Second Minister for Finance Jeffrey Siow announced the package on July 29, noting that while the world has avoided the worst-case scenario of further escalation and severe shipping disruption in the Persian Gulf, the situation remains fragile, and a durable ceasefire between the United States and Iran is proving difficult.

All Singaporean households will receive an additional S$300 in CDC vouchers in January 2027. These will be valid until December 31, 2027, and follow the S$500 in CDC vouchers disbursed in June.

The Government will also provide additional U-Save rebates in October 2026 and January 2027 to help households with their utility bills. Taken together, eligible HDB households will receive S$110 to S$190 per quarter, depending on flat type.

Monthly payouts for lower-income Singaporean households under the ComCare Interim Assistance scheme will be temporarily increased to at least S$250 per month for up to three months, with greater flexibility in income eligibility criteria.

SMEs with at least one local employee will receive S$500 in cash per local employee in November, capped at S$2,500 per company. Eligible sole proprietorships, partnerships and limited liability partnerships with at least one local business owner but no local employees will receive a flat payout of S$500. The Government expects 160,000 SMEs to benefit from the cash grant.

Some 6,900 hawkers selling cooked food will each receive S$1,200, while about 8,300 market stallholders will each receive S$600 in rent support, spread over six months from September to February 2027.

Senior Minister of State for Trade and Industry Low Yen Ling outlined the support measures for businesses. The Government will also increase its risk-share, or the share of a bank’s losses that it will absorb if a borrower defaults, from 50 per cent to 70 per cent in two financing schemes: the working capital loan scheme and the project loan scheme.

The Government expects global energy prices to remain elevated, which will translate to higher costs for petrol, diesel and electricity, as well as certain imported goods, Siow said at a press conference at the Treasury building.

Singapore’s economy grew 6.3 per cent in Q1 2026, and advanced estimates showed 5.7 per cent growth in Q2. Siow said growth was supported by strong investment in artificial intelligence, and that “we expect this momentum to continue”. However, businesses that are more exposed to supply disruptions and energy costs have come under greater pressure, with SMEs feeling these cost pressures more acutely, he added.

In a Facebook post later that day, Prime Minister Lawrence Wong said the Government is rolling out the second package of support measures to provide additional help as the situation in the Middle East remains volatile.