Govt ready to do more to help Singaporeans cope with impact of Iran war if situation worsens: SM Lee

When the war broke out, the Government rolled out a support package worth nearly $1 billion to help households and businesses cope with the economic fallout of the crisis.

For instance, CDC vouchers worth $500 for each household that were to be disbursed in January 2027 will be given out in June 2026.

The Cost-of-Living Special Payment will also go up by $200 for each person, bringing the total amount up to between $400 and $600 in cash for eligible Singaporeans.

The most affected sectors are also getting help. For instance, all active platform workers, private-hire drivers, and taxi drivers get $200 in April. School bus operators will get some temporary support, and businesses are getting enhanced corporate tax rebates.

These measures, SM Lee said, will not solve all problems, but they will help households and businesses cope with the immediate pressures wrought by the Middle East crisis.

Singaporeans, for their part, can focus on what they can do to ease the impact of the external economic environment.

He said: “As the saying goes, keep calm and carry on. Focus on the practical things that each of us can do to respond to the situation and make ourselves more secure, and to help one another.

“For example, we should all do our part to conserve energy – turn off the lights you do not need. Do not waste energy; save a little bit. Energy costs have gone up, fuel is scarce, electricity is expensive.”

Students can focus on their studies, friendships and personal growth. “Of course, study hard. But also make time for sports, for reading, for your CCAs (co-curricular activities), for activities that develop your character and enable you to grow as a full and complete person,” SM Lee added.

Parents, of course, will continue to focus on work and family commitments but they can also be active in the community by joining volunteer groups, he said.

“In uncertain times, our togetherness is crucial for seeing us through the troubles,” he added.

During the Covid-19 pandemic between January 2020 and May 2023, formal and informal networks in Teck Ghee, Ang Mo Kio and all over Singapore played a key role in helping people through the crisis, he said.

People made masks and hand sanitisers from everyday household materials and distributed them to others. Some families delivered food and essentials to neighbours who were quarantined, or to old folks who were at home and did not want to go out and expose themselves to the coronavirus.

These ground-up efforts made a big difference to Singaporeans’ morale and gave the sense that people were not in this alone, but with neighbours, friends and the community. It also made everyone feel that there is something meaningful they can do to help, to be active, and make a difference, he added.

Said SM Lee: “We need to renew these networks, nurture them, build them up patiently year by year, in good times and bad. So that when we need them, when there is a crisis, they are there and we can rely on them.”