Improving skills, training and social mobility
Budget 2024 is an important first step towards strengthening the skills and training ecosystem by helping Singapore’s workforce access more training support. Money aside, it’s important that the SkillsFuture level-up program instills lifelong habits and motivation for continuous learning. This would give meaning to Forward Singapore’s policy shift of “respect and reward for all work” and “learning beyond grades.”
Similarly, the Budget aims to reduce wage inequality by raising the income threshold for the Workfare Income Supplement Scheme from S$2,500 to S$3,000. The maximum annual payment will also increase from S$4,200 to S$4,900.
Graduates of the Institute of Technical Education (ITE) in particular have the opportunity to upskill. When they enroll in a local diploma program, she will have S$5,000 added to her post-secondary education account. Completing your diploma will add an additional S$10,000 to your Central Provident Fund (CPF) savings account.
and funding for ComLink+ Progress Packages to support eligible low-income families with young children who are getting back on their feet through preschool, employment, financial security, and saving for their first home. Offers are also provided. This collaborative effort aims to promote social mobility by reaching people seeking to break out of the chains of poverty.
As Singapore enters a super-aging society, the Budget will make improvements to healthcare, including making pre-primary education more affordable and supporting students with special needs by reducing pre-primary costs. There are also provisions for affordability and accessibility, adequate retirement living, and families at all stages. – Pocket money for their education and student care, and promotion of employment opportunities and community integration for adults with disabilities.
Where will all these budgetary outlays lead us? They will ultimately lead to a stronger, more united nation – one that has greater trust, is safe and secure, has energy security, fosters a culture of giving, and We aim to be a nation that promotes a sense of togetherness through common experiences through art and sport as a means of support.