SINGAPORE: In a video posted on Tuesday (Feb 25) Prime Minister Lawrence Wong answered some questions about this year’s national Budget, including whether it could be considered an Election Budget.
“The fact is that the Budget coincides within a year when elections will be held. If the Budget is deemed to be generous, it is only because we have managed our finances responsibly and well,” he said.
In his video, shared on Facebook, TikTok, and Instagram, Mr Wong began by saying he would offer quick responses to questions about the Budget, which he announced the previous Tuesday (Feb 18).
@lawrencewongst Quick responses to some of your questions on SGBudget2025.@Ministry of Finance
“I’m sure many other questions will be raised when we have the Budget Debate in Parliament later this week, and I will address them in my Round Up Speech on Friday,” he added.
In the video, he also said the government is doing all that it can to help Singaporeans cope with higher living costs and “to improve their lives”.
In his Budget statement, PM Wong, who is also the Finance Minister, noted that while the Singapore economy performed beyond expectations in 2024 and grew by 4.4 per cent, the reality is that Singaporeans are still dealing with higher prices of goods, largely due to global events, and inflation is expected to range from 1.5 to 2.5 per cent.
Another question addressed by the Prime Minister was whether the measures announced in the Budget are merely temporary.
He pointed out that the SG60 package and the cost-of-living support measures are only 5 per cent of Singapore’s overall Budget for this year. In contrast, most of the government spending is for longer-term programmes. He also emphasised that the Budget contains measures that would further strengthen Singapore’s economy and social support system.
Regarding questions about why vouchers are being given out instead of cash, PM Wong said the response to the CDC vouchers in the past had been “very positive”. This led to the decision to distribute SG60 vouchers this year.
The vouchers will not only help Singaporeans but also benefit hawkers and merchants in the heartland.
Mr Wong acknowledged that it may be difficult for some to keep track of all the support being offered and explained that is why a “Support for You Calculator” is available here.
“So you can go online and find out how you will benefit,” he added. /TISG
Read also: Survey finds 55% of Singaporeans feel Budget measures not enough for rising costs