Singapore's Rising Gini Coefficient and Help for Those Affected

Mr Zhulkarnain Abdul Rahim asked the Prime Minister and Minister for Finance with regard to the UBS Global Wealth Report 2024 which reported Singapore’s Gini coefficient index as being up to 70% in 2023 (a) what are the factors that have contributed to the increase despite the Government’s various measures and subsidies, when most other parts of Asia have moderate increases or reductions in their Gini coefficients; and (b) which segments of Singapore’s population have faced wealth stagnation and what more can be done to uplift these affected segments.

This question has been answered in the reply to the Parliamentary Question filed by Mr Yip Hon Weng for the Sitting on 14 October 2024. [Please refer to "Additional Measures to Address Rising Wealth Inequality in Singapore", Official Report, 14 October 2024, Vol 95, Issue 142, Written Answers to Questions section.]