PM Wong’s National Day pledge says gov’t will “redouble efforts” to stabilise cost of living

The government will combat inflation through support measures such as CDC vouchers and cash payouts.

Prime Minister Lawrence Wong said in his National Day message that Singapore will "redouble efforts to keep the cost of living stable" amidst rising inflation.

PM Wong said that while the government cannot control global prices, it can cushion the impact of inflation through support measures like CDC vouchers, cash payouts, and utilities rebates, particularly for lower- and middle-income citizens.

The government also aims to increase wages by more than inflation to improve the quality of life for all Singaporeans.

To maintain housing affordability, Singapore has imposed additional cooling measures and ramped up the supply of new HDB flats.

In driving economic growth, the government will invest in R&D and new technologies like robotics and AI to create more career opportunities. These efforts are supported by SkillsFuture, which helps workers adapt to new jobs entering the market.

In addition, Singapore will also focus on its social infrastructure which includes improving healthcare and social services for the aging population, uplifting lower-wage workers, supporting vulnerable families, and boosting retirement adequacy.

Lastly, the government will establish Forward Singapore which will boost social safety nets, enhance support for families, and help Singaporeans bounce back stronger from employment setbacks.