CARING for seniors and tackling cost-of-living concerns remain key focuses for Singapore’s government, with support for the latter to come in Budget 2025, said Prime Minister Lawrence Wong in a press conference days after announcing measures on parenthood, education and jobseekers at his first National Day Rally.
Noting that he “couldn’t cover everything” in his rally speech, he highlighted those two additional priorities.
First, looking after seniors would involve addressing their longer-term care and housing needs, he told Singapore media on Friday (Aug 23).
“It’s a big issue, which will continue to grow because of our increasing number of seniors,” he said.
This group includes not only those in their 70s and 80s, he added. “As we do more to take care of them, we would also be helping their children, who increasingly are not so young anymore.”
The latter are “young seniors” in their 50s, many of whom feel sandwiched because they have to look after both their aged parents and their own children, he said.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
A second priority is the cost of living, with the government looking at how to help specific segments such as larger families with more young children.
PM Wong said that the cost of living is a major concern raised by Singaporeans whom he has met on the ground, with such regular engagements being “a very important aspect” of his work.
But there are also different aspects to the issue, he added.
“There’s the day-to-day cost of living because of groceries, food and the day-to-day essentials,” he said. “But there’re also other sort of big ticket items, if you will. Housing is not something you have to (buy) every day, but the people who have to purchase a home then sometimes feel that home prices have gone up.”
Te government has different measures to support Singaporeans, including broad-based ones such as CDC vouchers, he said.
Asked why next year’s CDC vouchers are of a smaller quantum than this year’s, PM Wong – who is also Finance Minister – replied: “We haven’t had the 2025 Budget yet – that’s next year.”
“So whether or not there will be more CDC vouchers, I think everyone should just wait and see what is in the Budget announcement.”
He added that the government will continue to review and determine if broad-based or targeted measures are more adequate in supporting people who need help.
