Budget 2026 wish list: Singaporeans want more CDC vouchers, job security

With Prime Minister Lawrence Wong scheduled to deliver the Budget 2026 statement on Feb 12, Singaporeans are eager to hear about the government's priorities and vision for the year, including the announcements of new measures.

2025 was a year marked by uncertainty, amid global geopolitical tensions and trade issues which disrupted the global rules-based multilateral system that was considered the norm. 

Despite ongoing challenges, Singapore managed to deliver a stronger-than-expected growth of 4.8 per cent for the full year, against earlier expectations that slashed forecasts to 0 to 2 per cent at the height of the US-China tariff war in April 2025.

"Unemployment and inflation remained low, and real incomes have risen across the board," said PM Wong during his New Year message, while remaining cautious that sustaining the same pace of growth in the upcoming year will be difficult.

Ahead of Budget 2026, AsiaOne spoke to some Singaporeans about their wish list and their main concerns going into the new year.

Cost of living issues

Li, 25, a freelance content creator, took over the responsibility for her household's utility bills last year and hopes that Budget 2026 will continue supporting Singaporeans with inflation and the rising cost of living.

Speaking to AsiaOne, she said that the quarterly disbursements of U-Save and S&CC rebates last year provided the necessary help when budgeting and had a "real impact" on her finances.

In addition to financial help with utilities, Li hopes that the Government will continue providing Singaporeans with more CDC vouchers or cash payouts to help with daily expenses.

"I typically split my monthly income into savings, bills, and household needs, leaving me with a small amount for leisure. Because of this, I often find myself having to over-justify every expense that falls outside of necessities," she said.

With CDC vouchers, Li reckons she'll be more willing to spend on "more indulgent" expenses such as eating out or wellness treatments. 

At the same time, the CDC scheme had also helped her find a variety of new local businesses to patronise, like many other young adults who hunt for local cafes and stores to spend their vouchers at.

In a survey conducted by AsiaOne in December 2025, which polled 2,128 Singaporeans on their attitudes towards the cost of living, some 88 per cent said they were at least somewhat concerned about the cost-of-living situation in Singapore for the next six months.

Cost of food (73 per cent) were their topmost concern, followed by the cost of healthcare (68 per cent). Their most common coping strategies include cutting back on non-essential spending (65 per cent) and dining out less frequently (55 per cent). 

For Budget 2026, respondents expect CDC vouchers to be announced followed by extensions of the Assurance Package cash payouts, MediSave top-ups and S&CC rebates.

High COE prices

Other individuals AsiaOne spoke to cited higher public transport fares and an overall rising cost of living.

High Certificate of Entitlement (COE) prices were also a universal concern raised by the individuals that AsiaOne spoke to, including Jessica Ng, a mother of two. 

"Many parents already hold valid driving licences but are unable to own a car due to the high cost of COE," she said.

Ng, who is in her thirties and works in the healthcare sector, said that bringing her young children out is often difficult considering the amount of cumbersome things she has to carry along, and that a car would "significantly ease daily caregiving needs".

Michael Lim, a retiree in his 60s, echoed similar sentiments and hopes that the Budget can provide some targeted support for individuals and young families who compete with car rental companies to secure COEs.

Job security

While national data has shown that Singapore's labour market has "remained resilient" and that unemployment rates remain low in 2025, some graduating students continue to feel palpable anxiety surrounding employment.

Julian Lo, a 25-year-old philosophy student at Nanyang Technological University (NTU), told AsiaOne that his biggest concern is landing a job when he graduates in a few months.

Rather than cash vouchers that help with day-to-day expenses, he will be looking forward to "more strategic, long-term, and experimental solutions" — such as the current Graduate Industry Traineeships (GRIT) and GRIT@Gov programmes — in Budget 2026 to support young jobseekers. 

Lo also hopes that students will be provided with more effective career counselling services, and that there will be greater efforts towards job matching and the creation of more diverse career paths.

Separately, Li told AsiaOne that she hopes for more targeted training support and that SkillsFuture courses can be redeveloped.

"Though citizens were given $500 worth of credits to upskill themselves, a large part of the population left their grants untouched," she said, citing reasons such as the lack of time and suitable courses.

"I'd like to see more targeted training support before people lose their jobs as well as assistance for workers looking at mid-career field switches," Li said.

Support for local businesses

On the local business front, the Singapore Business Federation (SBF) and PwC Singapore compiled a list of recommendations on Jan 12 and said that strengthening trade resilience and addressing skills scarcity should be key priorities for Budget 2026.

They highlighted challenges to employment amid an ageing population and a tighter labour supply, and proposed various initiatives such as job matching and sector-specific employment packages to complement Singapore's plan to progressively raise retirement and re-employment ages.

The organisations also suggested supporting smaller businesses with grants or rebates to cover higher health and insurance costs of older workers.

Improved access to foreign manpower in sectors such as civil engineering, manufacturing and logistics was also proposed, to account for the lack of Singaporeans willing to take up such jobs.

The Singapore Manufacturing Federation (SMF) also released a Budget 2026 wish list on Dec 19, with similar themes as SBF and PwC in terms of driving AI adoption and strengthening the workforce.

It suggested a government-funded rebate to help SMEs offset rental costs amid escalating operational expenditures and the current inflationary environment.

SMF also emphasised the need for talent development, and proposed developing frameworks to better leverage the existing workforce and create pathways for mid-career professionals into enhanced roles.

SBF and PwC also recommended maintaining the corporate income tax rebate at 50 per cent, but increasing the cap, to support local SMEs while they weather the current economic uncertainty.

'We have heard your aspirations'

Ahead of the upcoming Budget, PM Wong shared a video on Tuesday (Jan 27) saying that he and his team have engaged Singaporeans from all walks of life about the upcoming Budget.

"We have heard your aspirations and also your concerns about the uncertain external environment, the impact of technology and AI on jobs and also on cost pressures that you face," he said.

Budget 2026 will be the first Budget since GE2025 concluded in May and Cabinet changes were made last year.

PM Wong will be delivering the Budget 2026 statement in Parliament on Feb 12 at 3.30pm.

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dana.leong@asiaone.com