Sentiments towards Singapore Budget 2023

Southeast Asia survey software company, Milieu Insight conducted a post-Budget 2024 poll on 17-19 February 2024 to understand opinions about the Budget announcements among N=1,000 Singaporeans and Singapore residents. 

CDC vouchers and cash payouts expected to have the largest impact on individuals

Respondents were asked which measures would have a significant impact on them, and these were their responses:

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Interesting skews in data on which measures have a significant impact: 

• CDC Vouchers and one-off U-Save rebates: Skew towards individuals aged 45-55+.
• Personal income tax rebates: Particular skew among those aged 35-54 and those with personal monthly income above $4000
• A one-time Medisave bonus of $300: Skew among individuals aged 35-44 (41% versus the overall 32%).

6 in 10 feel that the measures announced are insufficient to help cope with rising cost of living

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53% of those aged 40 and above are likely to upskill with the SkillsFuture $4,000 Top-Up Incentive

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• Among those aged 40 and above, 53% are likely to upskill and refresh their skills with the $4,000 SkillsFuture top-up
• 64% of respondents aged 40 and above would consider upskilling / already taking step to upskill for on-demand roles in AI or cybersecurity

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Methodology: Based on a Milieu Insight survey with N=1,000 Singapore citizens and residents, conducted via Milieu Insight’s online proprietary panel on 17-19 February 2024.

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