Lim Tean1-tile SINGAPORE: A recently published report, “ Minimum Income Standard 2023: Household Budgets in a Time of Rising Costs ,” unveils figures detailing the necessary income households require to maintain a basic standard of living, using the Minimum Income Standard (MIS) method.
The newly released study, spearheaded by Dr Ng Kok Hoe of the Lee Kuan Yew School of Public Policy (LKYSPP) specifically focuses on working-age households in 2021 and presents the latest MIS budgets, adjusted for inflation from 2020 to 2022.
The report detailed that: The “reasonable starting point” for a living wage in Singapore was S$2,906 a month. […]
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