PM: Govt looking into cost-of-living concerns, taking better care of seniors

More help for larger families, needs of sandwiched group being explored

- Wong Pei Ting

Tackling cost-of-living concerns and taking better care of seniors are two key areas of focus for the Government, said Prime Minister Lawrence Wong on Aug 23.

In a press conference five days after his maiden National Day Rally speech, PM Wong said he is looking into longer-term care for seniors and their housing needs. This is a big issue that will continue to grow as more people age, he noted while outlining what Singaporeans can expect in the months ahead.

Besides helping older seniors in their 70s or 80s, there will also be support for their children - younger seniors who are entering or in their 50s and feel "sandwiched" with both ageing parents and children to look after, he said.

On cost-of-living concerns, PM Wong said his Government is looking at doling out more help to specific segments of the population, including those with larger families and more young children, where "costs add up quite quickly".

Such additional support will add to broad-based schemes such as CDC vouchers, and cost-of-living payouts and U-Save rebates that target the lower- and middle-income groups.

During the press conference at the National Press Centre in Hill Street PM Wong's first after he took office as Singapore's fourth prime minister on May 15 - he said there are different aspects to the cost-of-living issue, which is a major concern.

There are day-to-day expenses such as groceries, food and daily essentials, as well as big-ticket items like housing, he noted.

Asked if the Government will provide more CDC vouchers, given that the $300 in vouchers to be disbursed in January 2025 is less than the $800 given to each Singaporean household in 2024, PM Wong replied: "We haven't had the 2025 Budget yet. That's next year."

PM Wong, who is also Finance Minister, added: "So whether or not there will be more CDC vouchers, I think everyone should just wait and see what is in the Budget announcement."