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Yesterday     2003     2002     2001     2000     1999

Help for Singaporeans - DPM Lee Hsien Loong

Excerpt of speech by DPM Lee Hsien Loong in Parliament on 29 Aug 2003

Source: www.gov.sg 

"While we make these strategic changes to the economy, we should also not forget the more immediate worries of Singaporeans. Some find it hard to service their mortgages. Low income families are concerned about making ends meet. Workers are afraid of losing their jobs. People who have been retrenched are anxious to find new jobs.

"These are real worries. The CPF changes come on top of them, and will affect nearly every Singaporean. The government will therefore implement a package of measures to preserve jobs, help individual Singaporeans and businesses, and promote new business activities......

"76% of the members experiencing shortfalls borrow from HDB. All they need is for the loan to be restructured slightly, such as by extending the loan period to lower their monthly mortgage payment. HDB will assist these mortgagors, and exercise flexibility on a case by case basis. In cases where homeowners are already in financial difficulties, HDB allows them to pay their arrears by instalment, or to defer payments temporarily.

"CPF members can use their SA to top-up the shortfall in their CPF mortgage payments, to the extent that these payments are affected by the CPF changes. It will also extend bridging loans to those facing shortfalls in mortgage payments resulting from the CPF changes.....

"HDB will now relax the subletting rules further. From 1 October 2003, flat owners who have lived in their flat for at least 15 years can sublet their entire flat, regardless of whether the flat had been bought with a subsidy, and even if they still have an outstanding HDB loan. If the flat owner does not have an outstanding HDB loan, then he can sublet his entire flat after occupying it for 10 years.

More.....

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singaporeedu.gov.sg  is a new Web site, launched on 16 Aug 2003, promoting Singapore education to foreigners.

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Public Holidays DEEPAVALI is the next public holiday. It falls on 24 October 2003.

 

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Saturday
30 August 2003

Singapore Time