Prime Minister Lee Hsien Loong wished Singaporeans growth and success in 2024, and that we enter the new year with renewed vigour on the first day of 2024.

In his New Year message, PM Lee reflected on the year passed, noting the key events happened internationally and domestically. While the future remains "uncertain", PM Lee encouraged Singaporeans to face the new year as "one united people".

"Let us face 2024 invigorated and confident, as one united people. The future may be uncertain, but our path is clear. I call on every Singaporean to come together to fulfil our aspirations, and secure a bright future for Singapore.

I wish all Singaporeans a Happy New Year!"

Reminds Singaporeans to approach potentially divisive issues with tolerance and respect

PM Lee concluded that 2023 was a "challenging" year and the international environment remains "troubled", citing tension between the U.S. and China, as well as the fighting in Ukraine and, most recently, the Israel-Hamas conflict.

He expressed his gratitude towards religious and community leaders in providing wisdom and support to ensure social cohesion in Singapore amid these events happening abroad.

PM Lee also reminded Singaporeans to approach potentially divisive issues like the Israel-Hamas conflict with tolerance and respect towards one another's views to preserve the racial and religious harmony in Singapore.

"We have painstakingly built up our racial and religious harmony over decades as a fundamental basis of Singaporean society. We must continue to approach potentially divisive issues like the Israel-Hamas conflict with tolerance and respect towards one another’s views."

PM Lee also described President Tharman Shanmugaratnam's win as "one good sign that we are making progress towards becoming one nation, regardless of race, language or religion".

GST hike

While Singapore saw 1.2 per cent growth and avoided recession in 2003, PM Lee noted that households still feel the pressure of higher costs of living.

As Goods and Services Tax (GST) increases to nine per cent in 2024, PM Lee also explained that the extra revenue from the increase in GST will help the government pay for growing healthcare expenses as Singapore's population ages.

However, households will also continue to receive the Assurance Package in 2024 which hopefully can help them cope with the impact of the GST hike.

"I hope the Government's many assistance schemes have helped to relieve the burden on households," PM Lee said.

Less favourable external environment ahead

Looking forward, PM Lee cautioned that the external environment will be less favourable to Singapore's security and prosperity in the coming years.

Geopolitical uncertainties will continue weighing on the global economy, PM Lee said.

Closer to home, tensions and risks over rival claims in the South China Sea, and because of the cross-Strait situation, confidence in our region and our growth can be affected, he added.

Climate change will pose a major challenge as well, and Singapore has to adapt and transition to an economy with net-zero carbon emissions even if this change will be "costly and demanding".

Government continues to support businesses and people

But there is still a reason for hope and confidence, PM Lee encouraged.

"Rapid technological progress, especially in artificial intelligence and robotics, holds great promise for our businesses and people."

He added that the government will continue to support both businesses and employees in upgrading operations and upskilling so as to maintain our competitiveness.

The government will also continue to support lower-income families and vulnerable groups and build affordable and accessible public housing for Singaporeans.

Physical infrastructure and social safety nets will be enhanced, and our healthcare system will be transformed to care for the ageing population.

2024 will also be the year when Deputy Prime Minister Lawrence Wong is expected to take over PM Lee as the Prime Minister, PM Lee said.

"I urge Singaporeans to stand together, give your full support to [Wong] and his 4G team, and work with them to build a nation that is vibrant and inclusive, fair and competitive, and resilient and united."

In November 2023, PM Lee announced that he would hand over the reins of the People's Action Party (PAP) before the next General Elections (GE).

The next GE is due to take place no later than Nov. 23, 2025.

Top photo via PM Lee/Facebook