Enhanced work-life Balance
vying for the financial relief of high child-care costs
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Victory Party
Current challenges
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Worrying decline in birth rates in Singapore
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High cost of living and raising children
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Increasing stress from work
how Victory plans to overcome these challenges
To improve Singaporean birth rates, we need to implement substantial reforms to improve families’ quality of life. Greater financial support will help ease the burden of families with young children to a great extent.
We propose funds to be allocated to the CDA of all parents automatically and the quantum should be standardized to $10,000 for each child, instead of the current dollar-for-dollar matching practice.
How will this help?
This will narrow the income gap between the high and low-income families while allowing parents to have the option of topping up the CDA up to $10,000 for each child to earn higher interest which would encourage parents to set aside savings for their children’s education and well-being.
enhanced child development account (CDA)
Progressive tax credits & reliefs for low to middle income parents of young children up to 18 years old
Scaled-back tax support for lower-income families
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