Budget 2026: Calibrated manpower tweaks likely, not sweeping changes
Calls from business groups must be balanced against longer-term manpower challenges and fiscal constraints, a labour academic says
[SINGAPORE] The Republic’s upcoming Budget is unlikely to bring sweeping manpower changes, with economists and industry experts expecting targeted adjustments focused on migrant labour access, workforce transformation and support for different worker segments.
Ahead of the Feb 12 Budget statement to be delivered in Parliament, the Ministry of Finance had called for public feedback on priorities such as advancing the economy, securing good jobs and strengthening social support, with business groups flagging manpower-related cost pressures among their key concerns.
Prime Minister Lawrence Wong said in a video released on Tuesday (Jan 27) that his team has heard Singaporeans’ aspirations and concerns about an “uncertain external environment”, including the impact of technology and artificial intelligence (AI) on jobs, as well as rising cost pressures.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
