Cost of living is a key issue as Singaporeans head to May 3 election
Jun Yuan Yong and Bing Hong Lok
Updated Thu, 1 May 2025 at 5:08 PM SGT4-min read
Nomination Day ahead of the general election in Singapore
By Jun Yuan Yong and Bing Hong Lok
SINGAPORE (Reuters) - When 68-year-old Richard Han heads to the ballot box on Saturday to vote in Singapore's election, cost-of-living pressures will be on the retiree's mind as he worries about his daily expenses and his son's prospects after university.
Financial consultant Catherine Tan also worries about the future for her two young children. The 30-year-old is finding it hard to make ends meet on a S$5,700 ($4,350) household income, especially when a specialist visit for her son's eczema can cost up to S$300.
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"The prices of all other things increase, but our pay does not increase," said Tan, whose household income is below the city-state's median of S$11,297.
They are among 2.76 million voters going to the polls on May 3 as the threat of U.S. tariffs and a softening economic environment raise the risk of a recession in the city-state.
Singapore was named as the world's most expensive city to live for the second year in a row by international bank Julius Baer in a 2024 report on global wealth.
The ruling People's Action Party, led by Prime Minister Lawrence Wong, has won every election since independence in 1965 and is expected to again win the most seats.