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Singapore budget to tackle living costs and jobs as election looms

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Singapore's government is expected to focus on cost of living issues, housing and employment in next week's budget, as it heads towards an election buoyed by strong growth and low inflation but facing uncertainties over U.
Singapore's Deputy Prime Minister and Finance Minister Lawrence Wong presented the 2024 Budget on February 14, 2025, focusing on addressing the rising cost of living and job security as the country approaches the 2025 General Election. Key measures include a significant boost to social support, with enhancements to the Assurance Package to help offset the impact of a 1% Goods and Services Tax (GST) hike. This includes cash payouts, MediSave top-ups, and rebates on utilities and service conservancy charges. Additionally, the budget aims to support workers through SkillsFuture top-ups, encouraging lifelong learning and career transitions. There are also plans to invest in infrastructure, particularly in the green and digital economies, to foster job creation and economic resilience. Wong emphasized the government's commitment to ensuring that Singaporeans can manage the increased costs while maintaining economic competitiveness.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/asia-pacific/singapore-budget-tackle-living-costs-jobs-election-looms-2025-02-14/ ]