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OUTLOOK 2025

Singapore’s ‘election Budget’ expected to tackle cost of living with generous handouts

Budget 2025 may place greater emphasis on ‘near-term benefits’

Sharon See

Sharon See

Published Mon, Dec 30, 2024 · 05:00 AM
    • Higher-than-expected tax collection in FY2024 so far has put government finances in a “good position”, says Maybank economist Brian Lee.
    • Higher-than-expected tax collection in FY2024 so far has put government finances in a “good position”, says Maybank economist Brian Lee. PHOTO: YEN MENG JIIN, BT

    AS THE last Budget before Singapore’s next general election (GE), Budget 2025 could tip towards addressing immediate challenges such as the cost of living, said political watchers.

    The speech on Feb 18 may thus include generous handouts and social transfers, though the government will still address long-term challenges such as economic transformation, they added.

    The next GE, to be held by Nov 23, 2025, will be the first in which Prime Minister Lawrence Wong leads the ruling People’s Action Party.

    Singapore Budget 2025Singapore economyOutlook 2025

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