More CDC Vouchers.
Although inflation in Singapore has been falling faster than in many other places, Singaporeans are still feeling the pinch of rising prices.
Prime Minister and Finance Minister Lawrence Wong has reassured the public that the Government remains committed to supporting them through these challenges.
Starting Tuesday (May 13), all Singaporean households will receive $500 worth of CDC (Community Development Council) vouchers. Half of the vouchers can be used at hawker centres and heartland shops, while the remaining $250 can be spent at participating supermarkets. The vouchers will be valid until December 31, 2025.
PM Wong launched the new round of CDC vouchers during a visit to Yishun South Community Club on Tuesday morning. In his speech, he acknowledged that while inflation is easing, prices are still high and people continue to feel the impact.
“That’s why we’re rolling out this new $500 CDC voucher scheme today to help Singaporeans cope,” he said.
Back in February, PM Wong announced during the Budget that the Government would distribute a total of $800 in CDC vouchers to each Singaporean household this financial year. The first $500 is being distributed now, while the remaining $300 will be given out in January next year. This initiative is part of the Assurance Package and will benefit around 1.3 million households.
PM Wong also addressed concerns that such support measures may only be temporary.
“Rest assured, this is not a one-off. We will continue to step in and provide help when needed,” he said.
He added that the Government will also keep reviewing and strengthening Singapore’s social safety nets — including housing, healthcare, and retirement schemes — to provide more support for Singaporeans at different stages of life.
On whether it’s sustainable to keep giving out vouchers, PM Wong said: “It’s a good and important question. We must ensure that our spending remains fiscally sustainable in the long run. That has always been our approach — to balance spending for citizens’ benefit while keeping our finances sound.”
He recalled how, a decade ago, the Government took the difficult but necessary step to raise taxes when spending needs rose. “It was not a popular move, but it was the right and responsible thing to do,” he said.
“Because of that, today we have strong reserves to protect Singaporeans and guide us through the storms ahead. That is what a good and responsible government does.”
