Highlights: Budget 2023 announcements by Finance Minister Lawrence Wong

From higher cash payouts to increased housing grants, here are the highlights of the major announcements in this year's Budget statement.

Budget 2023: Singaporeans to get higher cash payouts under Assurance Package, GST Voucher scheme

All adult Singaporeans will receive between S$700 and S$2,250 in total over the five years of the Assurance Package.

Budget 2023: CPF monthly salary ceiling will be raised from S$6,000 to S$8,000 by 2026

The increase was to “keep pace with rising salaries” and would help middle-income Singaporeans save more for their retirement, said Finance Minister Lawrence Wong in his Budget speech.

Budget 2023: Up to S$30,000 more in housing grants for families buying resale flats for the first time

More support will also be given to young couples and families with children applying for Build-To-Order flats for the first time.

Budget 2023: Baby Bonus increased by S$3,000, with payouts until child turns six-and-a-half

Parents of babies born today (Feb 14) and after will receive a Baby Bonus of S$11,000 each for their first and second child, and S$13,000 for their third child and beyond.