Yahoo Finance Singapore citizens want more than government’s relief package to combat rising living costs: YouGov
Demand for greater support signals Singapore citizens could be feeling the pressure of rising costs, says YouGov.
Amidst rising global inflation, the Singapore government announced in June a $1.5 billion support package to help lower-income and vulnerable groups, in addition to other forms of aid.
But many Singapore citizens want more aid beyond the government’s inflation relief package, says YouGov with the release of its new survey findings, adding that demand for greater support signals citizens could be feeling the pressure of rising costs. Almost all respondents to the survey say that costs of living have increased over the past year.
YouGov is an international online research data and analytics technology group focused on consumer data. This study was conducted online from June 30 to July 11 with a nationally representative sample of 2,101 Singapore citizens over the age of 21 and using a questionnaire designed by YouGov.
The survey reveals that of the 85% of Singapore citizens who are aware of this package, an 86% majority want the government to do more in this regard. Four in ten (38%) feel that "a little more should be done" while nearly half (48%) think "a lot more should be done" to help people feel secure amidst sharp price rises. In comparison, only 13% said current levels of government support are sufficient.
Expectation for greater support is higher at 88% among Gen X respondents, born between 1965 to 1980, than younger respondents. Gen Z and Baby Boomers — born between 1997 to 2009 and 1946 to 1964 respectively — are most likely to be satisfied with the level of aid, with 16% of each group saying current levels of support are sufficient.
Additionally, while the package is intended to assist lower-income and more vulnerable groups, citizens who say they can "only just afford" or "cannot afford" their costs of living were also most likely to say that more should be done to address rising costs, at 95% and 92% respectively.
Almost all respondents in Singapore, at 94%, claim their costs of living have gone up to some extent compared to 12 months ago, with a majority of 70% saying it has "gone up a lot", while just under a quarter at 23% feel it has "gone up a little". Gen X respondents, born between 1965 and 1980, were more likely to say this at 80%, compared to younger respondents.
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