Economy & business

Chua Kheng Wee Louis asked the Prime Minister about annual management costs as a percentage of assets for Temasek Holdings over the last five years and performance indicators for three new wholly-owned entities. Indranee Rajah responded that previous records on management costs can be referred to in the Hansard. She explained that the new entities will manage different segments of Temasek's portfolio, and the Board will be held accountable for achieving long-term returns. Temasek will continue to publish the net returns of its total portfolio after deducting fees and expenses.

Chua Kheng Wee Louis questioned the Deputy Prime Minister about the assumptions behind Singapore's GDP growth potential and targets. Gan Kim Yong projected that Singapore's GDP is expected to grow by 2% to 3% annually, driven by productivity growth and a slowing workforce due to demographic changes. The Ministry aims to expedite growth by taking advantage of global economic shifts through the Economic Strategy Review, focusing on high value-added industries and technology. Success in these areas could lead to GDP growth exceeding 3% to 4% in favorable conditions, supporting real wage growth and enhancing resilience to global uncertainties.

Low Wu Yang Andre questioned the Minister for Social and Family Development about measures to ensure financial security for family caregivers who leave the workforce or reduce work hours, including potential direct compensation or CPF contributions. Masagos Zulkifli acknowledged the crucial role of caregivers and emphasized support for working caregivers through flexible work arrangements, employment facilitation, and reskilling programs. Caregivers may also access financial assistance programs like the Workfare Income Supplement and enhanced long-term care subsidies announced in Budget 2025. Additional support for seniors, including the Silver Support Scheme and Matched Retirement Savings Scheme, was noted to further aid caregivers. The Government aims to continually assess and enhance support for caregivers at various life stages.

Saktiandi Supaat posed questions regarding the projected impact of the Johor-Singapore Special Economic Zone (JS-SEZ) on investment, job creation, and supply chain resilience over the next five years, as well as its progress and benefits for Singaporeans. Gan Kim Yong explained that the JS-SEZ will leverage the strengths of both Singapore and Johor to attract investment and create jobs, with record-high investments already reported in Johor since the agreement was signed. He highlighted successful collaborations between companies, such as Agrocorp, Day One, and ResMed, which demonstrate the complementary advantages of the region in creating job opportunities for Singaporeans.

Shawn Loh questioned the Prime Minister on factors influencing the continuation of Government cost-of-living support amidst moderated inflation and persistent anxieties. Indranee Rajah explained that the Ministry of Finance assesses a range of factors, including inflation, economic conditions, and challenges faced by lower- and middle-income households when determining support. Loh highlighted concerns specifically from seniors and lower-income households and inquired about the Ministry's consideration of public sentiment in addition to data, as well as the potential for targeted support for vulnerable groups. Rajah affirmed that they do consider various demographics and specific needs when providing assistance, including targeted measures for certain groups, while emphasizing that support would be based on demonstrable needs.