Analysts expect moves to strengthen safety nets, support families at NDR

They say PM Wong will also likely lay out his vision for S’pore’s future at his first rally

- Goh Yan Han

Tackling the higher cost of living and giving families more support will be on the cards for the National Day Rally (NDR) 2024, among other moves to strengthen social support and safety nets here, analysts predicted.

Prime Minister Lawrence Wong's first NDR on Aug 18 will be a good platform to announce these moves while laying out his vision for Singapore in the decades to come, they said.

He has already given a preview of what to expect in his National Day message. In it, he spoke of helping workers seize new opportunities, keeping the cost of living stable, enhancing support for families and further strengthening social safety nets.

PM Wong, who took over in May as Singapore's fourth head of government, had also warned of a dramatically changing world in his message, noting that the country would have to seek fresh solutions to build a better Singapore.

He will be delivering his rally in Malay, Mandarin and English. The Malay speech will start at 6.45pm, and will be followed by the Mandarin speech. PM Wong's English speech is scheduled to start at 8pm. All three will be livestreamed on The Straits Times' website and YouTube channel.

Ways to strengthen social safety nets could include supporting the ageing population and addressing evergreen concerns about retirement adequacy, OCBC Bank's chief economist Selena Ling said.