Singaporeans React to Budget 2025 Announcements and Financial Support Measures

“Prime Minister Lawrence Wong’s Budget 2025 announcement on 18 February has prompted diverse reactions from Singaporeans, with many welcoming financial support while others remain sceptical about its long-term impact.

For new homeowner Astrid Yan, the introduction of $600 in SG60 vouchers and $800 in Community Development Council (CDC) vouchers felt like an unexpected windfall. “”It’s like receiving an extra ang bao throughout the year,”” she said, highlighting how the funds will ease the burden of renovations for her Build-To-Order (BTO) flat in Kallang, which she and her husband will move into in May.

Beyond household expenses, Yan was intrigued by the government’s $100 cultural credit for Singaporeans aged 18 and above, which encourages attendance at arts and heritage events. “”It’s an interesting way to get us to explore our culture,”” she noted.

Meanwhile, semi-retired Dorcas Chung, 65, praised the enhancements to MediSave, where the government will match voluntary top-ups for seniors aged 55 to 70. “”Medical costs increase as we age, so any help with MediSave is a relief,”” she said. She also welcomed the expansion of the Enhancement for Active Seniors (Ease) programme, which now includes subsidies for home modifications to improve safety for elderly residents in both public and private housing.

However, not everyone was optimistic. Lim, a 63-year-old part-time cleaner earning $850 per month, expressed doubt that the measures would bring real change. “”Everything is getting more expensive—food, bills, daily essentials. One Budget isn’t going to fix that,”” he said, adding that he is too old to benefit from upskilling initiatives.

Similarly, 40-year-old Lee Han Quan questioned how sustainable these payouts would be. “”Will these cash benefits continue after the elections?”” he asked.

PM Wong acknowledged the financial challenge, stating that while government spending is set to rise by 6.6%, increased corporate and personal income tax collections are expected to offset the costs. Singapore is projected to end FY2024 with a $6.4 billion surplus, reversing the previous year’s deficit of $2.6 billion. “”Our revenues have grown, but so have our investments in Singaporeans,”” he said.”