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SINGAPORE – Prime Minister Lawrence Wong outlined the Government’s expenditure plans for the year on Feb 12.

In his Budget 2026 speech in Parliament, PM Wong laid out plans to tackle a range of issues, from cost-of-living concerns to helping Singapore businesses expand overseas.

Budget 2026 lays the groundwork for how Singapore will navigate its next phase of development, said PM Wong, who is also Finance Minister.

His speech covered six areas: refreshing Singapore’s economic strategy, harnessing artificial intelligence, building a more resilient and skilled workforce, support for families, protecting Singapore’s security and sustainability, as well as strengthening the Singapore spirit.

Here is an overview of the biggest announcements of Budget 2026:

Although inflation has eased, many Singaporeans continue to feel cost pressures. To help them cope, PM Wong said a Cost-of-Living Special Payment of $200 to $400 - in cash - will be disbursed in 2026.

Singaporean adults with an assessable income of up to $100,000, and who own no more than one property, will be eligible.

There will also be additional U-Save rebates to offset utilities bills. Eligible households will receive 1.5 times the regular U-Save amount, or up to $570 this financial year, he said.

In addition, all 1.4 million Singaporean households will receive $500 in CDC vouchers in January 2027.

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$500 CDC vouche...