Budget 2022 Singapore: Empowering Singaporeans, Securing Our Future

A Comprehensive Breakdown of Key Initiatives

Introduction

Singapore's Budget 2022, unveiled on February 18, 2022, represents a significant commitment towards supporting the nation's economic recovery and securing the well-being of its citizens. With an ambitious budget of S$104.6 billion, the government has outlined a comprehensive suite of measures designed to empower Singaporeans and safeguard the country's future.

Key Initiatives

Empowering Singaporeans

• Workfare Special Payment (WSP): Enhanced payments for low- and middle-income workers, benefiting over 500,000 individuals with an estimated S$537 million allocation.
• Progressive Wage Model (PWM): Extension to new sectors, such as cleaning and waste management, to uplift wages for lower-income workers.
• SkillsFuture Credit (SFC): Top-ups of S$250 for all Singaporeans aged 25 and up, enabling them to enhance their skills and employability.
• Community Health Assist Scheme (CHAS): Increased subsidies for outpatient medical expenses, benefiting about 1.3 million Singaporean households.

Securing Our Future

• Green Plan 2030: S$1.5 billion investment to accelerate Singapore's transition to a green economy and reduce carbon emissions.
• Research, Innovation, and Enterprise 2025 (RIE2025): S$25 billion allocation to support innovation and enterprise development, driving economic growth.
• National Jobs Council (NJC): Extension and expansion of the NJC to enhance job matching and support for jobseekers.
• Smart Nation and Digital Economy: S$350 million dedicated to enhancing digital infrastructure and capabilities.

Tables

Table 1: Key Budget Allocations

Table 2: Empowerment Initiatives

Table 3: Future-Securing Initiatives

Table 4: Economic Forecast

Conclusion

Budget 2022 Singapore represents a bold and forward-looking roadmap for the nation. By empowering Singaporeans and securing the country's future, this budget sets the stage for a more inclusive, resilient, and sustainable Singapore.