The issues of cost of living and job security are topping the agenda as Prime Minister Lawrence Wong prepares for Budget 2025 consultations. During a recent press conference, he emphasised the Government’s commitment to addressing these concerns, drawing insights from Singaporeans during his walkabouts.
Public Consultations Set for December
In a media briefing held on 8 November 2024, PM Wong outlined the structure for the upcoming public consultations slated to begin in December. These discussions will revolve around four key themes:
- Economic strategies for future growth.
- Skills upgrading and employment opportunities for workers.
- Support mechanisms for Singaporeans at various life stages.
- Fostering unity and solidarity as SG60 approaches.
Wong stated, “The broad themes I highlighted just now for the Budget consultations are very much derived from concerns that Singaporeans have highlighted.”
Exploring Cost of Living Challenges
When addressing the cost of living, PM Wong acknowledged its multifaceted nature. Beyond grocery prices, he pointed out the impacts of housing costs and Certificates of Entitlement for vehicles. Initiatives, such as the new Housing Board flat categorisation framework and increased subsidies for first-time public housing applicants, aim to alleviate these pressures.
Job Security in a Changing Global Landscape
On the job security front, PM Wong reassured that, despite low unemployment rates, concerns linger. “People can sense that there are more changes around us,” he remarked, noting fears regarding future job stability amid global shifts and technological advancements.
Budget 2025 will focus on upskilling initiatives and income enhancement, in line with existing efforts like the SkillsFuture programme.
Support Across Life Stages
In a bid to assist Singaporeans at various phases of their lives—whether entering the workforce, starting families, or caring for aging parents—more support will be introduced. PM Wong previously discussed plans for large families and long-term care for the elderly during the National Day Rally.
Encouraging Public Engagement
The Prime Minister welcomed public feedback for Budget 2025, stating, “I am committed to engage and to listen.” He aims to create a fairer and more inclusive future with policies that resonate with Singaporeans.
Looking Forward to SG60
As Singapore approaches its 60th anniversary, Wong expressed hopes for SG60 to be inclusive and participatory. “We will provide resources so that these projects can proliferate, so that SG60 is not just a top-down exercise,” he explained.
Moreover, these initiatives will not only celebrate a milestone but also reflect a commitment to care for the more disadvantaged in society.