Impact of CDC Vouchers on Cost-of-Living

Parliamentary Question by Mr Lee Hong Chuang:

To ask the Prime Minister and Minister for Finance whether giving out CDC Vouchers to every Singaporean household regardless of socioeconomic status result in worsening cost-of-living due to demand-pull inflation.

Parliamentary Reply by Senior Parliamentary Secretary for Finance, Mr Shawn Huang:

Mr Speaker, the CDC Vouchers Scheme is one of several measures introduced to help Singaporeans manage their cost of living.

There is no evidence that CDC Vouchers Scheme has worsened the cost-of-living due to inflation. CPI-All items inflation has moderated in recent years, from 4.8% in 2023, to 2.4% in 2024, and 0.9% in 2025, even though the quantum of CDC Vouchers increased over the period.