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SINGAPORE – Deputy Prime Minister and Finance Minister Lawrence Wong announced more support measures and payouts to help households, workers and businesses deal with inflation in the Budget speech on Tuesday.

Here are some highlights from his speech: 1. Assurance Package top-ups and payouts ST PHOTO: BENJAMIN SEETOR A total of $3 billion will be pumped into the Assurance Package. The package will cost $9.6 billion, up from $6.6 billion.

Payouts will come in the form of a new Cost-of-Living Special Payment of between $200 and $400 for each eligible adult Singaporean. An additional senior bonus of between $200 and $300 will be given to each eligible Singaporean aged 55 and above.

Cash payouts will be increased by between $300 and $650 for eligible Singaporeans, bringing the total amount received by each adult Singaporean to between $700 and $2,250 over five years.

Singaporean households will also receive $300 in Community Development Council (CDC) vouchers in January 2024, up from the $200 the Government had earlier announced.

READ FULL STORY: Sporeans to get more in GST voucher, cash payouts to cope with rising costs 2. Housing measures and grants PHOTO: ST FILE Families with young children, as well as married couples aged 40 and younger buying their first home will get more support in their house hunt.

This group of home seekers will get an additional ballot chance for their first Build-To-Order flat application. This will be implemented later in 2023.

For those buying resale flats, the Central Provident Fund Housing Grant will, with immediate effect, be increased from $50,000 to $80,000 for eligible families purchasing four-room or smaller resale flats for the first time, and from $40,000 to $50,000 for those buying five-room or larger flats.

READ FULL STORY: Higher grant for first-time HDB resale flat buyers; additional BTO ballot chance for some 3. Higher taxes for high-value property, luxury cars and tobacco PHOTO: ST FILE Buyers stamp duty for residential properties: The portion of the propertys value in excess of $1.5 million, and up to $3 million, will be taxed at 5 per cent, up from the current 4 per cent. The portion in excess of $3 million will be taxed at 6 per cent, up from the current 4 per cent.

Luxury cars: Buyers of vehicles with open market value (OMV) of more than $40,000 will pay higher marginal additional registration fee (ARF) rates than they do today. For the highest OMV tier, the revised ARF rates will be 320 per cent, up from 220 per cent today.

Tobacco: Excise duty across all tobacco products will increase by 15 per cent from Tuesday.

READ FULL STORY: Help to weather inflation, more progressive property and vehicle taxes 4. CPF monthly salary ceiling to rise PHOTO: ST FILE The CPF monthly salary ceiling will be increased from $6,000 to $8,000 in 2026 to keep pace with rising salaries.

The increases will be phased in over four years, starting from 2023, to allow employers and employees to adjust to the changes.

READ FULL STORY: CPF monthly salary ceiling to be raised to $8,000 by 2026 5. Baby Bonus boost ST PHOTO: FELINE LIM The Baby Bonus cash gift will be increased by $3,000 for all eligible Singaporean children born on Feb 14, 2023 and after. This means first and second children will receive $11,000, up from $8,000. For the third child onwards, the gift will be $13,000, up from $10,000.

Parents can expect up to $9,000 in payouts in the first 18 months of the childs life. Subsequently, $400 will be paid out every six months starting from when the child is two years old until the child turns 6.

Government-paid paternity leave will be doubled from two weeks to four weeks for eligible working fathers of Singaporean children born on or after Jan 1, 2024.

The one-off Baby Support Grant of $3,000 will be extended to children born from Oct 1, 2022 to Feb 13, 2023. It was previously for children born from Oct 1, 2020 to Sept 30, 2022.

READ FULL STORY: $3k more in baby bonus, more financial support for childrens early years 6. More support for workers ST PHOTO: LIM YAOHUI The Government will continue to provide wage offsets until 2025 to employers who hire senior workers.

It will extend the Part-time Re-employment Grant until 2025 to encourage employers to offer part-time re-employment, other flexible work arrangements, and structured career planning to senior workers.

It will pilot the role of Job-Skills Integrators in precision engineering, retail and wholesale trade sectors. These integrators, which can be existing institutions, will engage enterprises to understand the manpower and skills gaps in the sector and work with training providers to close these gaps.

To encourage firms to employ former offenders, the Government will introduce the Uplifting Employment Credit to provide wage offsets for a limited time.

READ FULL FULL STORY: Jobs-Skills Integrators to ensure training leads to good job prospects 7. Tax deductions for donations extended PHOTO: ST FILE The 250 per cent tax deduction for donations to Institutions of a Public Character, or registered charities, and eligible institutions which was announced in Budget 2021 will be extended for three years to the end of 2026.

To further support social service agencies that serve seniors, there will be a $1 billion top-up to the Community Silver Trust that allows the Government to match donations dollar for dollar.

READ FULL STORY: Govt to extend 250% tax deduction for donations until 2026 More On This Topic Govt will help Sporeans tide through tough times and uncertainties, says PM Lee Singapore Budget 2023: Read more stories, views and analyses

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Politics

Another tantrum from the Labour backbenches is inevitable

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Rachel Reeves hints at tax rises in autumn budget after welfare bill U-turn

In common with many parents across the country, here’s a conversation that I have with my young daughter on a semi-regular basis (bear with me, this will take on some political relevance eventually).

Me: “So it’s 15 minutes until your bedtime, you can either have a little bit of TV or do a jigsaw, not both.”

Daughter: “Ummmm, I want to watch TV.”

Me: “That’s fine, but it’s bed after that, you can’t do a jigsaw as well.”

Fast-forward 15 minutes.

Me: “Right, TV off now please, bedtime.”

(Pause)

Daughter: “I want to do a jigsaw.”

Now replace me with the government, the TV and jigsaw options with axing welfare cuts and scrapping the two-child cap, and my daughter with rebellious backbenchers.

Politics latest: Former Labour leader calls for wealth tax on assets above £10m

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Rachel Reeves’s fiscal dilemma

That is the tension currently present between Downing Street and Labour MPs. And my initial ultimatum is the messaging being pumped out from the government this weekend.

In essence: you’ve had your welfare U-turn, so there’s no money left for the two-child cap to go as well.

As an aside – and before my inbox fills with angry emails lambasting me for using such a crude metaphor for policies that fundamentally alter the lives of some of the most vulnerable in society – yes, I hear you, and that’s part of my point.

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Welfare U-turn ‘has come at cost’

For many in Labour, this approach feels like the lives of their constituents are being used in a childish game of horse-trading.

So what can be done?

Well, the government could change the rules.

Altering the fiscal rules is – and will likely remain – an extremely unlikely solution. But as it happens, one of Labour’s proverbial grandparents has just popped round with a different suggestion.

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Welfare: ‘Didn’t get process right’ – PM

A wealth tax, Lord Neil Kinnock says, is the necessary outcome of the economic restrictions the party has placed on itself.

Ever the Labour storyteller, Lord Kinnock believes this would allow the government to craft a more compelling narrative about whose side this administration is on.

That could be valuable, given one of the big gripes from many backbench critics is that they still don’t really understand what this prime minister stands for – and by extension, what all these “difficult decisions” are in aid of.

The downside is whether it will actually raise much money.

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Is Corbyn an existential risk to Labour?

The super-rich may have lots of assets to take a slice from, but they also have expensive lawyers ready to find novel ways to keep their client’s cash away from the prying eyes of the state.

Or, of course, they could just leave – as many are doing already.

In the short term, the future is a bit easier to predict.

If Downing Street is indeed now saying there is no money to scrap the two-child cap (after heavy briefing in the opposite direction just weeks ago), an almighty tantrum from the backbenches is inevitable.

And as every parent knows, the more you give in, the harder it becomes to hold the line.

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US

Deadly Texas floods: What were the warnings?

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Deadly Texas floods: What were the warnings?

Questions have been raised over extreme weather warnings in Texas, after heavy rain caused fatal flash floods along the Guadalupe River.

At least 51 people have died from the flooding in Texas, with an unknown number of people – including 27 girls from Camp Mystic in Kerr County – still missing.

As rescue teams continue to search for the missing, local and federal officials have come under fire over their flood preparations and about why those along the river weren’t warned of the risks sooner.

A map showing the Guadalupe River in Kerr County, which burst from heavy rain and caused flash flooding
Image:
A map showing the Guadalupe River in Kerr County, which burst from heavy rain and caused flash flooding

Campers from Camp Waldemar embrace after arriving at a reunification area. Pic: Jason Fochtman/Houston Chronicle via AP
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Campers embrace at a reunification area. Pic: Jason Fochtman/Houston Chronicle via AP

What happened?

As much as 10ins (25cm) of heavy rain fell in just a few hours overnight in central Kerr County on Friday, causing the banks of the Guadalupe River to burst at around 4am local time.

Homes and vehicles were swept away by the downpour – equivalent to months’ worth of rain – while 27 girls staying at Camp Mystic, a Christian summer camp along the river, went missing when the fast-rising floodwaters hit.

The death toll stands at:
• At least 43 people, including 15 children and 28 adults, in Kerr County,
• One person in Kendall County,
• At least four people in Travis County,
• At least two in Burnet County,
• And one person in the city of San Angelo.

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House sweeps away in flash floods

What flood warnings were there?

Private forecasting company AccuWeather said it and the National Weather Service (NWS) sent warnings about potential flash flooding hours before it began, urging people to move to higher ground and evacuate flood-prone areas.

The NWS also issued flash flood emergencies – a rare alert notifying of imminent danger – at 4.23am local time.

In a statement, AccuWeather said that “these warnings should have provided officials with ample time to evacuate camps such as Camp Mystic and get people to safety”.

It also called Texas Hill County one of the most flash-flood-prone areas of the US because of its terrain and many water crossings.

However, chief of the Texas Division of Emergency Management Nim Kidd said that one NWS forecast earlier in the week had called for up to six inches of rain.

“It did not predict the amount of rain that we saw,” he said.

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Texas searches for missing children

Were they enough?

Locals have told various news agencies that while there had been phone alerts late into the night, forecasts headed into Friday evening did not predict the extreme conditions.

Christopher Flowers, who was staying at a friend’s house along the river when the flooding started, told the Reuters news agency: “What they need is some kind of external system, like a tornado warning that tells people to get out now.”

Kerrville resident Darryl Huffman told Sky’s US partner network NBC News that he did not believe the storm would pose such danger before its arrival.

“I looked out the window and it was barely sprinkling outside,” he said, “so I had no indication that the river was going to be right outside my driveway”.

People climb over debris on a bridge atop the Guadalupe River after a flash flood. Pic: AP
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People climb over debris on a bridge atop the Guadalupe River in Ingram, Texas. Pic: AP

A Sheriff's deputy pauses while searching for the missing in Hunt, Texas.Pic: AP/Julio Cortez
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A Sheriff’s deputy pauses while searching for the missing in Hunt, Texas. Pic: AP/Julio Cortez

Jonathan Porter, chief meteorologist at AccuWeather, said it appeared evacuations and other proactive measures could have been undertaken to reduce the risk of fatalities.

He said in a statement: “People, businesses, and governments should take action based on Flash Flood Warnings that are issued, regardless of the rainfall amounts that have occurred or are forecast.”

Separately, the NWS’s union told NBC News the agency’s offices in central Texas were well-staffed and had issued timely warnings, “giving preliminary lead times of more than three hours before warning criteria were met”.

What have officials said?

Local and federal officials have said they had not expected such an intense downpour of rain and insisted that no one saw the flood potential coming.

Kerr County Judge Rob Kelly, the county’s top elected official, said: “We know we get rain. We know the river rises. But nobody saw this coming.”

“We have floods all the time. This is the most dangerous river valley in the United States,” he said, adding: “We had no reason to believe this was going to be anything like what’s happened here. None whatsoever.”

Mr Kelly separately noted that while the county considered a flood warning system along the river that would have functioned like a tornado warning siren about six or seven years ago, “the public reeled at the cost”.

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At a news conference with the Texas governor, Homeland Security secretary Kristi Noem said on Saturday that “everybody knows that the weather is extremely difficult to predict” before saying “we have all wanted more time and more warning and more alerts and more notification” from the NWS.

She said a “moderate” flood watch issued on Thursday by the NWS had not accurately predicted the extreme rainfall and said the Trump administration was working to upgrade their technology.

Homeland Security Secretary Kristi Noem and Texas Gov. Greg Abbott give a briefing on the flash floods in Texas. Pic: AP
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Kristi Noem and Texas governor Greg Abbott give a news briefing. Pic: AP

Will forecasting get better?

While Ms Noem said technology for the NWS would be upgraded, the White House has previously been criticised after Donald Trump‘s administration ordered 800 job cuts at the National Oceanic and Atmospheric Administration (NOAA) – the parent organisation of the NWS.

A 30% cut to its budget is also in the pipeline, subject to approval by Congress.

Professor Costa Samaras, who worked on energy policy at the White House under President Joe Biden, said NOAA had been in the middle of developing new flood maps for neighbourhoods and that cuts to NOAA were “devastating”.

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Science

Astronomers Discover 3I/ATLAS, Largest Interstellar Comet Yet Detected

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Astronomers Discover 3I/ATLAS, Largest Interstellar Comet Yet Detected

Astronomers have discovered the third interstellar comet to pass through our solar system. Named 3I/ATLAS (initially A11pl3Z), it was first spotted July 1 by the ATLAS telescope in Chile and confirmed the same day. Pre-discovery images show it in the sky as far back as mid-June. The object is racing toward the inner system at roughly 150,000 miles per hour on a near-straight trajectory, too fast for the Sun to capture. Estimates suggest its nucleus may be 10–20 km across. Now inside Jupiter’s orbit, 3I/ATLAS will swing closest to the Sun in October and should remain observable into late 2025.

Discovery and Classification

According to NASA, in early July the ATLAS survey telescope in Chile spotted a faint moving object first called A11pl3Z, and the IAU’s Minor Planet Center confirmed the next day that it was an interstellar visitor. The object was officially named 3I/ATLAS and noted as likely the largest interstellar body yet detected. At first it appeared to be an ordinary near-Earth asteroid, but precise orbit measurements showed it speeding at ~150,000 mph – far too fast for the Sun to capture. Astronomers estimate 3I/ATLAS spans roughly 10–20 km across. Signs of cometary activity – a faint coma and short tail – have emerged, earning it the additional comet designation C/2025 N1 (ATLAS).

Studying a Pristine Comet

3I/ATLAS was spotted well before its closest approach, giving astronomers time to prepare detailed observations. It will pass within about 1.4 AU of the Sun in late October. Importantly, researchers can study it while it is still a pristine frozen relic before solar heating alters it. As Pamela Gay notes, discovering the object on its inbound leg leaves “ample time” to analyze its trajectory. Astronomers are now racing to obtain spectra and images – as Chris Lintott warns, the comet will be “baked” by sunlight as it nears perihelion.

Determining its composition and activity is considered “a rare chance” to learn how planets form in other star systems. With new facilities like the Vera C. Rubin Observatory coming online, researchers expect more such visitors in the years ahead. 3I/ATLAS offers a rare chance to study material from another star system.

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