Tag: inflation

Singapore’s Giant Supermarket Launches Unlimited Vouchers Amidst GST Hike and Inflation

SINGAPORE, May 18, 2023 – With the backdrop of the Goods and Services Tax (GST) increase and mounting inflation, Singapore’s supermarket chain, Giant, is stepping up to alleviate some of the financial pressure on consumers. The supermarket chain has announced that it will absorb the 1% GST hike, striving to keep prices for essential groceries as low as possible.

More significantly, in a bid to provide customers with additional savings on their shopping, Giant is rolling out a new voucher campaign. From now until 7 June, customers can download an unlimited number of vouchers from Giant’s Facebook page or official website. These vouchers, with denominations of SGD$3, SGD$5, and SGD$20, can be used to offset respective amounts on their grocery purchases.

To make use of these vouchers, shoppers need to meet a certain spending threshold in a single transaction. For the SGD$3 voucher, a minimum spend of SGD$30 is required; for the SGD$5 voucher, the minimum spend is SGD$50. The SGD$20 voucher, exclusively for yuu Rewards Club members, requires a minimum spend of SGD$100.

Giant Singapore

It’s noteworthy that only one voucher can be redeemed per transaction per customer, and they cannot be used in conjunction with other promotions, including senior citizen discounts. Moreover, the vouchers cannot be used for online purchases, as they are redeemable only at manned cashier stations in physical Giant stores.

While these vouchers are applicable on most products, certain exclusions do apply, which include tobacco, cigarettes, newspapers, magazines, infant milk powder, phone cards, Dairy Farm gift vouchers, lottery tickets, and purchases from concessionaires.

With this campaign, it’s the perfect time to stock up on all other essentials such as groceries and household items. You can locate a Giant outlet nearest to you via the store locator on Giant’s official website.

Rising Inflation and Healthcare Costs: A Shared Responsibility for All

As inflation and healthcare costs continue to soar, Singaporeans are increasingly feeling the pinch. The government, insurance companies, healthcare institutions, and employers must all take action to alleviate the burden on citizens and ensure accessible and affordable healthcare for all.

Firstly, the government should consider implementing policies to address the rising costs of healthcare. Subsidies, tax reliefs, and other financial incentives can be introduced to help Singaporeans cope with increasing medical expenses. Additionally, government agencies can collaborate to promote public health education, encouraging preventive measures and promoting healthy lifestyles among citizens.

From the perspective of insurance companies, they can offer a wider range of insurance products with more affordable premiums and comprehensive coverage. Tailored insurance plans that cater to individuals’ specific needs and financial capabilities will enable more people to access essential healthcare services without breaking the bank.

Healthcare institutions should focus on improving the quality of care by investing in research and innovation, adopting advanced medical technology and equipment to enhance the accuracy and efficacy of diagnosis and treatment. At the same time, medical institutions should prioritize improving the service mindset of healthcare professionals through training and incentive measures to elevate their expertise and service quality.

Employers also need to recognize the impact of inflation and high healthcare costs on employees’ mental health. Companies can alleviate employees’ medical burden by providing comprehensive health benefits, such as medical insurance and health check-ups. Furthermore, implementing flexible work arrangements, such as remote working and flexible working hours, can help employees cope with challenges in various aspects of life.

In conclusion, as inflation and medical costs continue to rise, Singaporeans face increasing pressure in their daily lives. The government, insurance companies, medical institutions, and employers must work together to address the issue of high healthcare costs and ensure that everyone has access to quality, affordable medical services. Only through the collective efforts of all parties can Singaporean society truly achieve a healthy and happy life.

Singapore Government Strengthens Cash Assistance Programs in Response to Inflation and Consumption Tax Hike

The Singapore government is strengthening its assurance and support packages and permanent Goods and Services Tax (GST) voucher scheme in the 2023 budget to provide more cash assistance to Singaporeans to ease economic pressures from inflation and a hike in consumption tax. These additional subsidies will help lower-income and middle-income households offset the extra expenses they face due to inflation and the increase in consumption tax.

If you are a Singaporean aged 21 and above, with an estimated income of not more than $100,000 and owning not more than one property, you can receive up to $1,350 in subsidies from the end of 2022 to the end of 2026. For Singaporeans with an estimated income of not more than $34,000, they can receive up to $2,250 in subsidies.

In addition, the government will enhance the permanent GST voucher scheme. If you are a Singaporean aged 21 and above, with an estimated income of not more than $34,000 and owning not more than one property, and the annual value of your residence does not exceed $21,000, you will receive GSTV-Cash. The cash subsidy will increase from $250 in 2022 to $350 in 2023, and to $450 in 2024. If the annual value of your property does not exceed $13,000, the cash subsidy you can receive will increase from $500 in 2022 to $700 in 2023, and to $850 in 2024. The government will start distributing the 2023 vouchers from August this year.

Furthermore, Singaporeans aged 21 and above, with an estimated income of not more than $100,000 and owning not more than one property, will receive a one-time special cash assistance of $200 to $400 in June this year. Those aged 55 and above, with an estimated income of not more than $34,000 and owning not more than one property, and the annual value of their residence does not exceed $34,000, will also receive a senior citizen bonus of $200 to $300 in June.

In addition, each household can receive $300 worth of community vouchers in January 2024, and eligible households will receive double the amount of their utilities rebates this year, along with the rebates they receive in January, for a total of up to $760.

Overall, the government’s cash assistance policies will effectively help Singaporeans ease the economic pressures from inflation and the hike in consumption tax, especially for lower-income and middle-income households. These subsidies will improve their quality of life and reduce their economic burdens. The government’s efforts aim to ensure economic recovery and promote social stability.