Budget 2024: Lower-wage workers to get larger Workfare payouts

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The Workfare Income Supplement scheme, or Workfare, was instituted to supplement the incomes and Central Provident Fund (CPF) savings of lower-wage Singaporean workers to encourage them to work regularly. 

Enhancements to Workfare are part of a slew of measures he announced to create more paths towards equality and mobility.

In many developed countries, rising inequality and slowing social mobility have fractured cohesion and deeply divided their peoples. These can create similar pressures here.

Workfare and progressive wages are key strategies to uplift lower-wage workers

More support will also be provided for employers who raise lower-wage workers’ salaries. In 2022, the Progressive Wage Credit Scheme was introduced, where the Government co-funds the wage increases of lower-wage workers with employers.

Income inequality, as measured by the Gini coefficient, has declined to its lowest level over two decades

Qn:

Is inclusivity for all a mere a utopian ideal?