Prime Minister Huang announced the SG60 Budget: Sharing the fruits of the economy has entered a new milestone

Budget 2025 is a Budget for all and a Budget shaped by all Singaporeans. Prime Minister and Finance Minister Wong Sam Choy said this year's Budget clearly charts the way forward for the country, overcoming immediate challenges while laying the foundation for a stronger Singapore.

Last year's Budget set out the first round of measures in the Hands Together Singapore Report, and PM Wong described this year's Budget as "further advancing the Hands Together Singapore agenda, bringing together people's ideals and perspectives, and working to maintain social cohesion and solidarity".

Last year's Budget set out the first round of measures in the Hands Together Singapore Report, and PM Wong described this year's Budget as "further advancing the Hands Together Singapore agenda, bringing together people's ideals and perspectives, and working to maintain social cohesion and solidarity".

In this landmark year, the Government has launched SG60 packages to share the fruits of the nation's development with people across the country, including SG60 Neighbourhood coupons of $600 to $800 and Singapore Cultural Passes of $100.

Prime Minister Wong delivered his FY2025 Budget statement in Parliament on Tuesday (Feb 18), with this year's theme being "Onward Together for a Better Tomorrow". The new fiscal year runs from April 1 this year to March 31 next year.

Support for household businesses to ease inflationary pressures

The outbreak of the Russia-Ukraine war in 2022 caused the global inflation rate to soar, and China was also deeply affected. Although inflation has now moderated, Prime Minister Wong promised that the Government will continue to support the people to the extent that it can. Because prices are still high, Singaporeans need time to adjust.

The outbreak of the Russia-Ukraine war in 2022 caused the global inflation rate to soar, and China was also deeply affected. Although inflation has now moderated, Prime Minister Wong promised that the Government will continue to support the people to the extent that it can. Because prices are still high, Singaporeans need time to adjust.

In addition to providing assistance to families and individuals, the government will also help businesses cope with high costs. For example, businesses that employ at least one local employee are entitled to a 50% corporation tax rebate in the year of assessment 2025. Companies that do not have to pay tax because they have no profits will receive a cash grant of $2,000; Taxable businesses can receive up to $40,000 in cash grants and corporate tax rebates.