Budget 2026 Roundtable: Can Singapore Raise Wages Without Losing Competitiveness?

Budget 2026 continues Singapore’s push to uplift wages and strengthen the local workforce, including raising the Local Qualifying Salary from S$1,600 to S$1,800 and tightening salary thresholds for Employment Pass and S Pass holders. The move reflects a broader effort to upgrade jobs and lift incomes while keeping Singapore competitive as a global business hub.

But as hiring costs rise, businesses are weighing the implications. Are SMEs feeling the squeeze as wage floors move up?

Ryan Huang moderates a panel with Shawn Huang, Senior Parliamentary Secretary for Finance & Manpower, Lee Sze Yeng, Managing Partner, KPMG in Singapore, Ang Yuit, President at ASME, and Max Loh, Vice-Chair, Singapore Institute of Directors.

Watch the full discussion on MONEY FM 89.3's YouTube channel: https://youtu.be/_ZIxGRaoCY8

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