Question

Mr Xie Yao Quan: To ask the Deputy Prime Minister and Minister for Trade and Industry (a) what is the Government's response to findings by researchers from the Lee Kuan Yew School of Public Policy that Singapore is the most expensive city in Asia for both locals and expatriates; and (b) what are the Government's plans to continue helping Singaporeans to cope with the costs of living.

Oral Answer (to be attributed to Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong)

1. The study conducted by the Asia Competitiveness Institute (ACI) at the Lee Kuan Yew School of Public Policy analysed the cost of living for 45 cities globally. Singapore was ranked as the 4th highest for expatriates and the 28th highest for residents.

2. The study was based on data up to the first quarter of 2025. Since then, Singapore’s core inflation has moderated, coming in at 0.3% year-on-year in August compared to an average of 0.6% year-on-year in the first quarter of 2025 and 2.8% in 2024.

3. To help Singaporean households cope with cost of living, the Government has rolled out several measures. For instance, in Budget 2025, we introduced additional support measures such as $800 in Community Development Council (CDC) Vouchers for all Singaporean households, and more U-Save rebates for eligible Housing and Development Board (HDB) households to cope with their utilities expenses. The Government also introduced the one-off SG60 Package, which includes $600 in SG60 Vouchers for all Singaporean adults and $800 for seniors.

4. Beyond transitory cost-of-living support, the Government has strengthened our social support in housing, healthcare, education, and retirement to provide Singaporeans with assurance at every stage of life. We have also introduced measures to improve the career health and employability of Singaporeans who wish to work. We will continue to monitor Singaporeans’ cost of living closely and provide additional support where necessary.