Lawrence Wong to deliver 2025 election budget statement on 18 February

SINGAPORE: Prime Minister and Minister for Finance Lawrence Wong will present Singapore’s 2025 Budget statement in Parliament on 18 February at 3.30pm, the Ministry of Finance (MOF) confirmed on Monday (3 February).

The Budget will be broadcast live across multiple platforms, including Channel 5, CNA938, and Capital 958 radio stations. It will also be available for streaming on CNA’s website, YouTube, Facebook, and TikTok accounts, as well as 8 World’s website, YouTube, and Facebook pages.

Additionally, Mediacorp’s meWATCH and the Prime Minister’s YouTube channel will carry the statement live.

Key announcements from the Budget will also be shared via MOF’s and the Prime Minister’s social media platforms.

Singapore’s annual Budget is aligned with the financial year, which starts on 1 April and ends on 31 March of the following year.

With the next General Election (GE) expected by November 2025, the Budget is seen as a pivotal move for the People’s Action Party (PAP) in shaping public perception ahead of the polls.

The timing of the 2025 Budget, scheduled for mid-February, follows the government’s usual practice of delivering the statement around this period. However, its proximity to the upcoming GE has drawn increased public and political attention.

As stipulated by the Constitution, the General Election must be held by November 2025.

Following the delivery of the Budget, the public will have access to the full statement on the Singapore Budget website.

Interested individuals can also visit the MOF website and subscribe to receive the statement directly after it is delivered.

Members of the public will have the opportunity to voice their views on the Budget through REACH’s Budget 2025 microsite or via its Facebook and Instagram pages. REACH, the government’s feedback and engagement unit, will host two in-person Budget conversations: one in English on 20 February and another in Mandarin on 13 March.

The 20 February session will include Minister in the Prime Minister’s Office and Second Minister for Finance and National Development Indranee Rajah, alongside REACH Chairman Tan Kiat How, who is also Senior Minister of State for Digital Development and Information and National Development.

The 13 March session will feature Minister for Transport and Second Minister for Finance Chee Hong Tat and REACH Deputy Chairperson Eric Chua, who is also Senior Parliamentary Secretary for Culture, Community, and Youth, and Social and Family Development.

REACH will also host a series of engagements, including physical listening points and outdoor panel discussions, to ensure the public can share their thoughts on the Budget.

Further details regarding these engagements will be available on REACH’s Budget 2025 microsite.

PAP’s First Election Under Wong’s Leadership

Wong, who succeeded Lee Hsien Loong as Prime Minister on 15 May 2024, is under growing pressure to tackle key issues such as rising living costs, housing affordability, and job security.

As the Secretary-General of the ruling PAP, Wong’s Budget presentation is seen as a key opportunity to introduce voter-friendly measures in response to widespread dissatisfaction following recent scandals. A series of controversies has intensified public scrutiny of the ruling party.

The latest incidents include the NRIC numbers unmasking controversy and legal threats involving Ministers K Shanmugam and Tan See Leng related to Bloomberg’s reporting on Good Class Bungalow (GCB) transactions.

Given this backdrop, it is expected that the 2025 Budget will include substantial “carrots” to appease voters and rebuild confidence in PAP leadership—an effort that is especially critical for Wong as he prepares to lead the PAP in its first election under his leadership.