More help on the way for S'poreans to cope with cost of living
The cost of living is an issue many Singaporeans are anxious about, and the Government has taken steps to help people cope and ensure that no one is left behind, Senior Minister Lee Hsien Loong said on Jan 18.
He added that more assistance is on the way in 2025, with Prime Minister Lawrence Wong delivering the Budget statement in Parliament in February.
“PM Wong has said there should be good news to look forward to,” said SM Lee, who was speaking at an Edusave awards presentation ceremony at Teck Ghee Primary School.
Mr Lee noted that Singapore’s economy did well in 2024 and that the country has emerged from the Covid-19 pandemic, but anxieties remain.
“Singaporeans are anxious about the cost of living, and to some extent anxious about job security,” he said, adding that people are worried about keeping their jobs if the economy changes and providing for their families.
SM Lee outlined the help that the Government has provided so far: On the national level, this includes $800 in Community Development Council vouchers in 2024, and a further $300 in January, public transport vouchers, GST vouchers, U-Save rebates for utilities and cash payouts to the needy.
There is help too at the local level, he said. Citing his Teck Ghee ward as an example, he pointed to the help provided for needy residents, which includes bursary awards, free tuition and reading programmes for children, meal vouchers and grocery shopping trips.
Care packages and hongbaos funded by community donors were also distributed to some 400 seniors recently, he said.
“All this will help everyone to cope, to deal with the cost of living, to get by and more than get by, and make sure nobody is left behind,” said SM Lee.
Mr Lee said the Government also has its eye on future opportunities and wider challenges facing Singapore.
There are new technologies such as artificial intelligence and robotics, which are creating new jobs and transforming businesses, he said.
US President-elect Donald Trump takes office on Jan 20, he added, pointing out that the world is watching to see what Mr Trump would do.
“How will US-China relations develop? What does that mean for our part of the world – Taiwan, South China Sea? What does it mean in the Middle East – between Israel and the Palestinians? In Europe – the war with Ukraine and relations with Russia? So, there are many uncertainties around us.” said SM Lee.
“The Government is actively preparing us for this world and preparing us for these challenges and the new opportunities ahead.”
These efforts include investing heavily in education, upgrading schools with better facilities, updated curricula and better-trained teachers, he said.
Pointing to his own experience facing uncertainties, SM Lee said Singapore became independent while he was in school.
“My classmates and I were in your shoes, facing a changing world, wondering what would the future hold for Singapore,” he said.
There were formidable challenges then, concerning security and unemployment, and schools then were also basic, with few sports facilities and no enrichment programmes. But SM Lee pointed out that the Pioneer and Merdeka generations knuckled down and worked hard to face down these challenges, and created a better life for themselves and their children.
“So today, with all the resources that we have, with the confidence we have done it before, I have no doubt that you can do it again. That whatever challenges there are, we will surmount them, and we will be able to take Singapore forward for the next 60 years,” he said.
Among the students who received an Edusave Merit Bursary was Liaw Ri Guang, 10, a Primary 5 pupil from Townsville Primary School.
His father, Mr Liaw Wee Liang, 39, said this was the fourth consecutive year his son had received an Edusave award.
“It’s encouraging for him, and something that he can work towards every year,” said Mr Liaw.
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