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1.81 Apart from helping Singaporeans find jobs,
the Government is also providing them substantial
support by offsetting the GST increase through
the Economic Restructuring Shares (ERS). In FY
2002, the Government set aside $1.2 billion for
the first tranche of ERS. Most Singaporeans would
by now have received their basic allocation of
ERS worth $400. To date, almost two-thirds of
the ERS have been cashed out. Some lower income
Singaporeans in 1- and 2-room HDB flats and welfare
homes failed to get their ERS because they did
not top up their CPF accounts. We are giving them
additional time to get their ERS. The grassroots
organisations are contacting them individually,
to extend financial assistance, if necessary.
Those who apply by the deadline of 31 March will
get their ERS on 1 May 2003.
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