In a landmark Budget speech delivered on February 18, Prime Minister Lawrence Wong announced an exciting array of initiatives dubbed the SG60 goodies, aimed at celebrating Singapore’s 60th anniversary of independence.
Unveiling Budget 2025 on Tuesday, Prime Minister Lawrence Wong declared it “a budget for all Singaporeans.”
“Every Singaporean is supported from birth to old age, with more support given to those with less. No one is left behind” he added.
Despite the increasing uncertainty facing the world, Prime Minister Lawrence Wong stated on Tuesday (Feb 18) that Singapore can take confidence from its history of overcoming similar challenges over the past 60 years.
In this context, he presented his fourth Budget statement, which is also his first as prime minister, outlining measures aimed at tackling immediate issues while laying the groundwork for enhanced resilience in the future.
Mr. Wong highlighted that the variety of initiatives, including cash vouchers for families and support for businesses, will offer assistance to all Singaporeans.
“The prime minister said, ‘No one is left behind.'”
Here are 10 highlights from the announcement of the SG60 goodies in Prime Minister Lawrence Wong’s Budget speech:
SG60 Vouchers: All Singaporeans aged 21 and above will receive one-off SG60 vouchers worth $800 for seniors (60 and above) and $600 for younger adults, available from July 2025.
Personal Income Tax Rebate: A 60% tax rebate, capped at $200 per taxpayer, will be granted to all resident taxpayers for the 2025 Year of Assessment, with automatic adjustments made to tax bills.
SG60 Baby Gift: Special gift packages will be provided for Singaporean babies born in 2025, with further details to be released in March.
Hawker Rental Support: One-off rental support of $600 will be provided for hawker centre and market stallholders to recognize their cultural significance.
SG Culture Pass: Singaporeans aged 18 and above will receive $100 in credits for eligible local performances and cultural experiences, valid from September 2025 to December 2028.
ActiveSG Credit Top-Up: A one-off $100 credit top-up for existing ActiveSG members and $200 for new members will encourage sports participation, available in June.
Self-Help Groups Grants: An additional $60 million in grants over five years will support self-help groups, enhancing their community programs and support services.
Philanthropy Encouragement Measures: Donations in 2025 to eligible social and community programmes will be matched dollar-for-dollar, with additional incentives for larger donations.
Cultural Matching Fund Extension: A $100 million top-up to the Cultural Matching Fund will provide dollar-for-dollar matching for cash donations to arts and heritage charities, extended until 2029.
Enhanced Fund-Raising Program: A $270 million top-up to the Tote Board’s fund-raising programme will continue to provide matching support for local charitable causes until 2027.
Among the highlights of the SG60 goodies is the introduction of one-off SG60 vouchers.
Eligible Singaporeans aged 21 and above will receive $800 if they are 60 years or older in 2025, and $600 for those aged between 21 to 59. The vouchers will be available for claim starting in July, with seniors given priority. Citizens can retrieve their vouchers digitally through RedeemSG via Singpass or seek assistance at community centres.
In another significant move, all resident taxpayers can look forward to a personal income tax rebate of 60% on their tax payable for the 2025 Year of Assessment, capped at $200. This rebate aims to provide relief, particularly for middle-income earners, and will be automatically reflected in tax bills issued between April and September.
Additionally, Singaporean babies born in 2025 will receive a unique SG60 baby gift package, with further details to be announced in early March.
To support the nation’s vibrant hawker culture, the government will provide a one-off rental support of $600 to hawker centre and market stallholders. This measure acknowledges the essential role these establishments play in Singapore’s cultural identity and heritage.
Catering to the arts and cultural scene, the SG Culture Pass will offer Singaporeans aged 18 and above $100 in credits. These credits can be used to purchase tickets for local performances, exhibitions, and experiences, with a validity period from September 1, 2025, to December 31, 2028. More information will be released by the Ministry of Culture, Community and Youth.
Furthermore, to promote an active lifestyle, Singapore citizens and permanent residents who sign up as ActiveSG members will receive a one-off $100 credit top-up. Existing members will benefit from an additional $100, while new members will receive a total of $200 in credits. This initiative aims to encourage greater participation in sports and physical activities.
One of the key initiatives introduced is the new Large Families Scheme, designed to assist married couples who have or plan to have three or more children. Under this scheme, parents will receive up to S$16,000 in additional support for each third and subsequent Singaporean child born from today. The support package includes:
- A S$5,000 Large Family MediSave Grant, credited directly to the mother’s account.
- LifeSG credits amounting to S$1,000 per year for children aged one to six, totaling S$6,000 over six years.
- An S$5,000 increase in the First Step Grant to the Child Development Account.
This initiative also extends to parents who have remarried and are caring for three or more children from previous or current marriages.
In addition to the Large Families Scheme, the budget outlines several one-off support measures for families with children. Families will receive S$500 in Child LifeSG credits for each child aged 12 and below this year. Furthermore, Singaporean children aged 13 to 16 will benefit from S$500 top-ups to their Edusave accounts, while those aged 17 to 20 will receive an additional S$500 in their Post-Secondary Education accounts.
A significant reduction in preschool fees is also part of the budget’s provisions. Monthly childcare fees at anchor operator preschools will be capped at S$610, down from S$640, while partner operator preschools will see fees capped at S$650, reduced from S$680.
After subsidies, dual-income families can expect to pay around S$300 per child, with lower- and middle-income families benefiting from further subsidies.
As part of the government’s commitment to sustainability, families residing in public housing will receive an additional S$100 in Climate Vouchers, supplementing the S$300 received last year.
Those living in private properties will receive S$400 in vouchers, which can be used to purchase energy-efficient and water-saving household products.
The budget notably enhances support for lower-income households. The Fresh Start Housing Scheme will be improved, allowing second-time families with children living in public rental flats to access S$75,000 in grants for new standard two-room Flexi or standard three-room flats, up from the previous S$50,000. Second-time families are defined as those who have previously benefited from a housing subsidy.
Furthermore, ComCare Assistance scheme payouts are set to increase, providing additional financial relief for those in need. For instance, a one-person household on long-term assistance will see its monthly cash assistance rise by S$120, bringing the total to S$760.
Image via Youtube
- Couple Sentenced to Jail for Livestreaming Obscene Acts in Public
- Malaysian National Jailed for Installing Pinhole Camera in Disabled Toilet
- Everything You Need To Know About Singapore Budget 2025
- Pritam Singh Fined for Lying to Committee of Privileges, Plans to Appeal
- New Speeding Penalties to Take Effect in 2026, Warns Minister K Shanmugam
