Singapore tackles finances and culture to avert a demographic crisis

Singapore will provide more than S$60,000 in support for every citizen child from birth to age 17, alongside lower childcare fees, expanded childcare leave and greater housing priority for first-time families. NTU’s Asst Prof Chua Yeow Hwee told CNBC that the new approach recognised that the financial cost and time cost of raising children continue for many years. It is more promising than a one-off bonus, as it gives parents more certainty that support will be there as a child grows.

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