Singapore Budget 2024 Unveiled: Future Energy Fund and MediSave Bonuses Announced

Deputy Prime Minister Lawrence Wong announces a series of financial measures aimed at enhancing energy security and supporting Singaporean citizens.

Singapore's Deputy Prime Minister and Finance Minister Lawrence Wong announces a series of measures in Budget 2024, including the establishment of a S$5b Future Energy Fund.
Adult Singaporeans aged 21 to 50 to receive a one-time MediSave Bonus of up to S$300, benefiting approximately 1.4 million citizens.
CPF contribution rates for those aged 55 to 65 will increase by 1.5% in 2025, alongside an increase in the Enhanced Retirement Sum starting next year.
The Enlistment and Other Matters (Amendment) Bill is approved by Parliament, with clarifications provided by Senior Minister of State for Defence Heng Chee How.
Senior Minister of State for Health Janil Puthucheary discusses the potential of Virtual Reality Exposure Therapy for treating disorders, noting it is still under research and not yet approved in Singapore.