SMU Professor Emeritus of Strategy & Entrepreneurship (Practice) Pang Eng Fong and a colleague noted that while Singapore's Budget 2025 is lauded for addressing high living costs with short-term subsidies, it overlooks market distortions from state policies on land, labour, and exchange rates. They argued that these subsidies, particularly for higher-income individuals, may foster an entitlement culture and delay essential economic restructuring. As Singapore faces significant future challenges, the focus should shift from universal handouts to encouraging citizens to consider how their aspirations and behaviour impact collective well-being, influencing future budgets and policies.
