Singapore budget 2025: up to S$800 in vouchers to mark SG60, as country enters ‘new phase’

Singapore will disburse additional cash vouchers and rebates on utilities to households to weather the rising costs of living, Lawrence Wong has announced in his maiden budget speech as prime minister, as the city state edges towards an election.

Each household will receive S$800 (US$600) in vouchers over two tranches, with S$500 disbursed in May this year and the remaining next January that can be used in local businesses, including hawkers and supermarkets. This is S$200 higher than the amount announced in last year’s budget.

The budget speech on Tuesday is the last one this parliamentary term before the general election that must be held by November this year.

The voucher scheme, called Community Development Council vouchers, was first introduced amid the Covid-19 pandemic to help lower-income households defray their cost of living and support hawkers and merchants affected by the pandemic.

Wong in his speech said Singapore’s growth was projected at 1 to 3 per cent, while inflation was expected to average 1.5 per cent to 2.5 per cent.

The prime minister had on Monday posted on social media a picture of himself holding a folder titled “Onward Together For A Better Tomorrow”. In the caption, he wrote: “It will also be a Budget that involves all of you, and advances our #ForwardSG plans for a stronger and more united society.”