Singapore is using cash and incentives to avert a demographic crisis
Singapore has introduced a significant financial incentive package to encourage citizens to have more children and combat its declining fertility rate. The government aims to provide consistent support throughout a child's upbringing rather than just at birth.
Why it matters
Singapore's demographic crisis reflects a broader trend in developed Asian economies, and its policy response serves as a test case for state-led population management.
Tiny Singapore is throwing cash and incentives at its citizens to avoid a long-term demographic crisis, but it may take many years before the level of success becomes clear.
The city-state recently unveiled a series of new measures aimed at removing obstacles to having children, including a promise of over S$60,000 ($47,100) to support every citizen child from birth to age 17 in what is seen as its largest effort yet to encourage its citizens to have more babies.
Prime Minister Lawrence Wong described the effort as "more than incremental improvements or changes to individual schemes. We want to make a fundamental shift in how we support families."
One challenge for policy makers, however, is that success on many measures won't show up immediately.
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