DPM Gan Kim Yong at the Launch of CDC Vouchers Scheme 2026 (June)

Mayors, Grassroots Advisers,
Community leaders,
Stakeholders,
Ladies and gentlemen,

Good morning to all of you. Let me thank you for joining us today for the launch of this next tranche of the CDC Vouchers.

Over the years, the CDC Vouchers have provided meaningful and timely support to Singaporean households with their daily expenses. They also support our heartland businesses and hawkers, who are an important part of our local economy and community life.

Today’s launch comes at a timely moment.

The world around us has become more unpredictable. The crisis in the Middle East has disrupted global supplies of energy and other key essentials. This has pushed up energy and transport costs, as well as the prices of goods and services that we need. 

The Government understands Singaporeans’ concern on the cost of living. This is why we decided to bring forward this tranche of CDC Vouchers from next January to this June, to provide timely support for Singaporean households.

So far, the impact of the Middle East situation has been less severe than we had feared earlier. Our latest numbers shows that core inflation eased to 1.4% year-on-year in April, down from 1.7% in March.

But the situation remains fluid. Imported cost pressures are expected to go up in the months ahead, as higher energy and other input costs pass through global supply chains. Inflation may rise in the months to come.

The Government will continue to monitor developments closely. And if the need arises, we will stand ready to do more, as we have always done so before.

We are able to do this because we have been spending wisely and built up fiscal buffers. These buffers are a source of national resilience. They allow us to support households during difficult periods, help businesses adjust, and continue investing in our people and our future.

This is why we must continue to manage our finances carefully and prudently.

The coming months will not be easy. The Middle East crisis remains highly uncertain. We do not know how long it will last, whether it will spread further, or how global markets will react. There are also other risks in the global economy – from trade tensions to financial market stability. All these can affect Singapore.

But we are starting from a position of strength. Our economy held up relatively well in the first quarter of this year, growing by 6% year-on-year. Our 2026 growth forecast remains at between 2% to 4%.

So our task is two-fold.

First, we will help Singaporeans manage immediate cost-of-living concerns. The CDC Vouchers are one part of this effort. Together with other support measures such as the U-Save rebates and Cost-Of-Living Special Payment, will help cushion the immediate impact of higher prices.

Second, we will continue to strengthen Singapore for the longer term. We must enhance Singapore’s competitiveness and resilience, not only to withstand short-term shocks, but also to maintain our economic dynamism over the long term. This means helping our companies transform, make full use of new technologies such as AI, and compete in new markets. It also means investing in our people – in skills, reskilling, and career transitions – so that Singaporeans can continue to access good jobs and opportunities even as industries change.

Today’s launch is part of this broader effort. The CDC Vouchers help households manage daily expenses, and support our hawkers and heartland merchants. They keep spending circulating in our neighbourhoods. But they also reflect something more important and deeper – and that is our Singaporean spirit. When external shocks hit us, we come together quickly, and respond decisively. Government agencies, CDCs, grassroots leaders, merchants, hawkers, and residents all play a part. We move quickly, adjust where needed, and support one another.

This spirit of partnership is one of Singapore’s greatest strengths. I want to thank the Mayors, the CDCs, grassroots leaders, merchants, hawkers, and community partners for making this programme possible. Many of you have worked hard to help residents use the vouchers, bring merchants on board, and ensure the support reaches households promptly. To our residents, I encourage you to make good use of the vouchers at participating hawkers and heartland merchants. Every dollar spent helps your household, and also supports local businesses in our community.

Let me now say a few words in Mandarin.

当前国际局势复杂多变。中东的情况持续动荡，干扰了全球能源和其他重要物资的供应，提高了能源价格与运输成本，也导致新加坡所需的商品，的服务价格上涨。

政府理解国人对生活费的担忧。因此，我们决定将原定于明年一月发放的社区发展理事会邻里购物券 (CDC Vouchers)，提前至今年六月发放。

邻里购物券不仅能帮助家庭减轻日常开销负担，也能支持我们的小贩和邻里商家。

更重要的是，这体现了我们的新加坡精神。每当面对外来冲击，我们总能团结一心、迅速调整、积极的应对。这种同舟共济、共克时艰的精神，正是新加坡最宝贵的力量。

尽管如此，外部环境仍然充满着变数，冲击可能来得更加频繁，也更难预料。作为一个渺小而且开放的经济体，新加坡难免会受到影响。

政府将继续关切注意局势的发展，在有需要的时候为家庭提供更多的援助，协助企业灵活的应变，并持续投资，以提升新加坡长远的竞争力。

让我们大家团结一心、守望相助。只要坚定信心、携手前行，我相信我们不仅能克服眼前的挑战，更能把握好未来的机遇，共同开创一个更繁荣、更团结、更美好的新加坡。

We are now entering a more uncertain world. Shocks may come more often, and they may be harder to predict. As a small, open economy, Singapore will feel their impact.

But we are not without resource, and we are not without resolve. We have built up fiscal buffers through prudence and discipline spending. We will continue to strengthen our competitiveness and create good jobs for Singaporeans. Most importantly, we have a people that stand together.

The Government will continue to monitor developments closely, support households where needed, help businesses adjust, and invest in Singapore’s future.

If we stay prepared, stay united, and continue to look out for one another, we will overcome these challenges ahead, and emerge stronger together.

Let me take the opportunity to thank all of you for being here and for staying together, as one united people. Thank you and have an enjoyable morning.