In a bid to alleviate ongoing cost-of-living concerns, Prime Minister Lawrence Wong announced significant assistance for Singaporeans during his Budget 2026 statement on 12 February 2024. The measures aim to give financial relief to those in need as inflation continues to affect many households.
One-off Cash Payments
Eligible Singaporean adults will receive a Cost-of-Living special payment ranging from S$200 to S$400. This one-time cash payout is intended for individuals earning up to S$100,000 in assessable income, provided they do not own more than one property and are over 21 years old in 2026. Approximately 2.4 million Singaporeans are expected to benefit from this initiative, with the payouts scheduled for disbursement in September 2026.
Enhanced U-Save Rebates
- Singaporeans living in Housing and Development Board (HDB) flats will receive enhanced U-Save rebates.
- Households will receive 1.5 times the usual amount of GST Voucher-U-Save, with up to S$570 available according to flat type:
- S$570 for one- or two-room flats
- S$510 for three-room flats
- S$450 for four-room flats
- S$390 for five-room flats
- S$330 for executive or multi-generation flats
- This rebate will help cover several months of utility expenses, ensuring support for over 1 million households.
Community Development Council (CDC) Vouchers
Every Singaporean household will receive S$500 in CDC vouchers, with distribution scheduled for January 2027. These vouchers will be split:
- Half for spending at participating supermarkets
- The other half for heartland merchants and hawkers, supporting local businesses
Ongoing Support Efforts
Prime Minister Wong insisted that the government would continue to review its social support systems across sectors such as education, healthcare, housing, and retirement. He affirmed a commitment to ensuring that Singapore remains an inclusive society where all can thrive.
As Mr Wong illustrated, “We will keep working at this, steadily and responsibly, so that Singapore remains an inclusive and united society, and a place that we are all proud to call home.”