Economy & business

Fadli Fawzi raised concerns about additional subsidies and financial support for senior households living in HDB flats, especially those on fixed or low incomes, to alleviate their cost burdens. Jeffrey Siow, the Senior Minister of State for Finance, highlighted existing support measures such as the Lease Buyback Scheme, which offers cash bonuses and subsidies for senior-friendly home modifications. He noted that the Government provides ongoing cost-of-living support through various schemes and has enhanced quarterly Silver Support payments for low-income seniors. Fadli pointed out the low take-up rate of the Lease Buyback Scheme and asked if it indicated a rejection of monetization by seniors, suggesting that the government should find ways to further support this demographic in maintaining their homes. Siow acknowledged the ongoing concerns about living costs and affirmed that the government will continue to encourage seniors to use available monetization options while exploring additional support measures.

Nadia Ahmad Samdin asked about the benefits for Singaporeans and opportunities for Singapore businesses from the Strategic Food Partnership (SFP) with New Zealand, launched in October 2025. Minister Grace Fu highlighted that the SFP aims to enhance food cooperation through trade, supply chains, and biosecurity, ensuring a steady supply of essential goods during disruptions. The partnership includes exploring regionalization arrangements for animal diseases to minimize trade disruptions and facilitate food trade between the two countries. Samdin requested further details on global partnerships and potential collaborations, to which Fu suggested a more in-depth discussion during the upcoming Committee of Supply debate.

Shawn Loh asked the Minister for Manpower about the delay in implementing the CPF Lifetime Retirement Investment Scheme, highlighting that a typical investment portfolio had performed well. The Minister, Dr. Tan See Leng, stated that they are concluding their studies on how to provide support for CPF members' retirement planning while balancing risk and return. Loh emphasized the need for financial literacy initiatives to help CPF members utilize their savings better. Dr. Tan confirmed that education efforts will accompany the rollout of any new products and acknowledged the necessity of careful consideration regarding market impacts before implementation. Assoc Prof Jamus Lim suggested the possibility of a product focused on local equities to help the Singapore Exchange.

Yeo Wan Ling raised concerns about the regulation of large rental car fleets due to their impact on private-hire drivers' livelihoods in cases of financial distress. Sun Xueling acknowledged the plight of drivers and noted that the Land Transport Authority (LTA) worked with relevant associations to support affected drivers after the Autobahn business failure but cautioned that regulation might increase costs for drivers and passengers. Yeo emphasized the need for better awareness among drivers regarding their rental agreements and suggested that contractual literacy should be included in vocational licensing curriculum. Sun stated that the LTA would set up a workgroup to address these educational needs and assist drivers in understanding their rights. Ng Chee Meng highlighted concerns about drivers losing deposits and suggested measures to safeguard these funds, while Sun reiterated the importance of providing new earning opportunities for affected drivers.

Patrick Tay Teck Guan raised concerns about involuntary non-time-based underemployment for fresh graduates and junior professionals amid changes in job mobility and hiring sentiments. Tan See Leng responded that the Ministry of Manpower is studying underemployment trends and has found that the incidence remains low and stable compared to other developed economies. The Ministry is enhancing career matching services, providing tools like the Singapore Opportunity Index, and offering support through Workforce Singapore for industry-specific advice. Initiatives such as Graduate Industry Traineeships aim to bridge experience gaps for graduates, while employers are encouraged to redesign jobs to better utilize employee skills. Continuing efforts aim to maximize workforce potential and minimize underemployment within the context of an ongoing Economic Strategy Review.

Shawn Loh asked about the expected growth of the CPF Basic Retirement Sum (BRS) beyond 2027 and whether it could be announced five years in advance for better planning. Tan See Leng explained that the BRS provides monthly payouts for basic retirement expenses and is regularly reviewed considering retiree household expenditure, inflation, and living standards. The BRS has been announced in advance for members turning 55 from 2023 to 2027, and the Government will similarly announce any changes for those turning 55 after 2027 with sufficient notice.

Kenneth Tiong Boon Kiat raised concerns about whether the transition from means-tested co-payments in the Community Health Assist Scheme to the capitation model under Healthier SG indicates a shift away from shared responsibility in healthcare financing. Ong Ye Kung explained that preventive care services under Healthier SG are fully subsidized to promote their uptake, while other healthcare services remain means-tested with co-payments to maintain discipline in healthcare usage. He emphasized that this approach aims to prevent unnecessary healthcare consumption and ensure long-term fiscal sustainability of the healthcare system.

Joan Pereira asked about the availability and costs of post-natal care services at public and private hospitals and whether MediSave can be used for postpartum care, especially in cases of complications. Ong Ye Kung responded that MediSave currently covers pre-delivery and delivery expenses under the MediSave Maternity Package, and additional coverage is provided through MediShield Life for mothers with post-delivery complications. The Ministry of Health does not track the costs of additional outpatient post-natal services, which vary in nature. Ong mentioned the need to balance MediSave adequacy with Central Provident Fund contributions and noted that financial assistance options like MediFund are available for those facing difficulties with post-natal medical care. The Ministry will continue to review financing schemes to maintain affordability for maternity services.

Gerald Giam Yean Song questioned the Ministry of Defence regarding the assessment of Singapore's defence ecosystem's ability to adapt to emerging demands, the percentage increase in defence export value over the last five years, and any local industry expansions in manufacturing and research capacity. Chan Chun Sing responded that the Ministry regularly reviews operational needs and develops solutions based on global conflicts while maintaining discretion regarding capabilities. He noted collaboration with local defence companies to create tailored solutions and acknowledged that some local firms have successfully developed products for international markets, though specific commercial details were not disclosed.

Hamid Razak asked about the possibility of a policy framework for GST relief on essential medications for patients with rare or complex conditions facing high out-of-pocket costs. Ong Ye Kung responded that the Government already absorbs GST for medical services and medications for subsidized patients at public hospitals, polyclinics, and care institutions.

Kenneth Tiong Boon Kiat questioned the Government about reviewing Temasek's risk-return framework to include strategic ecosystem building, assessing the impact of reduced early-stage local investments on Singapore's industry growth, and the possibility of alternative capital support mechanisms to address any gaps. Jeffrey Siow referenced a previous reply covering these points in detail, linked to a report scheduled for discussion on January 12, 2026.

Gerald Giam Yean Song asked if there would be an increase in Public Transport Vouchers to assist lower-income households with recent fare hikes and whether the government plans to maintain its previous goal of covering six months of fare increases. Jeffrey Siow confirmed that the voucher amount increased to $60 in 2024, mentioning that six months is a guideline rather than a limit. He also stated that households needing extra support can appeal for additional vouchers through online or community channels.

Dr. Choo Pei Ling questioned the Minister for National Development about HDB's mechanisms for monitoring food prices in rental coffee shops under its Price-Quality Method tender framework and whether there have been interventions due to affordability concerns. Chee Hong Tat responded that HDB conducts regular surveys on food prices but does not directly regulate them, instead focusing on providing a sufficient number of coffee shops to ensure diverse food options. He mentioned enhancements to the budget meal initiative to support operators in offering affordable meals, including specific meal options, while noting that nutritional requirements are generally not imposed.

Dennis Tan Lip Fong asked about consumer recourse for unfair practices related to blind box or gacha mechanisms and how the Ministry plans to educate consumers on these avenues. Gan Kim Yong responded that while blind box purchases do not guarantee specific items and are not prohibited under the Consumer Protection (Fair Trading) Act 2003, businesses cannot make false claims about product odds. Consumers can seek assistance from the Consumers Association of Singapore (CASE), which can mediate disputes or refer serious cases to the Competition and Consumer Commission of Singapore (CCS). Both CASE and CCS conduct outreach to educate consumers about their rights and redress options.

He Ting Ru raised concerns about the shortfall in Town Council grant disbursements from FY2011 to FY2024, asking about the circumstances of the error and measures to prevent future occurrences. Chee Hong Tat explained that the shortfall was identified by the HDB during an internal review facilitated by the transition to digital reporting, which allowed for improved audits of the grant calculations. To avoid future discrepancies, HDB has strengthened its grant computation process with additional checks. The Ministry of National Development has advised Town Councils to consult their auditors on the need for retrospective adjustments in their financial statements due to the varying nature of underpayments across councils.

Shawn Loh asked if the Government would extend the CPF Matched Retirement Savings Scheme to low-wage workers under 55, allowing community-matched contributions to boost their retirement savings. Tan See Leng explained that the scheme is targeted at senior citizens who need support closer to retirement, while younger workers have more time to save. Lower-wage workers, including those under 55, can also benefit from the Workfare Income Supplement scheme and the Progressive Wage Model, which promote income growth and skills development.

Chua Kheng Wee Louis asked the Minister for Digital Development and Information about Singapore's contributions, involved companies, and Key Performance Indicators for the Pax Silica initiative. Mrs. Josephine Teo stated that Singapore's participation aligns with cooperative efforts with international partners for mutual benefit. The inaugural Pax Silica Summit included multiple countries and focused on collaboration in key sectors of the digital economy, such as advanced manufacturing and AI infrastructure. The Summit resulted in a non-binding Pax Silica Declaration aimed at advancing prosperity, technological progress, and economic security.

Chua Kheng Wee Louis requested information on the budget and expenses related to the renaming of the Singapore Sports Hub to The Kallang and Kallang Alive Sport Management to The Kallang Group. David Neo highlighted the vibrant usage of The Kallang since the government's takeover in December 2022, with 4,000 event days and nearly 9.5 million visitors. The rebranding aims to enhance the venue's reputation for sports and entertainment while honoring Singapore's cultural heritage. The rebranding was accomplished within the existing operational budget of The Kallang Group, ensuring cost-effectiveness throughout the process.

Melvin Yong Yik Chye asked about plans to support small and medium enterprises in managing fire risks following a recent fire incident at an industrial estate. K Shanmugam emphasized that it is the responsibility of all businesses to comply with fire safety regulations and workplace safety laws. Resources are available for businesses, including guidelines on handling flammable materials and fire safety advisories from the SCDF. Businesses can participate in the SCDF's Responders Plus Programme for free training on emergency preparedness, including the use of fire extinguishers and CPR.

Chua Kheng Wee Louis questioned the Acting Minister for Culture, Community and Youth about the 55% increase in the People's Association's expenditure to $1,136 million for the year ending March 2025 compared to $733 million the previous year. Edwin Tong Chun Fai explained that the increase was mainly due to the Community Development Council (CDC) Vouchers Scheme, which expanded from two to three tranches in FY2024, reflecting additional financial support for households. The higher expenditure also supports a greater volume of events and programs organized by grassroots organizations, CDCs, and the People's Association for residents across Singapore.