Amidst a troubled international environment and a subdued global economy, the Deputy Prime Minister and Finance Minister Lawrence Wong announced on Friday (Feb 16) that Budget 2024 is about helping Singapore ans with their cost-of-living concerns . In his two-hour speech, Wong started off saying that the past year has not been easy, and Singapore 's economy grew by a modest 1.1 per cent and avoided a recession.
Hence Budget 2024 is "about taking concrete steps to build our shared future together" he added, pointing out that the government has managed to enhance its assistance measures due to the “unexpected revenue” from Singapore’s strong rebound after Covid-19. Some Singaporeans will get a "cost-of-living special payment" of between $200 and $400. This is for eligible citizens aged 21 and above in 2024 who are living in Singapore, who do not own more than one property and with an assessable income of up to $100,000. This is part of the $1.9 billion enhancement to Assurance Package, which was introduced in 2020 to cushion the GST increase
Source: News Formal (newsformal.com)
Singapore Budget 2024 Cost-Of-Living Concerns Lawrence Wong Special Payment Assurance Package
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