RDU’s New Year Message: Higher Living Costs Still Loom for Singaporeans

SINGAPORE: In a New Year message, Red Dot United’s (RDU) Secretary-General, Mr. Ravi Philemon, expressed concern that the Singaporean public’s hope for reduced living costs in 2024 might go unmet. He emphasized that, although global conditions contribute to rising costs, local policies, including recent hikes in GST, housing, COE, and utilities, also play a significant role in the nation’s economic pressures. This, he noted, has added to the “mental anguish of Singaporeans about the cost of living crisis,” with many hawkers and coffee shop owners raising prices by more than just 1% as of Jan 1.

While government assistance is available through various schemes, Mr. Philemon highlighted that these measures fall short for older workers, retirees, and lower-wage earners, based on feedback from neighborhoods like Jurong and Tanjong Pagar. He warned against creating a “voucher-to-voucher” culture that risks dependence on government aid, urging instead for a reduction in living costs that allows individuals more financial independence.

The message also emphasized pressing social issues like mental health, perceived as Singapore’s top challenge, and urged more comprehensive support. Additionally, Mr. Philemon warned of employment impacts from technological changes, particularly AI, and called for more aggressive climate action, underscoring the climate crisis as a collective global responsibility.

Mr. Philemon closed by reminding Singaporeans that unity is key: “The future is something we co-create. No matter which team you support, it’s about Singapore and Singaporeans.”