SINGAPORE: Prime Minister Lawrence Wong will deliver his first National Day Rally speech on Aug 18.

The event will be held at the Institute of Technical Education (ITE) College Central at Ang Mo Kio, the Prime Minister’s Office (PMO) said on Wednesday (Jul 10).

The National Day Rally is seen as the most important political speech of the year when the Prime Minister addresses the nation and shares key policy matters. 

Mr Wong, 51, was sworn in as Singapore’s fourth Prime Minister on May 15, the country’s first leadership transition in 20 years. 

At the last National Day Rally in 2023, then-Prime Minister Lee Hsien Loong announced several developments on the housing front, along with a new S$7 billion Majulah Package to help seniors meet their retirement needs.

Among the major changes was a new housing classification system for Build-to-Order (BTO) projects from the second half of 2024 – a move away from the decades-old labels of mature and non-mature estates.

The new categories – Standard, Plus or Prime – come with different resale conditions.

Plus flats will be in “choicer locations” within each region, such as near MRT stations and town centres, said Mr Lee. They will have a 10-year minimum occupation period and flat owners will have to return to the Housing Board a portion of the resale price that is reflective of extra subsidies they receive, if they choose to sell the flat. 

He also announced the Majulah Package, which will help Singaporeans aged 50 and above to get more money in their Central Provident Fund (CPF) accounts to boost their retirement savings.

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