.
Mdm Sim Mui Eng’s family is one of the 950,000 households who will be receiving the U-Save rebates and S&CC rebates this year. I hope families like Mdm Sim's find the additional support useful. We will continue to do everything we can to help Singaporeans cope with the impact of higher prices.

 

[jw5]

Lawrence encourages the youth of today.

Lawrence Wong​

8 hrs ·
Many call our youths of today the Covid-19 generation.
You've indeed faced many challenges over the past two years. But you've also learnt to overcome them, from adjusting to different forms of learning, to new ways to keep in touch with family and friends.
And emerging from the pandemic, you can look forward to a more promising future — new areas of growth like the green economy, a stronger social compact, and a more inclusive Singapore.
There will always be a place for you in this future, filled with many exciting opportunities. So let's look ahead with confidence, and work together to make this happen.
(Thanks Nanyang Technological University, Singapore for inviting me to speak with your students yesterday evening!)

 

[jw5]

Lawrence in a dialogue with students.

 

[jw5]

Lawrence poses with many masked people.

 

[jw5]

Lawrence wishes all his Muslim friends a blessed Ramadan and Selamat Berpuasa.

Lawrence Wong updated his cover photo.​

3 hrs ·
Tonight marks the start of a holy month of Ramadan.
Two bazaars are also back this year - at Geylang Serai and Kampong Glam. You can take some time to jalan-jalan and immerse in the Hari Raya atmosphere with your friends and family. Crowds are expected, so do remember to stay vigilant as we celebrate safely.
Wishing all our Muslim friends a blessed Ramadan and Selamat Berpuasa!

 

[jw5]

from straitstimes.com:

More time needed to assess if extra support for firms, people is needed: Lawrence Wong​

SINGAPORE - Evaluations are ongoing to see if support to businesses and individuals to help defray cost pressures can be rolled out earlier than planned, and more time is needed to assess if additional help is required, Finance Minister Lawrence Wong said on Monday (March 28).

He noted how there have been calls for increased support for small and medium-sized enterprises (SMEs), given the rising pressures they face amid the uncertain global environment.

"Some of these new measures have only been announced recently and funds have yet to be given out. Yet some people are already saying that there is not enough support," Mr Wong said.

The minister also noted that the Government continues to monitor the Ukraine crisis and its impact on the economy and prices closely, assuring that should the situation worsen, it will definitely provide further support to Singaporeans and businesses.

He was speaking at the Lianhe Zaobao Singapore Budget 2022 Business Forum, which was held at the Capitol Theatre in Stamford Road.

Other panellists at the forum were Ms Low Yen Ling, Minister of State for Trade and Industry, as well as Culture, Community and Youth; Singapore Chinese Chamber of Commerce and Industry president Kho Choon Keng; Singapore Business Federation chairman Lim Ming Yan; Association of Small and Medium Enterprises (ASME) president Kurt Wee and UOB research head Suan Teck Kin.

The discussion was conducted in Mandarin and moderated by SPH Media Trust's Chinese Media Group editor-in-chief Lee Huay Leng.


Mr Wong said: "I understand that many SMEs wish that the Government can provide more help. I want to be able to provide SMEs with more help as well, but I hope that everyone understands that if the Government is to give greater support, it will also need to increase its revenue.

"In that case, why don't we discuss who is willing to pay higher taxes?" he added, stressing the need to strike a balance.

The minister explained how smaller enterprises tend to benefit more from support schemes announced in the annual budgets, with some 80 per cent of measures for businesses this year intended to help SMEs in their transformation efforts, in ways such as digitalisation and training support.

During the discussion, he urged firms to embrace transformation and tap government schemes and other support avenues, such as SME Centres, in their journey.

Other topics brought up at the forum included firms' manpower concerns, such as foreign labour constraints and the shortage of skilled tech talent.

In particular, ASME's Mr Wee suggested changes to allow SMEs to employ their first two S Pass holders under a quota of up to 15 per cent of the total workforce - which was the guideline for hiring S Pass workers in the service sector before changes that took effect from Jan 1, 2020.

He explained that in the past, SMEs could hire a foreigner under an S Pass for every six local employees, but the current guidelines capping the number of S Pass holders at 10 per cent of the firm's total workforce mean that they would need to hire nine locals to be eligible to hire one S Pass worker.

"How would an SME be able to hire three more locals?" Mr Wee asked, pointing out that the size and revenue of a smaller enterprise make it difficult for it to deal with such labour policy constraints.

Replying, Mr Wong underscored the importance of driving transformation and to reduce firms' reliance on foreign labour, adding that if S Pass quotas are relaxed too much, this could affect employment opportunities and salaries of local graduates in the relevant sectors.

Government agencies will continue to address the challenges that SMEs face in attracting and retaining talent, and to tackle skills mismatch between employers and job seekers, he added.

UOB's Mr Suan highlighted how Singapore's taxation system was enhanced in the recent Budget to become more progressive and how it is intended to help strengthen the Republic's social compact. But he also raised a concern about the messaging of the moves taken.

He asked if Singapore's actions would send the wrong signals to foreign investors and make the country seem less friendly to foreign corporations, with changes such as higher personal income tax rates for top earners.

Mr Wong acknowledged that Singapore's perceived friendliness to external parties and its resulting competitiveness were a consideration when making tax changes in the Budget, and the ministry sought to ensure that the changes overall would be fair and equitable for society.

Too much of an increase in personal income tax rates would definitely hurt Singapore's competitiveness, he said, noting how some wealthy individuals may move elsewhere should tax rates be increased.

"I think foreign investors need not worry," he said, adding that Singapore's competitiveness should not, and cannot, depend solely on its tax rates.

The Republic has other strengths that appeal to investors, such as its stable governance and robust regulatory environment, Mr Wong added.

 

[jw5]

Lawrence is glad to see many people exercising personal responsibility.

Lawrence Wong​

13 hrs ·
As we reopen and ease some safe management measures, I’m glad to see many continuing to exercise personal responsibility.
We hope everyone will make full use of this time to reconnect with your families and loved ones while staying safe.
With the easing of cross-border travel, businesses will also benefit, and many of you are making travel plans!

We’ve taken a long journey to get to where we are today. With the easing, we may also see case numbers rise. My MTF co-chairs and I are very closely monitoring the situation, with special attention to our healthcare system.
(

from our interview with SPH reporters Ong Ye Kung)

 

[jw5]

from straitstimes.com:

Easing of rules will see more Covid-19 cases, but healthcare system can bear burden, say task force ministers​

SINGAPORE - Singapore will see an uptick in Covid-19 cases now that restrictions have been eased, but its healthcare system is expected to be able to shoulder the burden.

At the same time, people should continue to exercise social responsibility, given how unpredictable the virus is, stressed two of the ministers leading the country's pandemic response.

"If cases were to pick up again, our healthcare system will be able to accommodate them and we would not need to tighten up. That is our present assessment," Finance Minister Lawrence Wong told reporters on Friday (April 1).
"But as we all know, a lot of things can go wrong - you can make the best of predictions… but you will have curve balls thrown at you."

Health Minister Ong Ye Kung said: "When rules are eased, personal responsibility goes up."

This means people have to take precautions, such as getting tested for Covid-19 before meeting vulnerable people, staying in isolation if one is unwell and not rushing to the emergency department unless it is necessary.

In their interview with reporters from four SPH Media Trust publications - The Straits Times, Lianhe Zaobao, Berita Harian and Tamil Murasu - the ministers explained the Government's decision to relax Singapore's Covid-19 rules.


They also answered questions about the road ahead, including whether the country will roll back on current measures if infection numbers spike.

The Government would not have relaxed restrictions if it expects to tighten them again when cases go up, Mr Ong replied.

"Nobody likes to do the cha-cha - three steps forward, two steps back. We wouldn't open up and take this decisive step if we thought we were going to step back."


But it is also important to understand how Singapore got to its current position, Mr Ong said.

He compared the country's ongoing battle with Covid-19 to weightlifting at the gym, noting that people may get muscle aches after lifting weights but also grow stronger over time.

Similarly, Singapore started with the circuit breaker in April 2020 and bore up under various sets of restrictions in the months that followed. Its population grew stronger as vaccination rates climbed, enabling it to ride out the milder Omicron wave with less strict rules in place.

"You (lift weights) every day. One week later, you get stronger. Muscle ache goes away," Mr Ong said. "Then you keep adding more weights. That's how you get stronger… and that's what we are doing for our society."

Mr Wong was asked about the economic impact of Singapore's reopening plans, especially the easing of border restrictions.

Freer travel means workers will be able to enter Singapore more easily, alleviating the labour shortage faced by some companies, he replied. The country hopes to get manpower in the construction sector back to previous levels by the middle of this year, he added.
While some local companies may be concerned about losing business to their Malaysian counterparts, they are also likely to see an uptick in demand from Malaysians and other tourists, Mr Wong added.
"So I hope that businesses will look at it both ways… There may be some downsides, but overall, it's a net plus for businesses."
Could Singapore's reopening further push up the cost of living? Broader forces in the wider world - such as the war in Ukraine and the ongoing supply chain crisis - remain the main factors at play, Mr Wong responded.
While increased demand from opening up could result in some upward pressure on prices, businesses' cost concerns will also be alleviated by the availability of more labour.
“It really has two effects. It is very hard to say what, overall, it will be,” Mr Wong said. "But it wouldn't really be the major driver of inflation in Singapore, which remains very much the broader forces which I just described."

Both ministers were also asked about Singapore's vaccination-differentiated measures and the continued need for SafeEntry, given that it is not difficult for unvaccinated people to enter prohibited venues as checks are not always stringent.
Mr Ong acknowledged that it is possible for a person to cheat the system if he is determined to do so. "But there is still some friction; it does carry a fine if you are detected. I think we want to keep that friction."
Singaporeans have generally been cooperative and are following the rules, Mr Wong added. "There will always be the ones that want to cheat the system... No matter how tight the system, these people will be there."
Moving forward, the country will keep a close eye on the global virus situation even as it eases restrictions to allow people to resume more normal lives, he added. "It's not tenable to say that just because there is a threat of something coming up in the future, now that we are in a good position, we still have to (remain on) high alert and cannot loosen (the measures)," he said.
When will Singapore do away with vaccination-differentiated measures? And what is the likelihood that people will need a second booster shot?

Finance Minister Lawrence Wong and Health Minister Ong Ye Kung addressed these and other questions during an interview with four SPH Media Trust publications on Friday (April 1).

Vaccination-differentiated measures​

Singapore will consider reviewing such measures only when it is clear that the country's hospital situation is completely stable, Mr Ong said.

This is because unvaccinated adults accounted for more than a fifth of Covid-19 cases who required intensive care or died, even though they represent only 3.5 per cent of Singapore's adult population.

"I don't think hospitals are totally out of the woods," he added. "Now is not the time to add more workload to the hospitals."

Mr Ong added that removing vaccination-differentiated measures now sends the message that it is all right for unvaccinated people to go to malls and similar settings. "And actually, it is very unsafe."

Booster shots​

Singapore will continue to monitor the Covid-19 situation, with much depending on what happens in the coming months, Mr Ong said.

Factors that will impact the country's decision include whether it sees a significant waning of protection against severe illness and the possible emergence of new variants of concern.

The authorities announced last month that people aged 80 years and above, as well as those who have severe chronic diseases or weakened immune systems, can take a second booster dose. They will still be considered fully vaccinated if they choose not to do so.

Hari Raya Puasa and Thaipusam​

The upcoming Hari Raya celebrations will be special because it has been a difficult two years for the Malay/Muslim community, Mr Wong said.

He observed that the community has made sacrifices, including having to adjust to muted festive celebrations and smaller prayer spaces in mosques.

"As Ramadan approaches, I think it's timely that we reflect on that spirit of resilience, that spirit of gotong royong that the community has exemplified in looking after one another," he said.

The minister was also asked if Thaipusam processions will be allowed to proceed as usual next year, given that the community's celebrations have been similarly downsized with no live music allowed.

"Sure - whatever is permitted under the current rules," Mr Wong replied. "Live performances, larger gatherings, these are all permitted. And certainly, these will apply to all the Indian festivals and ceremonies as well."

 

[jw5]

Lawrence is concerned about cost of living.

Lawrence Wong​

2 hrs ·
I understand many of us are concerned about the cost of living. That is why in Parliament of Singapore today, I delivered a joint Ministerial Statement on why prices are rising globally, the impact on inflation, and what this means for Singapore.
Support from #SGBudget2022 is coming. We will also need time for these measures to take effect, to monitor their impact, and consider additional steps.
For now, we are taking immediate action, such as by bringing forward some of our Budget measures to help Singaporeans and businesses cope with inflation.

$100 CDC vouchers

Service and Conservancy Charges (S&CC)

U-Save rebates, business support, and more
If more support is needed, we will stand ready to do more. Let's continue to stay united and get through as one people.