An election Budget? Maybe not in the way you think

There is little doubt Budget 2025 is an election Budget.

- Tham Yuen-C

After all, we are in an election year, with the constitutional deadline to go to the polls in November.

Of course, Budgets are dubbed election Budgets not just because they happen to fall in an election year.

The phrase is bandied about whenever there are goodies galore, and Prime Minister Lawrence Wong on Feb 18 unveiled a bonanza of vouchers, credits, tax rebates and top-ups for Singaporeans.

To celebrate Singapore's 60th year of independence, he introduced an SG60 package to recognise the contributions of all Singaporeans and to share the benefits of the nation's progress.

Under the package's headline measure, every Singaporean adult will get $600 worth of SG60 vouchers, with seniors aged 60 and older getting $200 more.

Every Singaporean household will get an additional $800 in CDC vouchers to provide relief from rising cost pressures, as Singaporeans adjust to the new price realities caused by the sharp rise in global inflation when the war in Ukraine broke out.

"We will continue to provide support for as long as needed, within our means," PM Wong said, adding that inflation in Singapore has already come down and is expected to ease further.

These two voucher schemes alone will cost the Government about $3 billion.

In addition, there will be a 60 per cent personal income tax rebate capped at $200 for Year of Assessment 2025, designed to benefit those who earn less, as well as SG Culture Pass credits and ActiveSG credits for people to pay for cultural and sporting pursuits.