Close Menu
  • Home
  • AI & Technology
  • Politics
  • Business
  • Cryptocurrency
  • Sports
  • Finance
  • Fitness
  • Gadgets
  • World
  • Marketing

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Ethereum Price Crash Or Rebound? Why $4,000 Holds The Key

July 31, 2025

Chainlink Acknowledged By The White House As Key Player In Crypto Infrastructure

July 31, 2025

PENGU Down 11%, But These TA Signals Could Point To Rebound

July 31, 2025
Facebook X (Twitter) Instagram
  • Home
  • About US
  • Advertise
  • Contact US
  • DMCA
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram
MNK NewsMNK News
  • Home
  • AI & Technology
  • Politics
  • Business
  • Cryptocurrency
  • Sports
  • Finance
  • Fitness
  • Gadgets
  • World
  • Marketing
MNK NewsMNK News
Home » Singapore’s Ruling Party Keeps Majority in Victory for Wong
Finance

Singapore’s Ruling Party Keeps Majority in Victory for Wong

MNK NewsBy MNK NewsMay 4, 2025Updated:May 5, 2025No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


(Bloomberg) — Singapore’s ruling party secured a convincing victory in Saturday’s election as voters worried about rising costs and a worsening global economic climate rallied behind incumbent Prime Minister Lawrence Wong in his first electoral test since taking office a year ago.

Most Read from Bloomberg

Official results from the nation’s elections department showed the People’s Action Party winning 87 of the 97 seats up for grabs. The opposition Workers’ Party claimed 10 seats, the same number they had in the previous parliament, which had fewer total seats.

Wong thanked supporters in his district early on Sunday for the “strong mandate” they gave him and the party, and later pledged to redouble efforts to tackle cost of living pressures.

“The results will put Singapore in a better position to face this turbulent world,” he said during a press conference after 3 a.m. local time. “It’s a clear signal of trust, stability and confidence in your government.”

Perhaps most importantly for Wong, the PAP saw its share of the total vote rise from a near record low in 2020. The party secured almost 66% of the popular vote this year compared to about 61% in the previous election. Those results will be greeted with a huge sigh of relief by the ruling party, which rolled out a series of measures including billions in subsidies to bolster its mandate since the last election.

The results may underscore how voters in countries disrupted by US President Donald Trump’s trade wars are increasingly rallying behind incumbent governments. Singapore’s election came on the same night that Australia’s ruling Labor Party won an overwhelming mandate to form the next government, and less than a week after Canada’s Liberal Party did the same despite being behind in the polls a few months ago.

Read: In Singapore’s Election, the Margin of Victory Is Everything

Saturday’s election looks set to put to rest any doubt in the PAP’s leadership about Wong, 52, who took over from two-decade former incumbent Lee Hsien Loong last year and is just the city-state’s fourth prime minister. The party’s 2020 result — in which it still retained 89% of the seats in parliament — raised hopes among some voters at the time of a stronger, lasting opposition presence in politics.

For the Workers’ Party, supporters were disappointed that it didn’t make further headway despite having new candidates with strong credentials. Still, the main opposition party managed to improve its share of the popular vote to almost 15% versus 11.2% in 2020.

Lim Tean of the opposition coalition People’s Alliance for Reform said the results are “disappointing not just for PAR but for the entire opposition.” His party lost in all six districts it contested.

Singapore Election 2025: TOPLive Transcript

The PAP sought to win back support after the humbling 2020 vote by tightening entry requirements on some foreign workers, easing access to public housing for younger citizens and repealing a long-standing law barring sex between men.

With the PAP’s position secure, attention will quickly turn to how the country navigates the coming months. Few countries have more at risk from a global trade war than Singapore, which turned itself from a colonial port into a global financial and trading hub in just a couple of generations following independence.

That transformation earned the PAP a lot of loyalty. Singaporeans enjoy one of the highest standards of livings in the world, in a city that boasts modern public transportation, efficient health care and a public housing program that’s allowed nine out of 10 citizens to own a home.

But the “little red dot,” as the country refers to itself, isn’t immune to the changes roiling the world. The Ministry of Trade and Industry recently lowered the country’s 2025 growth forecast to 0-2% from a 1%-3% estimate in February. That’s down from a 4.4% expansion in 2024.

Saturday’s results show Wong will have all the support he needs to continue his social welfare agenda and navigate trade tensions without much fuss on the other side of the aisle. All told, he announced plans this year to spend almost S$124 billion ($95 billion) on everything from airport upgrades to vouchers for supermarkets and elder care.

Going forward, Wong will likely seek to continue striking a balance between China, the country’s biggest trade partner, and the US, its biggest source of foreign direct investment.

“Despite our limitations as a small state, we cannot afford to be a passive bystander,” he said during a speech last month. “Singapore today is not without agency.”

–With assistance from Justina T. Lee, Jasmine Ng, Joyce Koh, Ishika Mookerjee, Reinie Booysen, Yongchang Chin, Jon Herskovitz, Natalie Choy, Rachel Yeo, Katharine Gemmell, Low De Wei, Nurin Sofia and Audrey Wan.

(Updates with Wong’s remarks in the 4th paragraph)

Most Read from Bloomberg Businessweek

©2025 Bloomberg L.P.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
MNK News
  • Website

Related Posts

Rite Aid files for bankruptcy — again

May 6, 2025

How to Track Driver Performance Without Micromanaging

May 6, 2025

Ford says its Q1 profit fell by two-thirds and it expects a $1.5 billion hit from tariffs this year

May 6, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Top seeds Zverev, Gauff advance at Canadian Open – Sport

July 31, 2025

Marchand returns to global stage with 200 medley world record – Sport

July 31, 2025

Pakistan veterans team into WCL final after Indian players forfeit semi-final – Sport

July 30, 2025

German mountaineer Laura Dahlmeier confirmed dead after attempting Laila Peak summit – Pakistan

July 30, 2025
Our Picks

Ethereum Price Crash Or Rebound? Why $4,000 Holds The Key

July 31, 2025

Chainlink Acknowledged By The White House As Key Player In Crypto Infrastructure

July 31, 2025

PENGU Down 11%, But These TA Signals Could Point To Rebound

July 31, 2025

Recent Posts

  • Ethereum Price Crash Or Rebound? Why $4,000 Holds The Key
  • Chainlink Acknowledged By The White House As Key Player In Crypto Infrastructure
  • PENGU Down 11%, But These TA Signals Could Point To Rebound
  • Top seeds Zverev, Gauff advance at Canadian Open – Sport
  • Marchand returns to global stage with 200 medley world record – Sport

Recent Comments

No comments to show.
MNK News
Facebook X (Twitter) Instagram Pinterest Vimeo YouTube
  • Home
  • About US
  • Advertise
  • Contact US
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 mnknews. Designed by mnknews.

Type above and press Enter to search. Press Esc to cancel.