Singapore’s new budget extends financial support for nation’s aerospace sector

May 29th 2020

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Singapore’s latest budget, handed down this week, has boosted the country's job support scheme (JSS) – where the government covers a percentage of workers' wages – to maintenance, repair and overhaul (MRO) operators, aerospace manufacturing companies, aerospace parts suppliers, airline fleet management services operators and pilot and crew training providers. Read More »

Singapore’s deputy prime minister and minister for finance, Heng Swee Keat, said in his budget speech these firms would be eligible for government support under the JSS to cover 75% of the first S$4,600 of an employee's gross monthly wage, up from 25% previously.

Heng said sectors such as aviation would take longer to re-open fully given the restrictions on global travel for the foreseeable future. The government would "consider providing additional help, depending on the situation and longer-term shape of these industries and plans for the economy". In the interim, Heng urged businesses to make good use of the existing support and "consider how to transform in a post-COVID world".