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in total, the raise in taxes will raise about 500 million, which allows the government to have more flexibility in their spendings

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Cushion higher cost-of-living expenses and inflation

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Cushion higher cost-of-living expenses and inflation

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for example, tobacco tax prices increase by 15%

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To pay for the various of measures and policy changes, such as new and higher social spending, some taxes needs to be raised.

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Baby bonus - to help aid in financial burden of parents, to encourage people to produce offspring

Housing - increase amount of financial aid to help alleviate some burdens for younger parents to purchase houses to quickly start a family

Paternity leaves - doubled to encourage men to help out more with taking care of their children. Take some burden off mothers. Fathers should play a greater role in childcare now.

Child Development Account -  special savings account for children, to help cover some expenses such as medical expenses and childcare.

:)

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provide assistant plans, like schmes to better assist people from different financial backgrounds through subsidy

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GST voucher and temporary assurance package --> helps lower-income households adapt better to gst hike

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Provide more support for lower-income families

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Provide more support for lower-income families

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- Top up Elderfund
- Top up Medifund (For payment of medical bills)
- Increase in workers' salaries allocated to CPF (May have lower income, but more savings)

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The lower-income segments of society are always prioritised, “to help them achieve stability, self-reliance and social mobility, so that they can have dignity and aspire to a good future in Singapore”, said Mr Wong. Furthermore, inequality can often cause a high rate of dissatisfaction, unhappiness and even poorer public health, high crime rate and lower economic growth. The ComCare Endowment Fund got a large $300 million top up, so that it would have a larger base for its investments. The money earned from the investments go towards ComCare, which supports lower-income families, such as through cash handouts, or help with utility bills.

Another programme, KidStart, will now be scaled up nationwide, to help pregnant mothers and children in lower-income families. This programme targets families with children under six years old, because there is greater awareness now that their early years matter – from their nutrition
to their stimulation through play and education. About 80 per cent of eligible children are expected to be covered.
More childcare places – some 22,000 spots – and MOE Kindergartens will be available in the next two years too. The availability of more spots as well as rates as low as $3 a month for lower-income households are likely key to getting more families to place their children in a centre where they can interact with other kids and learn socialisation and other developmental
skills. Furthermore, childcare options allow parents to go back to work, with peace of mind.