Martin Lee @ Sg
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Growth Dividends to be Increased

In the National Day Rally held a few days ago, PM Lee Hsien Loong announced that the government will be giving out $256 million in view of the higher inflation and uncertain economic outlook.

This will be in the form of a 50% increase in the remaining installment of Growth Dividends (GD) which was supposed to be given out in 1st October 2008.

There will also be another Utilities-Save (U-Save) rebate (on top of the two previously announced) which will be given out to HDB residents in November 2008. This amount will range from $40 to $110 per household depending on the size of your house.

For more details on the payouts, you can refer to this circular from the Ministry of Finance.

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