Singapore Budget 2025
Singapore Budget 2025
Prime Minister and Minister for Finance, Mr Lawrence Wong, delivered Singapore’s FY2025 Budget Statement on 18 February 2025, in Parliament.
https://www.mof.gov.sg/singaporebudget
Budget 2025 highlights: From SG60 goodies to investments for growth
Budget 2025 tackled cost pressures facing households and businesses, while laying out long-term plans to spur growth, help vulnerable segments of society and support future infrastructure. Here are nine key announcements by Finance Minister Lawrence Wong on Tuesday (Feb 18), in his first Budget speech as prime minister.
https://www.businesstimes.com.sg/singapore/budget-2025-highlights-sg60-goodies-investments-growth
https://www.straitstimes.com/singapore-budget-2025-live-pm-wong
Budget 2025: Singapore expects S$6.8 billion surplus in FY2025, contrary to economists’ deficit predictions
Singapore expects a fiscal surplus of S$6.8 billion or 0.9 per cent of gross domestic product for the 2025 financial year, despite a generous spending plan in which the government’s total expenditure will exceed operating revenue.
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894446
Budget 2025: Corporate income tax rebate, enhanced Progressive Wage Credit Scheme for businesses
The Singapore government will introduce a 50 per cent corporate income tax rebate in the year of assessment 2025, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb 18). This will support the cash flow needs of companies as they adjust to structurally higher costs, said Wong, who is also the prime minister.
https://www.channelnewsasia.com/singapore/budget-2025-corporate-income-tax-progressive-wages-4944546
https://www.zaobao.com.sg/realtime/singapore/story20250218-5893993
Budget 2025: Tax incentives to beef up equities market could have ‘limited impact’, say industry experts
Singapore will attract companies and fund managers to the local bourse with tax incentives, but industry watchers cautioned that these could have limited impact.
https://www.zaobao.com.sg/realtime/singapore/story20250218-5893743
Budget 2025: Tax Changes and Enterprise Disbursements
Budget 2025: Higher CPF contribution rates for older workers, extended Senior Employment Credit
The Singapore government will increase CPF contribution rates for those aged above 55 to 65 by 1.5 percentage points in 2026, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb 18).
https://www.channelnewsasia.com/singapore/cpf-contribution-rates-older-workers-budget-2025-4944541
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894147
Budget 2025: New workforce development grant to provide higher funding, more SkillsFuture credit for staff training
A new SkillsFuture Workforce Development Grant will provide higher funding support of up to 70 per cent for job redesign activities, said Finance Minister Lawrence Wong on Tuesday (Feb 18). The new grant will bring existing Workforce Singapore and SkillsFuture schemes together and simplify the application process for companies.
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894135
Budget 2025: Workfare Skills Support to be enhanced for lower-wage workers; IHLs to be developed
The Workfare Skills Support (WSS) scheme for lower-wage workers will be enhanced to provide workers with longer-form courses that provide more substantive reskilling and upskilling, said Finance Minister Lawrence Wong on Tuesday (Feb 18).
Budget 2025: Additional $5 billion injected into Coastal and Flood Protection Fund
Another $5 billion will be injected into the Coastal and Flood Protection Fund, which was set up in 2020 to protect Singapore against rising sea levels and enhance flood resilience.
https://www.zaobao.com.sg/realtime/singapore/story20250218-5893944
Budget 2025: Changi Airport Development Fund to get S$5 billion amid Terminal 5 plans
The Changi Airport Development Fund used to develop Singapore’s air hub will receive a top-up of S$5 billion as the airport moves to build Terminal 5, said Finance Minister Lawrence Wong on Tuesday (Feb 18).
Budget 2025: Government to pay ‘close attention’ to public housing as HDB launches over 50,000 new flats over next three years
The government will continue to pay close attention to public housing, following its moves to ramp up its Build-to-Order (BTO) supply over the next few years, said Finance Minister Lawrence Wong on Tuesday (Feb 18).
https://www.zaobao.com.sg/realtime/singapore/story20250218-5893977
Budget 2025: Eligible families in rental flats to get higher grant of $75,000 for BTO purchase
Families with children living in rental flats will get a higher grant when they buy a two-room flexi or three-room Build-To-Order (BTO) flat, while eligible families who are first-time home buyers will be allowed to purchase shorter-lease flats.
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894851
Budget 2025: S$300 monthly allowance for mid-career workers taking up part-time courses
A SkillsFuture initiative that provides an allowance to mid-career workers aged 40 and above taking up training courses will be expanded to include part-time programmes.
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894055
Budget 2025: Up to S$800 in SG60 vouchers; 60% income tax rebate
The Singapore government will give SG60 Vouchers to all Singaporeans aged 21 and above, as part of a package in celebration of Singapore’s 60th birthday, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb 18).
https://www.businesstimes.com.sg/singapore/budget-2025-s800-sg60-vouchers-60-income-tax-rebate
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894075
Budget 2025: All Singaporean households to get $800 in CDC vouchers
The government will continue to provide additional support to Singaporeans as part of Budget 2025, said Finance Minister Lawrence Wong on Tuesday (Feb 18). Every Singaporean household will receive S$800 in Community Development Council (CDC) vouchers. The first tranche of S$500 in vouchers will be disbursed in May this year, while the remaining S$300 in vouchers will be disbursed in January 2026.
https://www.straitstimes.com/singapore/budget-2025-each-sporean-household-to-get-800-in-cdc-vouchers
https://www.zaobao.com.sg/realtime/singapore/story20250218-5893938
Budget 2025: More Climate Vouchers for HDB households, Singaporeans in private properties
The Singapore government will issue an additional S$100 in Climate Vouchers to Housing and Development Board (HDB) households to boost individual sustainability efforts, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb 18).
https://www.zaobao.com.sg/realtime/singapore/story20250218-5894329
Global Economy & Real Estate
Trump says US auto tariffs to be around 25%
https://www.businesstimes.com.sg/international/trump-says-us-auto-tariffs-be-around-25
Trump ‘more confident’ of Ukraine deal after talks
https://www.businesstimes.com.sg/international/trump-more-confident-ukraine-deal-after-talks
Aussie “Big Four” banks cut rates, mirroring central bank
Australia wage growth slows to 3.2% y/y in Q4
https://www.businesstimes.com.sg/international/australia-wage-growth-slows-3-2-yy-q4
Blackstone extends US$1.3 billion loan on Chicago’s Willis Tower
China condemns US ‘tariff shocks’ at WTO
https://www.straitstimes.com/world/europe/china-condemns-us-tariff-shocks-at-wto
Developer Greentown China plans additional dollar bonds to refinance debt
Wait for Hong Kong public rental flats drops to 5.3 years, lowest since 2018
Editorial | Hong Kong website helps hunt for property in Greater Bay Area
New World proposes additional US$3.8b for loan collateral
https://www.businesstimes.com.sg/property/new-world-proposes-additional-us3-8b-loan-collateral
BOJ may raise rates twice more this year, underpin yen, says ex-FX diplomat Watanabe
Japan’s exports rise 7.2% y/y in January
https://www.businesstimes.com.sg/international/japans-exports-rise-7-2-yy-january
New York City’s 590 Madison goes up for sale at roughly US$1.1 billion
https://www.businesstimes.com.sg/property/new-york-citys-590-madison-goes-sale-roughly-us1-1-billion
Thailand’s central bank and government must work together, PM says
Tourism bounce helps Thai banks trim bad loans from three-year high
UK pay growth holds at lowest level since 2021: Brightmine
https://www.businesstimes.com.sg/international/uk-pay-growth-holds-lowest-level-2021-brightmine
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