Monday, February 20, 2006
Additional housing grants, 2-room flats to help low-wage workers
SINGAPORE : Low-wage workers will get an additional housing grant when they buy an HDB flat.
They can also look forward to buying 2-room flats, which will be built specifically for them.
Prime Minister Lee Hsien Loong said this in his Budget statement on Friday.
Work pays - and according to the government, in more ways than one. This is especially so for older, low-wage workers.
When it comes to housing, the government will help them become owners - by giving them better subsidies and housing options.
First-time buyers with a household income of up to $3,000 a month will be entitled to an additional CPF grant ranging from $5,000 to $20,000.
Those earning less than $1,500 will get the maximum amount of $20,000.
An estimated 40 percent of first-time buyers, or about 6,000 households, will be covered by this change.
But in line with the Workfare principle, at least one of the flat buyers must have worked at least two years before the flat purchase.
HDB will also build 2-room flats to provide a more affordable housing option for this group.
Other initiatives to help low-wage workers involve expanding job opportunities and better social support to encourage them to work.
For example, over the next three years, the government aims to ramp up the Job Re-creation Scheme to re-create 10,000 jobs a year.
$40 million will be allocated for this.
An additional $30 million will be set aside to help companies hire and re-employ older workers through the ADVANTAGE! scheme over the next two years.
$100 million is vested in the Workforce Skills Qualification System over three years to help workers progress in their skills.
Another $30 million has been set aside for 45,000 low-wage workers to learn the basic IT and literacy skills they need for higher paying jobs.
The government will also top up the Lifelong Learning Fund by $100 million to $2.1 billion.
To encourage low-wage workers to go out and work, the government will provide additional childcare and student care subsidies under a newly set-up Work Support Programme.
Lower-income households can also look forward to continued rebates off their utilities, and Service & Conservancy Charges.
The government will also top up the ComCare Fund to $600 million, up from the current $500 million.
Mr Lee said: "Growing our economy is only one aspect of making Singapore our best home. We must extend a helping hand to those who face difficulty coping with globalisation and change.
"We must help low-income households to improve their prospects and older Singaporeans to live full and active lives. And we must invest in our young, who are the hope of our future.
"This will strengthen our bonds and assure every Singaporeans of a brighter future, as we create our best home in Singapore." - CNA/de
They can also look forward to buying 2-room flats, which will be built specifically for them.
Prime Minister Lee Hsien Loong said this in his Budget statement on Friday.
Work pays - and according to the government, in more ways than one. This is especially so for older, low-wage workers.
When it comes to housing, the government will help them become owners - by giving them better subsidies and housing options.
First-time buyers with a household income of up to $3,000 a month will be entitled to an additional CPF grant ranging from $5,000 to $20,000.
Those earning less than $1,500 will get the maximum amount of $20,000.
An estimated 40 percent of first-time buyers, or about 6,000 households, will be covered by this change.
But in line with the Workfare principle, at least one of the flat buyers must have worked at least two years before the flat purchase.
HDB will also build 2-room flats to provide a more affordable housing option for this group.
Other initiatives to help low-wage workers involve expanding job opportunities and better social support to encourage them to work.
For example, over the next three years, the government aims to ramp up the Job Re-creation Scheme to re-create 10,000 jobs a year.
$40 million will be allocated for this.
An additional $30 million will be set aside to help companies hire and re-employ older workers through the ADVANTAGE! scheme over the next two years.
$100 million is vested in the Workforce Skills Qualification System over three years to help workers progress in their skills.
Another $30 million has been set aside for 45,000 low-wage workers to learn the basic IT and literacy skills they need for higher paying jobs.
The government will also top up the Lifelong Learning Fund by $100 million to $2.1 billion.
To encourage low-wage workers to go out and work, the government will provide additional childcare and student care subsidies under a newly set-up Work Support Programme.
Lower-income households can also look forward to continued rebates off their utilities, and Service & Conservancy Charges.
The government will also top up the ComCare Fund to $600 million, up from the current $500 million.
Mr Lee said: "Growing our economy is only one aspect of making Singapore our best home. We must extend a helping hand to those who face difficulty coping with globalisation and change.
"We must help low-income households to improve their prospects and older Singaporeans to live full and active lives. And we must invest in our young, who are the hope of our future.
"This will strengthen our bonds and assure every Singaporeans of a brighter future, as we create our best home in Singapore." - CNA/de
// posted by Shajahan @ 11:11 AM 