18 Feb '11, 10pm

More financial support for young families

SINGAPORE - Over the years, the support for families with young children has been growing. Budget 2011 has added another form of help for this group. While there were handouts for schoolchildren of all age groups, the centrepiece was a new Child Development Credit scheme that will receive injections of funds from the Government when it has surpluses to share. This year, the Government will pump in a total of S$90 million, benefitting 220,000 Singaporean children aged six and below. Each child's Children Development Account will receive S$300 or S$400, depending on the annual value of the family home as at Dec 31 last year. For homes valued at up to S$13,000, the child will receive S$400, while for homes valued at more than S$13,000, the credit will be S$300. The money can be used to pay for his preschool, childcare and medical costs. Taking into account the existing childc...

Full article: http://www.todayonline.com/Singapore/EDC110219-0000238/Mo...

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