What’s in Budget 2025 for you? Prime Minister Lawrence Wong has delivered this year’s Budget statement in Parliament today. Here are the highlights, in case you missed out on the key announcements.
Budget 2025 is one for all Singaporeans: PM Wong
It will address current challenges like cost pressures, and also builds on previous Budgets to secure S’pore’s future, he added.
$600 SG60 vouchers for S’poreans aged 21 to 59; $800 for those aged 60 and above
Each Singaporean household to get $800 in CDC vouchers
Other support measures include more U-Save rebates, $500 LifeSG credits and top-ups to Edusave accounts.
Singaporean households in private properties can get $400 in climate vouchers
HDB households to get extra $100 in vouchers in expansion of Climate Friendly Households programme.
Corporate tax rebate, enhanced wage support to cut costs for businesses
The tax rebate applies to every active company that employed at least one local employee last year.
More financial support for large families with 3 or more young children
They will get up to $16,000 in additional support for each third and subsequent child born on or after Feb 18.
Support boost to help employers hold on to older workers
Wage offsets for employers who hire seniors, ex-offenders and persons with disabilities will be extended.
$300 monthly allowance for workers on part-time training; SUSS to have new city campus
S’pore companies to receive more funding support to train workers
Eligible companies will receive a fresh $10,000 credit as part of efforts to train workers.
$5b added to fund for airport expansion projects, including Changi Airport T5
Construction on the mega airport terminal will start in the coming months.