Here are my thoughts, I dropped an email to MOF with my suggestions. But I think, most of these - they should have already thought of it

Broad-based support for firms

1. Expansion of the Jobs Support Scheme

   1. Cover up to 25% of wages

   2. A higher salary cap of at least $6000

   3. Cover the full year in 2020

Rationale: Covering 25% of wages will help firms cover at least the Employers’ CPF contributions and then some. The higher salary cap will allow firms to keep both lower and middle income Singaporeans on the payroll. Higher income Singaporeans in management making a decision to take paycuts to help save the business.

1. Expansion of existing Risk-Sharing

   1. Increase government risk-share for most schemes to 90%

   2. Interest rate cap of between 5-8% per annum

   3. All sectors eligible

   4. Require banks to provide expedited clearance for loans (<1 week upon full documents submission & reduce documents required / simpler criteria)

Rationale: Firms need quick, cheap access to cash-flow, and banks need to be ready and committed to provide, with government’s assurance & direction

1. SME Cash Grant

   1. Provide SMEs with a Cash Grant (similar to what was offered Budget 2011) amounting to 10% of their total revenues, subject to a cap of $10,000.

Rationale: Smaller firms may have lesser cash reserves compared to larger firms

1. Telecommuting Grants

   1. Provide SMEs with 95% - 100% grant to adopt telecommuting tools & solutions such as Zoom, Slack, Zapier, Dropbox, Google Suite various SAAS. Criteria should be lax - standard industry gold standards, approval should be instant, while less conventional software, as long as firm can demonstrate how it will help - it should be approved

   2. Provide a 10% wage subsidy (only for workers who are telecommuting) for firms whom have committed to allow telecommuting as a primary method for work

Rationale: This period is a perfect time for us to get firms to adapt to the idea of telecommuting and allow for work-life balance even post COVID-19. It can very much change the work culture in Singapore.

Unintended lovely consequence: Increase in Singapore’s birth rates!

1. E-Learning Grants for Firms conducting private training and education

   1. Provide SMEs with 95% to 100% grant to adopt e-Learning tools and solutions such as Learning Management Systems, Zoom, Slack

Rationale: With social distancing in place, it is really timely for educators and trainers to bring lessons fully online. This can also transform our educators and allow them to be more future-ready.

Support for Retrenched Workers

1. Re-training / Go-Back-To-School Scholarship (SkillsFuture Scholarship as a potential name?)

   1. For workers who are retrenched and relatively low-skilled, identify key areas of manpower shortage in the economy → provide choices for workers to undergo Certifications / Diplomas / Degree courses within 2 to 3 year time-frame

   2. Foot 90% to 100% of course fees + provide workers with 75% of their last drawn pay with a salary cap of $5,000.

   3. Job-matching to available vacancies within Civil Service OR private sector upon completion, with required bond of 3 years

Rationale: Automation, changing needs of the economy, inevitably means that some skills & jobs will become obsolete. Workers who are retrenched, if we can identify areas for them to undergo retraining, this will help both the workers and the economy in the long-term.

Support for freelancers, self-employed & workers in the gig economy

1. Cash grant of one month’s income based on previous NOA

Rationale: Workers in the gig economy are especially vulnerable during this period. One month’s income will provide some relief while workers find other ways to generate income.

Broad-based support for Households

1. Spending Vouchers to support Local Businesses, per individual or per household

   1. Spending Vouchers to be issued to every household ($500?) or individual ($200?)

   2. Local businesses providing goods and/or services affected by COVID-19 outbreak can apply to be listed on Government’s website as eligible for spending (Supermarkets not included because their business is actually pretty good)

   3. Spending Vouchers are tied to NRIC and cannot be resold or exchange for cash

Rationale: Providing spending vouchers to spend on local businesses can help households free up cash for use for other purposes while also supporting local businesses for example - hotels, taxis, restaurants, entertainment, tuition & enrichment