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ARTICLE · 05 MAY 2020

Job Support Scheme: Implications For Singapore Family Offices

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After initial successes in the ongoing fight against COVID-19, Singapore has experienced an apparent resurgence in cases of the highly infectious virus. The Government has responded by extending the ‘circuit breaker' which was initially expected to end on 4 May 2020.

SingaporeCoronavirus (COVID-19)
Stephen Banfield
Stephen Banfield
Samantha Ng
Samantha Ng
Stacy Choong
Stacy Choong
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After initial successes in the ongoing fight against COVID-19, Singapore has experienced an apparent resurgence in cases of the highly infectious virus. The Government has responded by extending the 'circuit breaker' which was initially expected to end on 4 May 2020. This has placed curbs on social mobility and has caused disruptions to typical patterns of consumer behavior. Many local businesses are under pressure and those operating in the tourism, travel and the recreational sector have been the hardest hit.

The Singapore Government has been decisive and proactive in supporting businesses with the view to smoothing the economic impact. A key part of this support package is the Jobs Support Scheme (JSS). This measure is intended to provide short term financial support to local businesses with a view to preserving pre-pandemic levels of employment, and shortening the period before the economy recovers.

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