Amid global cost-of-living crisis, Singapore’s bold budget measures viewed as lifeline for residents

SINGAPORE: Prime Minister Lawrence Wong acknowledged the widespread issue of rising living costs globally but emphasized that Singapore’s unique ability to come together as a community offers a pathway to overcome these challenges. Speaking on Mar 23 during his visit to Aljunied GRC, PM Wong assured residents that the government is actively addressing these concerns through the 2025 Budget.

In a recent report from Straits Times, PM Wong was quoted as saying, “We know the cost of living is a big concern for residents, and that’s why in this year’s Budget, we have rolled out additional measures to help Singaporeans” he said, reinforcing the government’s commitment to supporting its citizens during tough economic times.

Support for seniors: Financial relief in the 2025 budget

During his visit to Kovan Hub, PM Wong detailed the direct financial support seniors would receive under this year’s budget. Couples aged 60 and above will be provided a total of $2,400 in combined CDC and SG60 vouchers. The vouchers—$800 each for both SG60 and CDC—will be distributed across two periods in May 2025 and January 2026. This initiative aims to ease the financial pressures many seniors face, especially as they navigate rising living costs.

“We hope this will at least provide some help for your cost of living,” PM Wong remarked to seniors at the community event.

Fostering digital literacy and community engagement

In addition to addressing financial concerns, PM Wong’s visit focused on promoting digital literacy among seniors and encouraging them to remain active. At the event, he awarded prizes to families who participated in a photo contest and contributed to a time capsule celebrating Singapore’s SG60. The capsule will hold items of national, cultural, or local significance, with contributions from residents of Aljunied GRC.

Grassroots leaders also used the opportunity to highlight the Digital for Life initiative, which offers free digital clubs aimed at enhancing the digital skills of seniors. These clubs, available in 40 community centres across Singapore, currently boast more than 3,000 members.

Engagement with the community

The day concluded with PM Wong and grassroots adviser Ms Chan Hui Yuh engaging with residents at coffee shops and Housing & Development Board (HDB) stalls in Serangoon North. Among those who interacted with the Prime Minister was David Choi, a 45-year-old Singapore Armed Forces regular, who expressed satisfaction with the financial measures rolled out in the 2025 Budget. “The CDC and SG60 vouchers will help my retired mother with groceries and daily expenses,” he said, reflecting the practical impact of the government’s initiatives on ordinary Singaporeans.

This visit marks PM Wong’s second trip to an opposition-held constituency, continuing his efforts to connect with a wide range of Singaporeans and ensure that support is extended to all corners of the nation.