ASEANEWS HEADLINE-ECONOMY | SINGAPORE: Cost of living and job security among S’poreans’ top concerns to be covered in Budget 2025: PM Wong
.Prime Minister Lawrence Wong said the upcoming Budget will look at helping people to upskill and also ensure better incomes. PHOTO THE STRAITS TIMES/ANN
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SINGAPORE – The cost of living and job security are concerns that come up frequently among residents during walkabouts, Prime Minister Lawrence Wong said.
The Government has taken steps towards addressing these issues and they will be covered in upcoming public consultations on Budget 2025, he added.
In a press conference with local media on November 8, PM Wong said preparations for Budget 2025 had started and consultation sessions with the public will begin in December.
There are four broad themes – economic strategies for the next bound; opportunities for skills upgrading and jobs for workers; support for Singaporeans across different life stages; and strengthening Singaporeans’ sense of solidarity and unity as the country marks SG60.
“The broad themes I highlighted just now for the Budget consultations are very much derived from concerns that Singaporeans have highlighted,” he said, when asked about the feedback he receives from the ground.
Memento Maxima Digital Marketing“We are therefore focusing on looking at what measures we can take, what new policies, programmes and schemes we might be able to put in place to address these concerns.”
On the cost of living, he acknowledged that there were different dimensions beyond the price of food and groceries and that it extended to areas such as housing and certificates of entitlement for vehicles.
He cited the new Housing Board flat categorisation framework and increased subsidies for first-time public housing applicants as part of efforts to address these worries.
On the job front, PM Wong noted that the issue is not about overall unemployment, as unemployment rates are low, but about ensuring a sense of security amid a more turbulent global environment.
“People can sense that there are more changes around us. With global changes, with geopolitical tensions, with technology, people are worried about not just today’s job, but what about my jobs later on, and as I get older – and we are all living longer – will I still have a good job with a steady income,” he said.
ds by:The upcoming Budget will look at helping people to upskill and ensure better incomes, on top of existing efforts such as the enhancements to SkillsFuture, PM Wong added.
It will also look at providing support for Singaporeans across different life stages, such as when entering the workforce, starting families, or at a phase where they might feel sandwiched looking after elderly parents and their own children, he said.
These are among the topics he had previously listed as key areas of focus for the Government, with more support to come in Budget 2025.
During the National Day Rally in August, he had spoken of a new scheme to come for large families.
At a press conference several days later, he spoke about addressing longer-term care and housing needs for the elderly and addressing cost-of-living pressures for larger families with more young children.
Ads by:PM Wong said that he welcomed feedback, suggestions and views from the public for Budget 2025, in line with usual practices.
“I am committed to engage and to listen, to review, change and reset policies where needed, so that together we can take Singapore forward, towards a fairer, brighter and more inclusive future,” he said.
Asked about further plans for SG60 which he recently soft-launched, he said the Government would like SG60 to be something that Singaporeans can embrace.
“Certainly one of my hopes is that as we enter into SG60, we can provide more platforms and opportunities for ground-up engagement and ground-up actions,” he said.
The Government will look at facilitating local projects that individuals or community groups may wish to undertake and will empower them to do so.
“We will provide resources so that these projects can proliferate, so that SG60 is not just a top-down exercise, but it’s something that everyone can embrace and use this as an occasion for us to strengthen our sense of shared values, our sense of purpose and also our sense of solidarity with one another,” PM Wong said.
These initiatives will go beyond celebrating and commemorating Singapore’s 60th birthday, but also show greater concern for fellow citizens and the more disadvantaged members of society, he added. THE STRAITS TIMES/ANN
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