Singapore’s 2023 Budget aims to address short and long-term challenges for individuals, households and businesses in the country. To tackle the high cost of living, the government is providing cash support under a range of schemes including the enhanced GST voucher scheme, cash assistance for those with an annual home value of less than S$21,000, and a cost of living special payment for eligible Singaporeans. To support businesses, the government is offering tax deductions for research and development and employee training, and financing schemes for companies, among other measures. These initiatives are part of a larger plan to ensure income mobility and equality, and support family planning across Singapore.
