While the government has started to explore progressive policies on housing and expanding social safety nets, Tan argues that true reform requires “substantial political courage” and genuine public support.

Singapore now ranks as the city with the highest cost of living in the world, rivalling Zurich, according to last year’s Economist Intelligence Unit survey.

Wong highlighted the issue last week during a speech marking his 100th day in office, stating that his team is focused on helping vulnerable groups, such as larger families with young children.

“We are prepared to, and we are thinking about how we can provide more help. So we are indeed focused on looking at all of these different segments and thinking of different ways in which we can help them,” he said in the speech on Friday.

The initiative offers up to S$6,000 (US$4,580) over six months for training and career coaching, marking a notable shift in Singapore’s traditionally cautious approach to welfare policies.

But Chong Ja Ian, a political scientist from the National University of Singapore, said he doesn’t think “the public really feels the PAP’s efforts quite as fully as the PAP may prefer as yet”.

In response to rising living costs and a recent increase in the goods and services tax to 9 per cent, the government has launched various relief measures, including cash vouchers and subsidies. In February, it introduced S$600 vouchers for households and 50 per cent corporate income tax rebates as part of a broader effort to provide “near-term relief”. This year, the largest portion of the budget – S$56 billion (US$43 billion) – was allocated to the social development sector, accounting for around 42 per cent of total expenditure.

It comes as Singapore inches closer to a general election, which must be called in November 2025 – but widely expected to take place before that legal deadline.

Critics argue the government’s recent relief measures offer only temporary respite.

Tham, a 62-year-old business owner who declined to give his real name, expressed scepticism, saying that while the vouchers provide some relief, they don’t tackle deeper issues, forcing him to dip into his retirement savings.

“The government needs to come up with stronger measures to manage the cost of living and keep it from spiralling out of control,” he said.

Singapore’s core inflation index, which excludes private road transport and accommodation costs, rose 2.5 per cent in July from a year earlier, according to official statistics. While inflation has eased from its peak of 5.5 per cent in early 2023, the financial burden remains significant.

Political observers who spoke to This Week in Asia agreed that while recent efforts have provided temporary relief to many, some segments of society – especially lower- and middle-income Singaporeans – are feeling the pressure more intensely.

James Chin, a professor of Asian studies at the University of Tasmania, warned that young couples may have to delay their housing and family planning dreams due to soaring costs, with high housing prices particularly troubling for this group.

Elderly Singaporeans, many of whom are saving for retirement while grappling with rising healthcare expenses, also find themselves in a precarious position, according to Linda Lim, a corporate strategy and international business professor at the University of Michigan. But she said age alone doesn’t dictate one’s welfare needs or status.

“Some people will be grateful for the government handouts, and think that government policies will be helpful in mitigating cost of living pressures – or will give the government credit for trying,” said Lim, adding that views on the government’s performance largely varied based on individual interests.

“The bottom line is that many Singaporeans do not earn enough to afford a standard of living that they expected, let alone what they aspire to,” she said.

Loyalty prevails

While the rising cost of living is a pressing concern for many voters, observers note that it may not be enough to sway opinions, especially among loyal PAP supporters. Voting behaviour is shaped by a range of lived experiences and ideologies, they say.

“If any support shifts away from the PAP, that is perhaps less about confidence in the PAP’s ability and more about disagreement with their policies,” said political scientist Chong. “Loyal PAP voters extend support to the party for reasons other than cost of living issues and support the PAP for reasons of ideology or a belief that the PAP offers stability.”

Chin, the Asian studies professor, gave the example of elderly Singaporeans, who may be frustrated with rising prices, have witnessed their home country’s transformation into one of the wealthiest in the world, making them unlikely to vote against the government.

On the flip side, Lim highlights that some groups, such as landlords and property owners, have benefited from the rising costs.

However, Chong says that younger families and elderly citizens “who believe that their votes can meaningfully change policy may be demographics to watch” – though their concerns about issues like the environment, gender, and democracy could also sway their decisions.

Ultimately, despite public frustration, many Singaporeans continue to believe in the country’s economic model and are willing to endure higher costs.

“Singaporeans have long been conditioned to the mindset that foreign investment, labour, and talent are good for them, and may even believe that we can’t survive or prosper without them,” Lim said.

“So they are willing to go with the PAP economic model even though it increases the cost of living.”