The Progress Singapore Party (PSP) released its manifesto for Singapore's 2025 General Election, titled “Progress for All,” outlining over 60 policy proposals to address key national issues.

The manifesto focuses on building a fair society, ensuring dignified living standards, providing diverse educational pathways, and strengthening democratic institutions.

Below is a detailed, reorganized summary of the manifesto’s key points, structured for clarity and coherence, based on the provided document.

1. Cost of Living

The PSP addresses Singapore’s escalating cost of living, driven by a 18% rise in the Consumer Price Index (CPI) from July 2020 to February 2025, with specific increases in hawker food (20%), public transport (20%), and water prices (18%). The GST hike from 7% to 9% in 2024 and soaring HDB resale prices (50% increase from Q2 2020 to Q4 2024) exacerbate the burden, while median wages have only risen 21% from $4,534 to $5,500.

• GST Reduction and Exemptions:
  • Reduce GST to 7%, arguing it’s regressive and Singapore’s $1.2 trillion reserves (12 years of government expenditure) allow fiscal flexibility.
  • Exempt basic essentials (e.g., water, rice, eggs, cooking oil, formula milk) from GST, with price thresholds (e.g., rice under $2/kg) to target lower-income households.
• Land Cost Reforms:
  • Defer land cost for HDB Build-To-Order (BTO) flats, recording it at sale and recovering it with interest upon resale, treating public housing as essential infrastructure like schools.
  • Treat land sales proceeds as revenue over the lease period (e.g., 99 years), allowing 5% annual draw for budget use, providing a cumulative revenue stream without depleting reserves.
• Commercial Rent Control:
  • Have the Fair Tenancy Industry Committee (FTIC) issue guidelines on annual rent increases for commercial properties, aligning with economic growth to moderate business costs.
• Hawker Centre Reforms:
  • Set hawker stall rents at $500/month or 3% of gross turnover (whichever is higher), replacing the tender system to lower costs (current median: $1,625/month).
  • Phase out Socially-conscious Enterprise Hawker Centres (SEHCs) and centralize management under a new agency, “Hawker Singapore,” to reduce costs and promote hawker culture.
• Food Affordability:
  • Provide government-funded food discounts for Pioneer Generation, Merdeka Generation, and CHAS cardholders at hawker centres, funded by respective funds.
  • Increase CDC Vouchers for lower-income households to offset food costs, relieving hawkers from funding budget meals.
• Healthcare Affordability:
  • Nationalize MediShield Life and CareShield Life, with government-funded premiums for all Singaporeans, costing $2-3 billion annually to ease premium burdens.
  • Centralize drug procurement for public and private healthcare facilities to reduce costs through bulk bargaining.
  • Offer a $3,000 “HealthierMother” cash gift per child to defray confinement costs post-childbirth.

2. Housing

The PSP critiques the BTO system’s long waiting times and rising resale prices (50% increase from Q2 2020 to Q4 2024), driven by land costs (60% of BTO costs) and lease decay concerns. The government’s subsidies to keep BTO prices affordable increase fiscal burdens, necessitating a rethink of housing policies.

• Affordable Homes Scheme (AHS):
  • Replace BTO with AHS, selling flats at construction cost plus a location-based premium, excluding land cost unless sold on the resale market.
  • Ensure affordability without depleting CPF savings, severing the link between housing and retirement, with minimal impact on resale market due to limited supply (20,000 flats/year).
• Singles Housing Access:
  • Allow singles aged 28+ to buy 2- and 3-room BTO flats and all resale flats in any estate, compared to the current age 35 limit for 2-room Flexi BTOs.
• Increase Flat Supply:
  • Build more flats based on forecasted demand (e.g., marriage and birth rates), using unused state properties (e.g., former schools) to reduce waiting times.
• Millennial Apartments Scheme:
  • Offer affordable, high-quality rental apartments in the CBD and mature estates for young couples/singles on 2-5 year leases, providing flexibility and reducing pressure to buy early.

3. Jobs and Wages

With foreign workers comprising 39% of the workforce, the PSP aims to prioritize Singaporeans while ensuring fair competition and better work-life balance, addressing overwork (90% work beyond official hours) and wage stagnation.

• Minimum Living Wage:
  • Set a $2,250/month minimum wage ($1,800 take-home after CPF), based on 2019 Minimum Income Standard, to ensure dignity and reduce reliance on subsidies.
• Foreign Worker Policies:
  • Strengthen the Fair Consideration Framework (FCF) by extending job ad periods, requiring more ads, and proving no suitable Singaporean candidate.
  • Introduce per-company EP quotas, with higher quotas for SMEs, to balance global talent access and local priority.
  • Impose a $1,200/month EP levy to offset employers’ CPF savings on foreign workers.
  • Raise EP minimum qualifying salary to $10,000/month (from $5,600-$10,700).
  • Limit single-nationality work pass holders per company to prevent workplace enclaves.
• Worker Protections:
  • Exempt retrenched employees from non-compete clauses to ease job transitions.
  • Mandate statutory retrenchment benefits (2 weeks’ salary per year of service for 2+ years’ service), exempting small or bankrupt firms.
• Parental Leave:
  • Equalize parental leave at 15 weeks per parent (4 weeks maternity/paternity, 22 weeks shared equally), promoting shared parenting responsibilities.
• Family-Friendly Employers:
  • Offer incentives like higher foreign worker quotas to employers supporting parental leave.

4. Social Safety Net

The PSP seeks to simplify and strengthen social support, reducing reliance on complex schemes and supporting caregivers, seniors, and healthcare needs.

• Redundancy Insurance:
  • Introduce a scheme paying 75% of the last-drawn salary for 6 months (capped at $3,750/month), funded by 0.5% monthly contributions from employers/employees.
• Caregiver Support:
  • Provide a $1,250/month allowance (including CPF) for full-time caregivers of children under 7, costing up to $2.5 billion annually, replacing childcare subsidies.
• Silver Support Scheme:
  • Double payouts to $430-$2,160/quarter ($144-$720/month), based on flat type and income, for seniors with low retirement savings.
• Pioneer and Merdeka Funds:
  • Publish projected investment income and ensure full utilization of funds ($5.52 billion for PG, $5.55 billion for MG as of March 2024).
• CPF Lifetime Retirement Investment Scheme (LRIS):
  • Implement LRIS, allowing investment in low-fee, diversified funds (6-10% annual returns over 5 years, per US 401(k) data), boosting retirement savings.
• MediSave Expansion:
  • Increase MediSave500/700 withdrawal limits ($500/$700 annually for outpatient care) and cover preventive dental treatments, maternity fees, and egg freezing.
• Fertility Support:
  • Offer 75% co-funding for unlimited ART cycles for women under 40 (until 2 children), and 3 fresh/3 frozen cycles for ages 40-45.
• Mental Health:
  • Increase MediSave withdrawal limits for mental health treatments (e.g., schizophrenia, depression), regulate counsellors, and reduce public hospital waiting times (47 days for psychiatrists, 36 for psychologists in 2023).

5. Education

Despite Singapore’s top PISA 2022 rankings, the PSP critiques over-reliance on tuition ($104.80/month household expenditure in 2023) and high-stakes exams, which foster fear of failure (2018 PISA). The system should offer diverse pathways and equal opportunities.

• Through-Train Programme:
  • Pilot a 10-year programme (Primary 1 to Secondary 4) with optional PSLE, emphasizing holistic curricula (arts, humanities, sports) and flexible assessments.
• School Size Diversity:
  • Maintain a range of school sizes, avoiding mergers to preserve heritage and support diverse needs (e.g., neurodivergent students).
• Assessment Reform:
  • Reduce reliance on summative exams, using portfolios and projects to foster critical thinking, collaboration, and creativity.
• Smaller Class Sizes:
  • Lower class sizes (from 33.6 primary, 32.6 secondary in 2023) by re-employing older teachers as Flexi-Adjuncts and using technology to reduce administrative burdens.
• Mental Health Support:
  • Conduct annual mental health assessments for students, increase school counsellors to 2 per school (from 1 in two-thirds of schools), and monitor teacher burnout.
• International Students:
  • Limit scholarships/tuition grants for international students (10% of AU undergrads, $238 million in 2019), prioritizing full-fee payers to subsidize locals.
• University Access:
  • Review AU places for Singaporeans, especially in Medicine, and expand vocational pathways (e.g., WSQ qualifications) for university admission.

6. Governance

The PSP addresses concerns over the PAP’s parliamentary dominance, lack of checks and balances, and recent policy missteps (e.g., Covid-19 dormitory outbreaks, SimplyGo reversal). It seeks to enhance transparency and accountability.

• Ministerial Salaries:
  • Benchmark salaries to median Singaporean income (not top 1,000 earners) to reflect public service ethos.
• Asset Declarations:
  • Require MPs to publicly declare assets post-election in a Register of Interests, following Commonwealth practices (e.g., UK, Australia).
• Sovereign Wealth Funds:
  • Hold closed-door parliamentary hearings for Temasek and GIC, publish senior management salary ranges, and compare performance to global benchmarks.
• Freedom of Information:
  • Enact a Freedom of Information Act, requiring government disclosure unless exemptions (e.g., national security) are justified in court.
  • Automatically declassify documents after 25 years, unless restricted for security.
• Media Reform:
  • Liberalize the Newspaper and Printing Presses Act, removing ministerial approval for management shares, and reduce online news content provider bonds ($50,000 to $20,000).
  • Establish an independent press standards committee to handle complaints and enforce journalistic integrity, funded by Parliament.
  • Fund local digital media start-ups to foster diversity, redirecting $900 million SPH Media Trust and $310 million MediaCorp grants.
• POFMA Reform:
  • Vest POFMA powers in the judiciary, limiting use to deliberate falsehood campaigns to reduce chilling effects on free speech.
• Electoral Reforms:
  • Abolish GRCs, replacing with minority NCMP schemes or a hybrid FPTP/proportional representation system with multi-racial candidate mandates.
  • Reform electoral boundary reviews with transparent processes, fixed voter counts (30,000 ±10%), and bipartisan approval for major boundary changes.
• People’s Association (PA):
  • Depoliticize PA by appointing neutral public servants as Grassroots Advisors, excluding MPs and political figures.
• Environmental Impact Assessments (EIAs):
  • Mandate public EIAs for major developments, with 2-month feedback periods, evaluating biodiversity, ecosystems, and emissions.
• Voting Age:
  • Lower voting age to 18, aligning with global norms and National Service obligations.
• Parliamentary Support:
  • Create a Parliament Research Service (PRS) with seconded experts to support MPs’ policy research.
  • Form bipartisan standing committees to scrutinize legislation over 2 months, with powers to subpoena witnesses and access PRS.

Conclusion

Launched ahead of the May 3, 2025, election, the PSP’s manifesto builds on parliamentary proposals since 2020, reflecting resident feedback and critiques of PAP policies.

The party emphasizes its role in holding the government accountable, citing past PAP responses (e.g., Pioneer Generation Package) to opposition gains.

Implementation challenges include fiscal costs (e.g., GST reduction, caregiver allowances) and political resistance to reforms like GRC abolition.

The PSP’s focus on affordability, housing, and governance aligns with public concerns, but success depends on electing at least 33 opposition MPs to block constitutional amendments.

The manifestos of the People’s Action Party (PAP), Workers’ Party (WP), Progress Singapore Party (PSP), and Singapore Democratic Party (SDP) for the 2025 Singapore General Election reveal a spectrum of priorities, as summarized in the following table:

This table highlights the diversity in approach, with PAP focusing on continuity, WP on balanced reform, PSP on transformative change, and SDP on social justice and democratic overhaul.

Critical Insights

1. Addressing Public Concerns:

   • PAP: Targeted subsidies (e.g., Assurance Package) provide immediate relief but may not address root causes like rising costs, appealing to those prioritizing stability.
   • WP: GST exemptions and a $1,600 minimum wage offer practical relief, balancing affordability with feasibility, suitable for middle-class voters.
   • PSP: Reducing GST to 7% and deferring HDB land costs are bold, voter-friendly moves, but fiscal risks may concern cautious voters.
   • SDP: Abolishing GST on essentials and taxing the top 1% directly tackle inequality, appealing to lower-income groups, but lack of cost estimates raises feasibility questions.

2. Housing:

   • PAP: Over 50,000 new flats increase supply, with VERS addressing lease decay, maintaining market stability.
   • WP: 70-year leases and buy-back schemes focus on affordability, offering a middle-ground solution.
   • PSP: AHS excludes land costs for affordability, with Millennial Apartments addressing youth needs, but market disruption is a risk.
   • SDP: The $270,000 NOM Scheme cap is innovative but lacks specifics on flat types or fiscal impact. Building more flats is vague without a supply target, unlike PAP’s 50,000 or PSP’s 20,000/year.

3. Governance and Democracy:

   • PAP: Prioritizes stability and anti-corruption, avoiding structural reforms.
   • WP: Proposes an Ombudsman and GRC abolition for accountability, balancing reform with pragmatism.
   • PSP: Freedom of Information Act and GRC abolition push transparency, appealing to reformists.
   • SDP: POFMA reform, constitutional changes, and GLC divestment are radical, aligning with its democratic ethos, but may face resistance in Singapore’s conservative political culture.

4. Economic Growth:

   • PAP: Balances local and global needs, supporting PMETs and businesses.
   • WP: Enhances local talent via SkillsFuture, maintaining economic competitiveness.
   • PSP: A $2,250 minimum wage risks business costs but benefits workers.
   • SDP: Minimum wage and foreign labor reduction prioritize locals but lack specific figures, potentially disrupting Singapore’s globalized economy.

5. Social Safety Net:

   • PAP: Strengthens ComCare and Silver Support, building on proven systems.
   • WP: Simplifies assistance, focusing on healthcare and retirees.
   • PSP: Introduces caregiver allowances and MediSave expansion, resembling a basic income model.
   • SDP: NHIF and free maternal/pediatric care are ambitious but lack costings, while the Malay community plan and gender equality initiatives address inclusivity without specific actions.

Overall Assessment

• PAP: Appeals to voters valuing economic stability, strong governance, and proven leadership, attracting conservative voters, older generations, and middle to upper-income brackets. Its continuity is robust but may seem out-of-touch with reformists.

• WP: Offers a credible, pragmatic alternative, appealing to middle-class families, younger voters concerned about housing and education, and those desiring a stronger check on PAP. Its balanced approach is feasible but may lack transformative vision.

• PSP: Presents a bold platform for change, drawing support from younger demographics, lower-income workers, and reformists willing to risk significant change. Its ambition is appealing but faces feasibility challenges.

• SDP: Champions social justice and democratic reform, appealing to lower-income groups, youth, and reformists frustrated with inequality and governance restrictions. Its radical proposals (e.g., abolish PSLE, scrap CPF Minimum Sum) resonate with those seeking systemic change but risk alienating moderates due to limited electoral track record and vague costings.

The election outcome on May 3, 2025, will hinge on voter priorities—stability versus change—and how each party builds trust amid economic and social challenges.

The Singapore Democratic Party (SDP) released its manifesto for Singapore's 2025 General Election under the slogan “Thrive, Not Just Survive,” presenting a comprehensive set of policy proposals to address key national issues.

1. Cost of Living

The SDP highlights Singapore’s rising cost of living, driven by high housing prices, healthcare costs, and regressive taxation like the Goods and Services Tax (GST). The party critiques policies that burden the middle and lower classes while wealth concentrates among the elite.

• Tax Reforms:
  • Abolish GST on essential items (e.g., food, medicine, school supplies) to reduce costs of necessities. No specific list of items or fiscal impact estimate is provided.
  • Increase income tax on the top 1% of earners to fund social programs. No tax rate or revenue target is specified.
  • Reinstate estate duty to address wealth inequality. No thresholds, rates, or expected revenue are detailed.
• Ministerial Salary Reduction:
  • Cut ministerial salaries significantly, redirecting savings to aid lower-income households. No specific reduction amount or savings estimate is provided (current ministerial salaries: ~S$1.1M–S$3.2M annually, 2022 data).
• Minimum Wage:
  • Introduce a minimum wage to ensure a living wage. No specific wage amount (e.g., S$2,000/month) or implementation timeline is stated.
• Economic Transparency:
  • Enhance transparency in managing national reserves to ensure equitable use. No mechanisms (e.g., audits, parliamentary oversight) or reserve figures are specified.

2. Housing

The SDP criticizes the high cost of Housing and Development Board (HDB) flats, driven by land costs and the 99-year lease decay issue. The party proposes restructuring the housing system to prioritize affordability and sustainability.

• Non-Open Market (NOM) Scheme:
  • Cap HDB flat prices at S$270,000, excluding land costs, with flats sold back to HDB upon resale to maintain affordability. No details on flat types (e.g., 3-room, 4-room) or locations covered are provided (2024 BTO prices: ~S$300,000–S$600,000).
• Voluntary En-bloc Redevelopment Scheme (VERS):
  • Introduce a sustainable VERS to address lease decay, enabling collective redevelopment. No specifics on funding, scale, or eligible estates are mentioned.
• Increase Housing Supply:
  • Build more affordable flats to meet demand, reducing waiting times and prices. No specific figure for annual flat supply (e.g., 20,000 flats/year, as in 2024 HDB data) or demand metrics (e.g., marriage rates) is provided.

3. Jobs and Wages

The SDP aims to prioritize Singaporeans in employment, reduce reliance on foreign labor, and address wage stagnation, particularly for Professionals, Managers, Executives, and Technicians (PMETs), in a workforce where foreign workers comprise ~39% (2024 data).

• Minimum Wage:
  • Implement a minimum wage to ensure a living wage. No specific amount or benchmark (e.g., S$2,000/month) is provided.
• Talent Track Scheme:
  • Introduce a points-based system for foreign PMETs, prioritizing Singaporeans for hiring and retrenchment protection. No criteria (e.g., skills, experience) or quotas are specified.
• Foreign Labor Reduction:
  • Gradually reduce reliance on foreign workers to create opportunities for Singaporeans. No target percentage (e.g., from 39% to 30%) or timeline is stated.
• CPF Minimum Sum Reform:
  • Eliminate the CPF Minimum Sum Scheme (Full Retirement Sum: ~S$213,000, 2024) to provide retirement flexibility. No alternative savings mechanism is proposed.

4. Social Safety Net

The SDP seeks to strengthen social support, focusing on healthcare, marginalized communities, and gender equality, replacing complex schemes with accessible programs.

• National Health Investment Fund (NHIF):
  • Replace the 3M system (Medisave, Medishield, Medifund) with NHIF, where citizens contribute a fixed monthly amount, and the government funds the rest via taxes. No contribution amount (e.g., S$50/month) or total cost estimate is provided.
  • Make maternal and pediatric care mostly free. No scope (e.g., age limit for pediatric care) or budget is specified.
• Malay Community Upliftment:
  • Implement a 10-point plan to address economic inequality, education access, and discrimination. No specific actions (e.g., scholarship funding, employment quotas) or metrics are detailed.
• Gender Equality:
  • Promote women’s rights via the SDP Women’s Wing, focusing on healthcare, work-life balance, and anti-discrimination. No specific programs (e.g., subsidies, leave policies) or funding is outlined.

5. Education

The SDP critiques Singapore’s exam-driven education system for fostering stress and inequality, proposing reforms to prioritize holistic development.

• Abolish PSLE:
  • Eliminate the Primary School Leaving Examination (PSLE) to reduce student stress. No replacement assessment (e.g., portfolios) or transition plan is detailed.
• Smaller Class Sizes:
  • Reduce class sizes to improve learning. No target size (e.g., from 33.6 to 25 for primary, 2023 data) or funding estimate is provided.
• Holistic Curriculum:
  • Emphasize critical thinking, creativity, and socio-emotional skills. No specific curriculum changes or teacher training plans are outlined.
• Equal Opportunities:
  • Address socio-economic disparities in education. No interventions (e.g., subsidies) or disparity metrics (e.g., low-income student percentage) are specified.

6. Governance

The SDP addresses concerns over the People’s Action Party’s (PAP) dominance and restrictions on freedom of expression, seeking to enhance transparency and civil liberties.

• Ministerial Salaries:
  • Reduce ministerial salaries to align with public service ethos. No specific reduction amount is provided.
• Freedom of Speech:
  • Reform laws like the Protection from Online Falsehoods and Manipulation Act (POFMA) to protect constitutional rights. No specific mechanisms (e.g., judicial oversight) are detailed.
• Constitutional Reforms:
  • Strengthen civil liberties through constitutional amendments. No specific articles or amendments are specified.
• Government-Linked Companies (GLCs):
  • Divest inefficient GLCs to foster competition. No list of targeted GLCs or economic impact estimates is provided.
• Regional Democratic Partnerships:
  • Foster partnerships with democratic neighbors (e.g., Malaysia, Indonesia). No specific agreements or initiatives are outlined.

7. Environment

The SDP emphasizes environmental sustainability, addressing climate change and resource management in a densely populated nation.

• Climate Commitments:
  • Strengthen adherence to the Paris Agreement through emissions targets and renewable energy. No specific targets (e.g., 50% emissions cut by 2030) are provided.
• Electric Vehicles (EVs):
  • Provide incentives for EV adoption to reduce emissions. No details on subsidies (e.g., amount per vehicle) or infrastructure (e.g., charging stations) are included.
• Population Control:
  • Oppose population growth to 10 million, rejecting long-term planning scenarios (e.g., 2013 White Paper). No alternative population cap (e.g., 6M) is proposed.
• Haze Pollution:
  • Enforce the Transboundary Haze Pollution Act. No specific actions (e.g., fines, regional agreements) are detailed.
• Waste Reduction:
  • Reduce single-use packaging. No targets (e.g., 50% reduction by 2030) or mechanisms (e.g., bans) are specified.

Conclusion

Launched ahead of the May 3, 2025, General Election, the SDP’s manifesto reflects its social liberal democratic vision, emphasizing affordability, equity, and sustainability.

Key proposals, such as the S$270,000 HDB price cap and opposition to a 10 million population, include specific figures, but most policies (e.g., building more flats, minimum wage, class size reductions) lack quantitative details, such as numerical targets or cost estimates.

Implementation challenges include fiscal costs (e.g., NHIF, GST exemptions), political resistance to bold reforms (e.g., PSLE abolition, GLC divestment), and the SDP’s limited electoral success (no seats since 1997).

With HDB resale prices up 50% since 2020 and BTO waiting times stretching to five years, affordability and access are strangling young couples, singles, and retirees alike.

The 99-year lease model, once a cornerstone of stability, now looms as a ticking time bomb for ageing flats.

The PAP, WP, SDP and PSP have rolled out their housing manifestos, each claiming to fix voters' housing concerns.

But do they deliver?

PAP - more flats, same old tune

Flood the market with supply, tweak eligibilit, and tackle lease decay head-on

The PAP, Singapore’s ruling juggernaut, promises to build over 50,000 new HDB flats in three years—enough for an entire Ang Mo Kio town.

They’re doubling down on Shorter Waiting Time flats to cut BTO delays, exploring options for higher-income couples and singles, and pushing the Voluntary Early Redevelopment Scheme (VERS) to rejuvenate old estates like Kallang-Whampoa.

More flats don’t automatically mean cheaper flats

The Housing Price Index (HPI) ratio—median flat price to median income—hovers around 5-6, far from affordable for a $80,000-a-year household eyeing a $400,000 4-room BTO.

PAP’s reliance on grants, like the Enhanced CPF Housing Grant, is a band-aid, not a cure, when resale prices have soared 50% in five years.

VERS sounds promising but lacks teeth—its voluntary nature and vague compensation details leave residents guessing, unlike the more decisive Selective En bloc Redevelopment Scheme (SERS).

Expanding access for singles and higher-income groups is inclusive but risks diverting resources from lower-income families who can’t even dream of a $500,000 resale flat.

And while 50,000 flats sound impressive, global supply chain crunches and labor shortages could derail delivery, as seen in past construction delays.

Stability, not affordability

PAP’s plan is feasible, backed by HDB’s machine and approximately $1.2 trillion in reserves, but it’s incremental, not transformative.

PAP is betting on stability, not affordability, leaving young Singaporeans stuck in a cycle of grants and grit.

WP - bold on ideas, shaky on substance

The Workers’ Party takes a different tack, zeroing in on affordability with a promise to slash the HPI ratio to 3.0 or below—meaning a 4-room flat for a median-income family would cost no more than $240,000.

They propose 70-year BTO leases at lower prices, with an option to top up to 99 years, and a universal buy-back scheme to rescue retirees from depreciating flats.

To sweeten the deal, WP wants HDB to reacquire coffee shops and cap rents to inflation, easing living costs in estates.

Gutsy policy proposals but no clarity on how to fund it

WP's proposed housing policies speak directly to middle-class families and retirees crushed by prices.

An HPI of 3.0 would be a game-changer, making homeownership a reality, not a pipe dream.

The 70-year lease option is clever, offering flexibility for cash-strapped buyers, while the buy-back scheme tackles lease decay with precision, ensuring grannies in 40-year-old flats aren’t left penniless.

A very costly proposal

But ambition comes at a cost.

Dropping the HPI to 3.0 means slashing flat prices by 40-50%, requiring massive subsidies or land cost write-offs that could dent fiscal reserves or spike taxes.

The buy-back scheme, while noble, could cost billions if applied universally, and WP’s manifesto is mum on funding.

Worse, there’s no clear plan to boost flat supply, leaving waiting times untouched—a glaring blind spot when young couples are begging for faster BTOs.

WP’s heart is in the right place, but its wallet might not be.

PSP - radical vision, risky bet

The Progress Singapore Party swings for the fences with its Affordable Homes Scheme (AHS), scrapping BTOs to sell flats without land costs—recovered only on resale. This could halve prices, dropping a $400,000 flat to $200,000.

Singles aged 28+ get to buy 2- and 3-room flats anywhere, more flats will be built based on demand, and a Millennial Apartments Scheme offers short-term rentals in prime spots for young folks.

It’s a bold, youth-centric vision, promising to break the affordability curse and free CPF savings for retirement.

Revolutionary if it works, catastrophic if it flops

AHS is a stroke of genius on paper, tackling the root of high prices: land costs, which eat up half a flat’s value.

Letting singles buy at 28 in any estate is a nod to a growing demographic—30% of adults are single—while rental apartments cater to millennials delaying marriage.

But genius comes with glitches.

Deferring land costs guts government revenue ($20 billion yearly from land sales), risking budget shortfalls or reserve dips that Singapore’s fiscal hawks will savage.

Resale markets could tank as cheap new flats flood in, rattling homeowners’ wealth.

AHS demands a complete HDB overhaul, a bureaucratic nightmare to implement.

The Millennial Scheme sounds sexy but faces land scarcity in prime areas, limiting scale.

And PSP’s silence on lease decay is a fatal flaw—retirees with 30 years left on their flats get no lifeline.

It’s a high-stakes gamble: revolutionary if it works, catastrophic if it flops.

SDP - bold but tricky to execute

Slash prices with NOM flats, prioritize families, and secure retirements

The Singapore Democratic Party (SDP) proposes a transformative Non-Open Market (NOM) Scheme, selling HDB flats at cost—excluding land costs—for as low as S$70,000 (2-room) to S$240,000 (5-room).

NOM flats can’t be resold on the open market, only back to HDB, curbing speculation.

The Young Families Priority Scheme (YFPS) fast-tracks flat access for couples with kids, while singles, single parents, and low-income renters get broader eligibility.

An enhanced Lease Buy-Back Scheme offers seniors inflation-adjusted annuities, and a buffer stock of flats aims to slash waiting times.

A sophisticated Vickrey-Clarke-Groves (VCG) balloting system promises efficient allocation.

Affordability and inclusivity with a side of complexity

SDP’s NOM Scheme is a masterstroke for affordability, potentially cutting a 4-room flat from S$400,000 to S$160,000, freeing CPF savings for retirement and family needs.

YFPS directly tackles Singapore’s dismal 0.78 Total Fertility Rate by prioritizing young families, while inclusive policies for singles and single parents resonate with 30% of adults who are single.

The buffer stock and VCG system could shrink waiting times, addressing a key pain point.

The annuity-based Lease Buy-Back is a lifeline for retirees, ensuring dignity without depleting equity.

Bold but tricky to execute

NOM’s cost-recovery model, while appealing, risks government revenue losses similar to PSP’s AHS, though SDP’s resale restrictions may stabilize markets better.

Converting existing flats to NOM could spark legal or financial disputes over compensation.

The VCG system, while innovative, may confuse applicants unused to bidding premiums, and maintaining a buffer stock demands precise demographic forecasting to avoid oversupply.

Funding grants for low-income households (up to S$60,000) and annuities could strain reserves without clear fiscal plans.

SDP’s vision is bold and inclusive but hinges on complex execution and public buy-in.

Verdict

Singapore’s housing crisis—skyrocketing prices, endless waits, and lease decay—demands more than manifesto bravado.

• PAP offers stability and supply but ducks affordability, betting voters will trust its track record over flashy fixes. Its plan will keep the system humming but won’t ease the squeeze.

• WP’s price-slashing ambition and retiree focus hit the mark but stumble on funding and supply, risking empty promises. Its heart is right, but its math is shaky.

• PSP’s radical AHS and youth appeal are electrifying but teeter on fiscal recklessness, ignoring older voters’ fears and homeowners who see housing as their nest egg. Its vision is thrilling but could crash the economy.

• SDP balances affordability, inclusivity, and demographic fixes with NOM flats and family-focused policies, but its complex mechanisms and revenue risks need ironclad execution. Its plan is ambitious but navigates a tightrope.

GE2025’s housing debate exposes a truth - no party has a silver bullet. Voters must weigh stability against bold reform, affordability against fiscal prudence, and inclusivity against execution risks.

Comparative Analysis

The People's Action Party (PAP) launched their manifesto last Thursday (Apr 17), titled "Changed World, Fresh Team, New Resolve – Securing a Brighter Future for You."

Manifesto focuses on economic growth, education, social support, healthcare, housing, sustainability, arts, and social cohesion, with detailed initiatives in each area.

Here are the key points:

Economic Growth and Business Competitiveness

The PAP, as the ruling party, launched its manifesto on April 17, 2025, titled "Our Manifesto, Our Promise," at Infinite Studios. Prime Minister Lawrence Wong emphasized navigating global changes and defending Singapore's interests. Key proposals include:

• Enhancing support for Professionals, Managers, Executives, and Technicians (PMETs) to thrive in a dynamic economy.
• Nurturing Singaporean corporate leaders to drive local and global success, ensuring leadership in key industries.
• Strengthening fair employment practices through legislation like the Workplace Fairness Act to protect workers' rights.
• Maintaining Singapore's reputation as a reliable business hub, crucial for attracting foreign investment.
• Investing in transport and digital infrastructure to enhance connectivity and efficiency, supporting business operations.
• Adopting cutting-edge technologies, including Artificial Intelligence (AI), to boost productivity and innovation.
• Securing clean energy sources, with exploration of nuclear power, to ensure sustainable economic growth.
• Easing cost-of-living pressures through tax rebates and the Progressive Wage Credit Scheme, directly benefiting lower-income workers.
• Enabling businesses to upgrade productivity through technological and operational advancements.
• Facilitating access to manpower and capital for businesses to scale and innovate.
• Supporting companies in expanding into new markets, enhancing Singapore's global economic footprint.

Education and Skills Development

Education is framed as a cornerstone for future success, with a focus on inclusivity and lifelong learning:

• Redefining success to value diverse talents, moving beyond traditional academic metrics to recognize varied abilities.
• Customizing education to cater to diverse abilities and interests, ensuring no student is left behind.
• Investing in teachers' professional development to maintain high educational standards and adapt to new teaching methods.
• Partnering with parents, industry, and communities to deliver holistic education, fostering well-rounded development.
• Building four new Special Education (SPED) schools by 2030 to support students with special needs.
• Establishing additional early intervention centers to identify and support developmental needs early.
• Extending the Development Support-Learning Support Programme to more preschools, enhancing early childhood education.
• Empowering Singaporeans to reskill and upskill through accessible programs, preparing them for future job markets.
• Supporting companies in redesigning jobs and investing in worker training, aligning education with industry needs.
• Introducing the SkillsFuture Jobseeker Support Scheme to aid job seekers, particularly during economic transitions.

This pillar aims to build a flexible and inclusive education system, though challenges may arise in scaling these initiatives effectively.

Social Support and Inclusion

Social support is a critical focus, aiming to uplift vulnerable groups and ensure inclusivity:

• Strengthening ComCare and Silver Support schemes to provide financial assistance to low-income and elderly citizens.
• Enhancing Workfare to support lower-wage workers, ensuring they benefit from economic growth.
• Extending Progressive Wages to more sectors, aiming to raise wages for lower-income workers systematically.
• Providing individualized support for lower-income families via ComLink+, tailoring assistance to specific needs.
• Increasing childcare subsidies for disadvantaged families to ensure regular preschool attendance, promoting early education.
• Strengthening post-18 transitions for young adults, supporting their entry into the workforce or further education.
• Boosting employment opportunities for Persons with Disabilities (PwDs) through targeted initiatives, promoting inclusivity.
• Increasing subsidies for adult disability services to improve accessibility and quality of care.
• Piloting community living models for independent living, empowering PwDs to live autonomously.

These measures aim to create a more inclusive society, though their impact may vary based on funding and community uptake.

Healthcare and Well-Being

Healthcare initiatives are designed to cover the entire lifespan, ensuring comprehensive care:

• Launching Grow Well SG for children and adolescents, focusing on early health and development.
• Implementing Healthier SG for adults, promoting preventive care and healthy lifestyles.
• Introducing Age Well SG for seniors, ensuring dignified aging with adequate support.
• Innovating healthcare delivery through the Queenstown Health District, serving as a model for integrated care.
• Adding 13,600 new hospital beds over five years to meet growing healthcare demands.
• Redeveloping Alexandra Hospital to enhance facilities and services.
• Opening Eastern General Hospital by 2030, expanding healthcare capacity in the east.
• Growing the healthcare and nursing workforce to address staffing shortages and improve care quality.
• Establishing a National Mental Health Office to coordinate efforts and expand access to mental health services.
• Expanding access to mental health services across communities, addressing a critical public health need.

These initiatives aim to build a robust healthcare system, though challenges may include workforce retention and funding sustainability.

Housing and Urban Development

Housing remains a priority, addressing both supply and quality of living:

• Building over 50,000 new HDB flats in three years, equivalent to an entire Ang Mo Kio town, to meet housing demand.
• Increasing Shorter Waiting Time flats to reduce waiting periods for new homes.
• Exploring public housing options for higher-income couples and singles, expanding access to HDB housing.
• Ensuring a stable and sustainable property market through decisive measures, balancing supply and demand.
• Rejuvenating HDB towns through the Voluntary Early Redevelopment Scheme (VERS), with examples like Mount Pleasant, Kallang-Whampoa ("white flats"), and Bayshore (waterfront living at East Coast Park).

These efforts aim to ensure affordable and quality housing, though market dynamics may pose implementation challenges.

Sustainability and Green Spaces

Sustainability is a key focus, balancing urban development with environmental care:

• Creating 25 new parks to enhance green spaces for recreation and biodiversity.
• Developing 50km of park connectors to improve connectivity for pedestrians and cyclists.
• Establishing 13 therapeutic gardens to support mental and physical well-being.
• Developing a second marine park at Lazarus South and Kusu Reef, protecting marine ecosystems.
• Building new MRT lines, including Jurong Regional and Cross-Island Lines, to enhance public transport.
• Extending existing MRT lines and enhancing bus services to improve accessibility and reduce car dependency.

These initiatives aim to create a sustainable urban environment, though their success may depend on community engagement and funding.

Arts, Culture, and Sports

Arts and culture are highlighted as vital for quality of life and national identity:

• Expanding the SG Culture Pass to provide broader access to cultural experiences, promoting arts appreciation.
• Promoting early arts exposure in schools and preschools, fostering creativity from a young age.
• Offering more arts apprenticeships and scholarships to support emerging artists.
• Providing additional arts spaces and support for artists, enhancing the cultural ecosystem.
• Establishing a new Museum of Design to showcase creativity and innovation.
• Developing Kallang Alive, including a new indoor arena and home for Team Singapore, boosting sports infrastructure.
• Building new sports facilities in Clementi, Punggol, and Toa Payoh, and upgrading existing ones in Hougang, Pasir Ris, and Queenstown.

These efforts aim to enrich cultural and sporting life, though their impact may vary based on public participation.

Social Cohesion and Civic Engagement

Social cohesion is framed as essential for national unity and resilience:

• Fostering a strong Singaporean identity rooted in shared values and experiences.
• Upholding multi-racial and multi-religious values, ensuring harmony and inclusivity.
• Enhancing integration efforts to build a cohesive society, particularly for new citizens.
• Maintaining Singapore as an oasis of peace, emphasizing stability in a turbulent world.
• Nurturing a culture of giving by connecting donors and volunteers with those in need, promoting community support.
• Increasing avenues for civic participation, empowering citizens to contribute to nation-building.
• Strengthening partnerships between the government and the people, fostering collaborative governance.

These measures aim to build a united and engaged society, though their effectiveness may depend on community buy-in.

Summary Table