Enhancements to SHG, AHG will cost Govt over S$440m a year
It will cost the Government at least S$150 million to subsidise the enhancements made to the Special CPF Housing Grant (SHG), said Minister for National Development Khaw Boon Wan in a Facebook post yesterday.
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It will cost the Government at least S$150 million to subsidise the enhancements made to the Special CPF Housing Grant (SHG), said Minister for National Development Khaw Boon Wan in a Facebook post yesterday.
This will raise the Government’s current grants for new flats, the SHG and Additional CPF Housing Grant (AHG), from about S$290 million to over S$440 million a year.
Mr Khaw revealed this figure a day after the Government announced that the SHG will be extended to middle-income families earning up to S$6,500 and those who buy four-room flats in non-mature estates. The income ceiling for the grant was also raised to S$3,250 for singles.
The grant was previously applicable to only buyers who purchased two- or three-room units and had an income ceiling of S$2,250. The income ceiling for AHG remains at S$5,000.
Mr Khaw also assured that “the enhancement is not a trivial policy shift, but a significant one made after careful consideration”. SUMITA SREEDHARAN
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