Summary of PSP's proposal for Budget 2023

Mar 01, 2023 | 🚀 Fathership AI

The Progress Singapore Party (PSP) proposed an alternative Budget during the Budget debate in Parliament on February 22.

Leong Mun Wai, Non-Constituency Member of Parliament of the PSP, presented the party's proposals, including the Affordable Housing Scheme, Millennial apartment scheme, financial security for the middle class, nationalization of MediShield and CareShield schemes, securing job prospects for Singaporeans, and a minimum "living wage" of S$1,800.

Leong also criticized the increase in CPF Housing Grant announced during Budget 2023, proposing instead a more fundamental solution.

What PSP proposed:

  • Leong Mun Wai proposed the PSP's Affordable Housing Scheme and Millennial apartment scheme to "reset" housing policy.
  • He criticized the increase in CPF Housing Grant announced during Budget 2023, stating that it would inflate the housing market and necessitate higher CPF grants in the future.
  • Leong proposed that some tax increases should be reversed, including reverting the GST to 7% and limiting property taxes for owner-occupied properties to those with an annual value of over S$50,000.
  • He proposed nationalizing the MediShield and CareShield schemes and setting aside S$4 billion for it, stating that healthcare expenses are the second-largest drain on the CPF savings of Singaporeans, behind housing.
  • Leong proposed introducing a S$1,200 monthly levy on Employment Pass holders to level the playing field between Singaporean and foreign employees.
  • The PSP proposed a minimum "living wage" of S$1,800, which would guarantee a minimum monthly take-home pay for all Singaporean workers.
  • Leong proposed doubling ComCare payouts and providing an allowance to caregivers and stay-at-home parents.

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Mar 05, 2023 | 🚀 Fathership AI










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