Remarks by Deputy Prime Minister and Minister for Finance Lawrence Wong at the DBS/POSB Community Event on Support Measures for Cost-of-Living on 12 August 2023 at West Coast Food Centre.
West Coast residents, good afternoon. I am joining Minister Desmond Lee, together with many of the West Coast grassroots leaders and our friends from IMDA as well as DBS and POSB for today’s event.
Of course, there is a Getai (show) later, I am sure all of you are looking forward. But we are here for two things. One, we have a digital (literacy) workshop as you can see, to help all our residents, especially seniors, learn more about how we can have better digital skills, especially using your handphone to do a whole range of different transactions.
Your handphone is very powerful. It is not just to take selfies and wefies or to do WhatsApp. You can do many things on your handphone but not many residents know what to do with it, especially the seniors, so we have workshops to teach you. Many seniors are worried (that) the more they use (their handphones), the more they might get scammed, so we also have workshops to help you how to stay safe while using your handphones and while using new digital technology. We hope you make full use of the workshops, make full use of all the activities, get access and start learning how to make greater use of digital technology.
A second reason why we are here is because of the concerns that many Singaporeans have about cost of living and rising prices. That is something that is happening in many countries around the world because of the war in Ukraine, and because of supply chain disruptions. We are facing this in Singapore too.
The Government has already rolled out quite a number of measures. (For example,) CDC vouchers were given out. More help is coming in the next few months. But today, we are very happy to have DBS and POSB join us in this combined effort to help lower-income families reduce your cost of living. In particular, DBS has announced a whole range of measures to help lower-income families including rebates at hawker centres, transport rebates, ways to stretch your dollar, to help with your home mortgage, to help with your extra savings. So DBS is here to partner you and we are grateful for their contribution. Let's give them a big round of applause.
The CEO of DBS is here, all their people are here, and even their senior management – it shows their commitment as a company not just to do well as a company but to do good and to be a good corporate citizen contributing to Singapore success and really making an extra effort to uplift all our vulnerable and disadvantaged families in our community.
This is, we hope, the spirit that we can (have to) move forward. There are challenges, but there will always be challenges in our nation-building journey. The Government will do more, but we cannot just rely on government efforts. We hope community groups will do their part. We want companies to do their part too, and working together, we can have every confidence that we will overcome every challenge. We can look forward and build a better future for everyone in Singapore.
Thank you very much and enjoy the rest of the day.
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