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Singapore Budget 2026 Focuses on Jobs, AI, and Voucher Reforms

Yahoo Finance •
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Prime Minister Lawrence Wong will deliver Singapore’s 2026 Budget on 12 February, addressing job creation, AI development, and cost-of-living concerns. The government may scale back the Community Development Council (CDC) voucher scheme, with economists predicting tighter income criteria and reduced payouts. Positioning Singapore as an AI hub is expected to be a central theme, emphasizing retraining programs for workers.

The Philippine Embassy and Department of Migrant Workers (DMW) are investigating a viral video showing a man assaulting a Filipina at Lucky Plaza. DMW Secretary Hans Cacdac confirmed legal actions are being considered, highlighting the government’s focus on protecting overseas workers. This case underscores broader concerns about migrant safety and regulatory enforcement.

Traffic enforcement at Woodlands Checkpoint will intensify from 13 to 17 February, targeting queue-cutting and lane discipline violations. The Immigration & Checkpoints Authority (ICA) warned that foreign-registered vehicles may face entry bans, while Singapore drivers could face penalties. Meanwhile, Tampines BTO projects saw high application rates, with Tampines Bliss’s 4-room flats drawing 6.8 applications per unit.

Lee Shih Kwei, a grandson of OCBC founder Lee Kong Chian, purchased a Barker Road bungalow for $43.2 million, reflecting Singapore’s high-end property market. This follows his brother’s $23.9 million condo purchase, signaling continued interest in premium real estate. Separately, UK Prime Minister Keir Starmer demanded an apology from Manchester United co-owner Jim Ratcliffe for remarks about immigration, calling them “offensive and wrong.”