More CDC vouchers, utility rebates and cash payouts to help Singaporeans with cost of living: PM Wong

Singaporeans can look forward to more payouts to tackle cost-of-living concerns in the coming months, Prime Minister Lawrence Wong has said on Wednesday (Oct 2).

In a video shared on his YouTube channel, PM Wong, who is also the finance minister, said that more help will be given to households to offset their utility bills, and up to $600 in cash payouts for every Singaporean.

There will also be another $300 in Community Development Council (CDC) vouchers for every household that will be disbursed in January 2025.

These measures to cushion the impact of cost of living increases are part of the government-introduced Assurance Package, which has been enhanced three times since 2022, bringing its total to over $10 billion.

So far this year, every Singaporean household was given $800 in CDC vouchers, and those living in public housing have received up to $400 in utilities rebates.

Eligible Singapore citizens have also received up to $700 in cash payouts.

[embed]https://www.youtube.com/watch?v=PGljOPdy_N0[/embed]

Acknowledging that cost of living remains a concern for many Singaporeans, PM Wong said that price increases in goods and services will still go up even though inflation in Singapore has been moderating and is expected to come down further this year.

Such price adjustments have to be done "from time to time" as a delay will only "make the pain worse in the future," he added.

"My team and I will do everything we can to help you get through this difficult period," he added.

Giving his economic forecast, PM Wong said Singapore can expect a "favourable outlook" this year with higher economic growth and lower inflation.

More workers should experience increases in their real incomes, he added.

The prime minister said that the government will be monitoring how the country's economic conditions will unfold next year, and expects inflation to continue easing to lower levels before the Covid-19 pandemic.

"We will also continue to push for productivity and innovation across our economy," said PM Wong. "I will share more about our plans in the Budget next year."

READ ALSO: AsiaOne exclusive: How Singaporeans are coping with the rising cost of living

chingshijie@asiaone.com