![]() Mr Louis Chua (WP-Sengkang) said that by his calculations, 80 per cent of mothers will either be unaffected or worse off. They flagged that while the move will benefit lower- to middle-income mothers, the majority of working mothers – those who earn more than S$54,000 a year – will get less tax relief. The COV amount cannot be covered by a housing loan or CPF and must be paid for in cash, which young couples with limited savings are unable to afford, she pointed out.Īt least five MPs raised concerns about the Working Mothers’ Child Relief, which will change from a percentage of earned income to a fixed sum from 2025. Ms Soh said that the Housing Board grants do not defray the issue of many young couples opting out of resale flats due to the cash over valuation (COV) component, which could come up to S$30,000 to S$50,000. Such narratives may not apply to the majority of the population but can lead to a “disheartened and disgruntled” middle class, she said.īoth Mr Singh and Mr Leong also took issue with increases to the Central Provident Fund (CPF) Housing Grant, targeted at first-time home buyers, which they said could in fact cause home prices to rise in order to match the grants. “There are some young professionals who say, half in jest: ‘Work hard so you have enough money to actually buy a flat, but don’t work so hard so that you earn so much and you might bust the HDB income ceiling,’” said Ms Nadia. MPs including Xie Yao Quan (PAP-Jurong), Nadia Samdin (PAP-Ang Mo Kio) and Hany Soh (PAP-Marsiling-Yew Tee) also drew attention to the “sandwiched” middle class facing cost-of-living pressures. ![]() He asserted that the Government had billions of dollars in excess fiscal resources each year, which it should use on "long-term programmes" to make the middle class more resilient. Mr Leong then argued that short-term handouts like the Cost-of-Living special payment would "breed dependency". ![]() Non-Constituency MP Leong Mun Wai of the Progress Singapore Party (PSP) said that the "decline of the middle class" had given rise to the "two Singapores" described by Mr Singh, and that this group of Singaporeans was "overtaxed" relative to their incomes. ![]() In his speech, Mr Singh described one Singapore where high salaries and opportunities abound, and another with perceptions of slowing social mobility. ![]()
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