SINGAPORE: Singapore’s Parliament has approved a record S$143 billion (US$107.5 billion) Budget for the financial year 2025 — the largest in the current government’s term — following nine days of debate.
The milestone Budget comes ahead of a General Election that must be held by November, prompting speculation from the public about its political timing and intent.
Leader of the House Indranee Rajah, in her customary closing speech on Monday (10 March), described the past five years as a “rollercoaster” for the government, marked by the COVID-19 pandemic, global conflicts, inflationary pressures, and structural challenges such as maintaining competitiveness and strengthening Singapore’s social compact.
Indranee emphasised that the Budgets from 2021 to 2025, along with four emergency Budgets passed in 2020 under the previous term, were instrumental in helping Singapore navigate these uncertain times.
“The Budgets have steadfastly steered Singapore through uncharted and choppy waters with decisiveness, agility and forward planning,” she said.
She highlighted the intense scrutiny during the Committee of Supply (COS) debates, where ministers’ budgets were examined in detail.
On average, more than 600 cuts—short speeches requesting changes or clarifications—were filed per COS session, with debates lasting an average of seven hours and 45 minutes per sitting day. She noted that this marked the highest volume of cuts and longest debate durations in any parliamentary term so far.
Looking ahead to Singapore’s 60th year of independence in 2025, Indranee said the nation could take “quiet pride” in how far it has come, crediting generations of Singaporeans and long-term government planning.
Among the achievements she cited were Singapore’s status as the world’s most innovative country in a biennial ranking of 74 nations, one of the most powerful passports globally, and a Gini coefficient—after government taxes and transfers—at its lowest level in 20 years.
The country also continues to perform strongly in areas such as home ownership, student assessments (PISA scores), and healthy life expectancy.
“These successes were not achieved by accident or luck, but through careful long-term planning and the trust and cooperation between Singaporeans and the government,” she said.
Speaker of Parliament Seah Kian Peng also delivered a closing speech, praising Members of Parliament for a “robust and meaningful debate,” with 61 MPs filing 600 cuts this year.
“Being succinct is a virtue. Clarity and focus ensure that discussions are effective and engaging,” he said.
“Parliament is at its best when we articulate our views clearly, when we have done our homework, and when we debate with facts and reason. Importantly, regardless of our political strives, we must uphold mutual respect because respect is the foundation on which meaningful discourse is built.”
General Election Strategy?
Under CNA’s Facebook post, netizens reacted strongly to the record Budget, with many questioning whether its timing was politically motivated ahead of the upcoming General Election.
One user asked if the S$143 billion Budget was driven more by Singapore’s 60th anniversary or the General Election.
Another suggested this was not a national Budget but an election one, calling it a “GE Budget 2025” and describing it as part of a “familiar PAP pattern” during elections.
One user remarked that the announcement seemed predictable, “Election coming lah… give some carrots, win many votes — after that, sure can get back what was given, plus interest.”
One user commented, “Of course, when the election is near, PAP needs to buy votes. After the election, it’s payback — then the people will suffer more.”
Some also took issue with what they perceived as self-praise remarks from the government.
Referring to Indranee’s comment that the Budget had “steadfastly steered SG through uncharted and choppy waters with decisiveness, agility and forward planning,” one user questioned the confidence behind such statements.
“How she know it would be one that successfully steer SG to calmer waters? Self-praise also have to wait for the results lah.”
Another added sarcastically, “I’m just surprised that they don’t get dislocated shoulders for patting themselves on the back so often.”
The Cost of Living Reality
Beyond political timing, many users expressed frustration that despite the announcement of the biggest Budget, the everyday struggles of Singaporeans remained unresolved.
Several pointed out that the scale of the Budget had little impact on the ground, as rising prices and taxes continued to weigh heavily on the public.
One user remarked, “Biggest budget means biggest spending, biggest taxes, and biggest burden on the people. Nothing to be proud of.”
Another questioned whether the Budget reflected a lack of fresh ideas to drive the economy.
“So buying voters’ confidence through money, but it’s our reserves they are using? Then will raise taxes, GST, ERP, COE, utilities, fines to pay their million-dollar wages?”
One user criticised the fiscal direction entirely, suggesting that the policy seemed more focused on benefiting ministers than the general population.
Another highlighted the disconnect between spending and outcomes, noting that even with the biggest Budget, people still didn’t receive free education, transportation, or healthcare.
They questioned, “Then what is the money used for?” and pointed out that nothing is given: “We still end up paying high prices for almost everything — cars, housing, food, daily living.”
One user labelled Budget 2025 not just the biggest, but “the most irresponsible,” criticising the government for failing to address core issues such as the Goods and Services Tax.
“The government could simply help reduce everybody’s living expenses by cutting GST. But that won’t be done, will it?”
Another pointed out a disconnect between the government and the public, noting that those in power don’t feel the same pain because they are well-paid and live in ivory towers.
“What do they know about the pain of the common people?” the user asked, adding that while the government claims to empathise, costs keep going up.
They criticised the government for lacking the courage to bring prices down, saying the only solution seems to be handing out vouchers in exchange for votes.
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