Grow And Share Package

Grow And Share Package

The rising costs of living around the world are of concern to all citizens. In Singapore in particular, spiraling costs have accompanied a mercuric growth rate there too. According to news from the Singapore government, as of yesterday some 2.5 million Singaporeans will get some help – the check is in the mail.
Singapore’s Government has confirmed letters having been sent to inform citizens of the amount of Growth Dividends, CPF Medisave Top-ups, Workfare and Personal Income Tax rebates they will individually receive this year. The Ministry of Finance (MOF) told reporters these letters will inform qualified citizens of their household benefits for 2011.
The so called “Grow & Share” Package, along with other budgeted benefits for 2011, are intended to help people there cope with these inflated expenses.
In Singapore, most middle to low income families receive as much as $3,500 Singapore dollars, or significantly more than the projected costs of living increases. For a typical three generation household living in a five room flat for instance, their benefit will be roughly $4,000. According to the MOF, these benefits will likely be paid out on May 1st.
The skyrocketing costs of real estate, particularly in the center of Singapore, have made live pretty unbearable for many these last couple of years. In brief, the cost of living in Singapore is on a par with some of the most expensive places on Earth. Singapore currently resides in 10th position between Geneva, Switzerland and Hong Kong – that’s 10th in the world! The chart below shows some related costs for many in Singapore.

Typical housing expense in Singapore - courtesy Focus Singapore.
Sources: http://www.pamil-visions.net

Grow And Share Package