Singapore Budget 2025: how audiences respond to narratives on media and social
The Singapore budget is here and audiences are mindful of the new announcements more than ever. Cost-of-living directly affecting housing, managing enterprise businesses and easy cash benefits are what audiences are paying close attention to.
In anticipation of the budget, we analysed 30k mentions of audience conversation on Facebook, TikTok, Online News, YouTube, TV, Forums, X, Radio, Print News, Threads and Reddit in Singapore between January 1st 2025 – February 20th 2025. What’s fascinating to see is that the interest in the budget, especially by young Singaporeans, rises every year. We’re also quick to analyse how the conversation pans out this year.
Last year’s budget generated the highest level of public conversation compared to previous years, reflecting growing interest and concern over economic policies. Each year, discussions spike around budget announcements with focus on cost-of-living relief, business support, and long-term economic planning under Forward Singapore.
GST hikes from 7% to 9% in the past two years from 2022 to 2024 and economic support measures in the budget of 2023, have led to increased conversation.
Cost of living and voucher benefits make up the majority of the debate online. The budget was introduced as the “budget for the future”, but some viewed the announcements as damage control measures. Young Singaporeans are worried about future prices for public housing and question why private housing prices are sky-high. Some are concerned about the quality of jobs like contract work, gig economy jobs, or even unstable employment.
On a brighter side, audiences on Facebook and Reddit, where the majority of the conversation is happening, also logically break down these relief measures by realising that jobs in Singapore depend on global trends and that the government cannot mass-create jobs for everyone. The more important factor to consider is how jobs are matched on a technical and soft-skills basis. SkillsFuture benefits are a way of up-skilling and are an add-on that might not guarantee everyone a job-talent match necessarily, but draw them closer to getting employed in a field of their choice.
PM Wong introduced a slew of voucher credits under the ActiveSG, LifeSG, Climate Voucher schemes, alongside Medisave top-ups, utility rebates, and personal income tax rebates.
However, Singaporeans are being more judicious with their finances, and are doubtful how immediate cash payouts and Community Development Council (CDC) vouchers work for them on a long-term basis. On the contrary, some expected more cash payouts that provide instant relief to deal with rising costs, as opposed to vouchers that are accessible only to a few merchants and limited to specific uses.
Online and alternative news media have prompted how these narratives take shape. What’s interesting to note is that alternative news media is more in quantity compared to mainstream media that usually wins because of a higher volume of mentions and credibility.
Journalists from alternative media sources like the Independent Singapore stress on individual Singaporean concerns, rather than larger issues. The focus is on how young mid-level workers in Singapore feel financially concerned about managing income with rising costs that could directly affect their family members.
Many of these news sources also have Facebook pages where audience discussions thrive. Many praised the budget for providing relief to low and middle income families and appreciate the SG60 voucher scheme promised to all citizens. They do, however, question how these can be converted to cash, giving us an indication of the majority of audiences wanting some sort of instant financial gratification.
Social media sites rise to the top when it comes to the volume of how content travels across online sources. X, The Straits Times and Facebook see the highest volume in terms of engagements by audiences. On X, for example, the SG budget, bilateral ties with other ASEAN nations and the infrastructure projects are in focus.
For the Singapore budget specifically, upgrading of older HDB flats and ties with Malaysia through SEZ projects make up the majority of the conversation online.
One very important medium to point out are podcasts that have easily become a favourite with young Singaporeans. They’re okay at watching long form content that informs them about budget benefits.
For example, the Daily Ketchup, a quirky news commentary podcast on the happenings in Singapore, touches upon topics around how married homebuyers with children get top priority for HDB BTO (Build-to-order) flats under recent policy updates. They discuss how raising a baby in Singapore is not cheap, but with the Large Families Scheme introduced in the latest budget, young couples have more benefits to support them in growing a family.
Every year the budget becomes a hot topic for a conversation starter and welcomes a mixed bag of responses. What’s important to learn from this year’s budget is that it might not solve all issues at hand, and cannot attempt to perfectly answer the “what’s in it for me?” question. It’s more a way of future proofing and becoming self-reliant, following the Forward Singapore guidelines. Only time will tell how these measures can get truly institutionalised and understood by audiences, giving us a sense of what we can expect for the upcoming General Election this year.
Nikita Gundala manages brand marketing and thought leadership for Pulsar Group across the SEA and ANZ markets. With over three years of first-hand experience in the influencer marketing and PR industries, she specializes in translating real-time insights and audience intelligence into actionable content. Nikita holds a master’s in Marketing and Digital from ESSEC Business School, Singapore. She has contributed to the wider industry conversation by co-authoring articles and reports for The Business Times Marketing Interactive.
If there’s one topic Australians never tire of debating, it’s housing. Whether it’s at the pub, around the dinner table, or dominating headlines, property prices, rent hikes and the “can I ever afford a home?” questions are constant fixtures of the national conversation.
But let’s be honest—rising house prices aren’t new. What is changing is how the conversation is evolving, who’s shaping it, and which narratives are starting to stick.
Using Lumina’s Stories and Perspectives, we analysed 19 stories and over 50 perspectives across a 30-day period from 15 March to 14 April 2026 to understand what’s actually driving the housing narrative in Australia right now—and why it matters.
Which are the stories shaping conversation and who's driving it?
▸Housing Supply and Affordability Divide — Analysts and economists link supply shortages directly to soaring prices. Cities that built more homes saw far less price growth.
Key drivers: Gerard Burg (Cotality), Peter Tulip (Centre for Independent Studies), Australian Associated Press
▸Tax Reform Debates Heat Up Ahead of Budget — 14 competing perspectives. Advocates say reforms are essential for fairness; the property industry warns they’ll push rents up 30%.
Key drivers: Anthony Albanese, Jim Chalmers, Angus Taylor, Housing Industry Association, Saul Eslake
▸Grattan Institute Connects Housing to Democratic Trust — A major report argues that the housing crisis is eroding public confidence in democracy itself.
Key drivers: Aruna Sathanapally, Grattan Institute
Australians make housing supply the biggest story
This perspective was 100% of the coverage of this story and generated 85 media items, making it the most widely covered story of the entire period. The main insight is the public drawing a direct line between housing supply levels and property prices across Australia’s capital cities.
Perth and Brisbane, where home construction has lagged well behind population growth since the pandemic, have seen property values surge massively. Meanwhile, Victoria — which built a proportionally higher number of new homes — saw less growth, compared to the national average.
It ran everywhere from PerthNow to regional papers across NSW and Victoria. The fact that the Australian Associated Press syndicated the data meant it hit dozens of outlets simultaneously.
The key drivers are property analysts Gerard Burg from Cotality and Peter Tulip from the Centre for Independent Studies. Both are pushing the same message. If you want to fix affordability, you have to fix supply. Their proposed solution is liberalising zoning laws, particularly in NSW and Victoria, to allow more homes to be built faster.
Why does this matter for communicators?
This story had the widest media footprint of the entire period, reaching outlets from The West Australian to regional mastheads across the country. If your organisation operates in housing, property, or urban planning, the “supply-equals-affordability” narrative is now firmly established in public discourse, and therefore, your messaging needs to account for it. Audiences know of the supply argument before, and with experts aligned on the issue, it’s harder for policymakers to dismiss it easily.
It’s also worth noting how the analysis around who the key drivers are adds a layer traditional media monitoring might miss. The AAP’s role as the primary distribution channel meant this story reached dozens of the bigger mastheads like PerthNow and The West Australian and hyperlocal outlets like the Cobram Courier and Benalla Ensign, simultaneously. For communicators, this distribution pattern indicates that a story has penetrated both metropolitan and regional audiences, making it impossible to dismiss as just a capital-city concern.
Tax reform rebates are the most contested story of the month
The housing tax reform debate was the most contested generating 14 distinct perspectives across 23 media items becoming by far the most multi-sided story of the month. However, the top three perspectives were the most interesting to look at considering how disputed the opinions of either side are and sit at the highest level in the government.
At the centre of it is the Albanese Government’s consideration of reducing the capital gains tax discount and limiting negative gearing ahead of the May budget. The country is essentially split down the middle on this one.
Perspective 1: This made up for 34.8% of the story coverage. Prime Minister Anthony Albanese, Treasurer Jim Chalmers, and housing advocacy group Everybody’s Home are arguing that the current system unfairly benefits wealthy investors while locking out first-home buyers. Economist Saul Eslake backs this view. Together, they account for about a third of the story’s total coverage.
Perspective 2: This had an equal share in coverage at 34.8% of the story. Opposition figures Angus Taylor, the Housing Industry Association, and Victorian Libertarian Party Leader David Limbrick are warning that scrapping these tax incentives will scare off investors, shrink rental supply, and push rents up by as much as 30%. They command an equal share of the conversation (Herald Sun).
What’s interesting is what sits beneath these two dominant perspectives. A third angle that was 17.4% of the story coverage was driven by Chalmers and Greens Senator Nick McKim, frames the whole debate as a question of intergenerational fairness. And then there are the young “rentvestors” who rent where they live but own an investment property elsewhere. They’re worried about getting caught in the crossfire of changes that weren’t designed with them in mind (Australian Financial Review).
Trust is eroding in the Australian democracy — and housing is the problem
The Grattan Institute released a report warning that trust in Australian democracy is under pressure, and housing is one of the reasons why. This soon became the second biggest story, generating 58 media items.
Led by Grattan CEO Aruna Sathanapally, the report argues that persistent inequality, including the housing affordability gap, is eroding the social contract between citizens and government. The report explicitly names the housing crisis as one of the major unresolved challenges fuelling public disillusionment. Sathanapally is the key driver of this story, commanding over 93% of its coverage. Her influence matters because she’s reframing housing as something bigger than an economic problem. She’s positioning it as a threat to democratic stability. That’s a powerful narrative shift, and one that gives housing advocates a new way to make their case.
For anyone in public affairs or government communications, this connection between housing and democratic trust is worth watching. It’s the kind of framing that can reshape how policymakers prioritise the issue.
Know which side of the debate your audience sits on: The tax reform story alone has 14 perspectives. If you’re crafting messaging around housing policy, understand which perspective your stakeholders identify with and who they consider a credible voice. A one-size-fits all approach might not work.
Follow the key drivers, not just the headlines: The unexpected pairing of Greens Senator Nick McKim with Treasurer Chalmers on intergenerational fairness suggests this issue is cutting across traditional party lines in ways that could reshape coalition dynamics. Meanwhile, the "rentvestor" audience represents a politically orphaned group that neither side of the debate is referencing or considering, making them a potential swing audience whose concerns could quietly shape how any reform actually lands.
Watch the emerging narratives: One Nation’s growing support, the “rentvestor” demographic, and the connection between housing and democratic trust are all stories that could become dominant in the months ahead.
What does this tell us about the Australian housing conversation?
It’s not a new crisis anymore. It’s a nationally entrenched issue that is now being addressed by the public by way of debates along with policymakers and experts at the highest government level. These debates are on solutions, trade-offs and fairness. The conversation is much more sophisticated where audiences are not just talking about “prices being too high”, but discussing supply, investments, short term relief vs long term reform. What’s also essential is to look at the key drivers or the key voices driving the top narratives. From economists to policymakers to advocacy groups, the voices gaining traction are influencing how the issue is understood and what solutions feel viable. Understanding not just what’s being said, but who is driving the conversation and why it’s resonating, is becoming critical for organisations looking to engage credibly. That’s where Lumina’s Stories and Perspectives comes in, helping you move beyond headlines to uncover the narratives and voices shaping the issues that matter most.
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Blog
What’s really driving Australia’s housing conversation right now?
Explore how housing in Australia has become a nationally entrenched issue where audiences participate in shaping conversation as much as the policymakers.
The media landscape is accelerating. In an era where influence is ephemeral and every angle demands instant comprehension, PR and communications professionals require more than generic technology—they need intelligence engineered for their specific challenges.
Isentia is proud to introduce Lumina, a groundbreaking suite of intelligent AI tools. Lumina has been trained from the ground up on the complex workflows and realities of modern communications and public affairs. It is explicitly designed to shift professionals from passive media monitoring back into the role of strategic leaders and pacesetters.
“The PR, Comms and Public Affairs sectors have been experimenting with AI, but most tools have not been built with their real challenges in mind.” said Joanna Arnold, CEO of Pulsar Group.
“Lumina is different; it is the first intelligence suite designed around how narratives actually form today, combining human credibility signals with machine-level analysis. It helps teams understand how stories evolve, filter out noise and respond with context and confidence to crises and opportunities.”
Setting a new standard for PR intelligence
Lumina is centered on empowering, not replacing, the human element of communications strategy. This suite is purpose-built to help PR, Comms, and Public Affairs professionals significantly improve productivity, enhance message clarity, and facilitate early risk detection.
Lumina enables communicators to:
Understand & Interpret: Move beyond basic alerts to strategically map the trajectory and spread of narrative evolution.
Focus & Personalise: Achieve the clarity necessary to execute strategic action before critical moments pass.
We are launching the Lumina suite by making our first module immediately available: Stories & Perspectives.
In the current fragmented, multi-channel media environment, communications professionals need to be able to instantly perceive not just how a story is growing, but also how it is being perceived across different stakeholder groups.
Stories & Perspectives organizes raw media mentions into clustered, cohesive Stories, and the Perspectives that exist within each, reflecting distinct media, audience, and public affairs angles. This unique functionality allows users to:
Rise above the noise: Instantly identify which high-level topics are gaining momentum or fading from attention.
Get to the detail, fast: Uncover the influential voices, niche communities, and specific channels actively shaping the narrative.
Catch the pivot point: Precisely identify the moment a story shifts—from a strategic opportunity to a reputation risk—or when a new key opinion former begins guiding the conversation.
"Media isn’t a stream of mentions," said Kyle Lindsay, Head of Product at Pulsar Group. "But rather a living system of stories shaped by competing perspectives. When you can see those structures clearly, you gain the ability to understand issues as they form, anticipate how they’ll evolve, and act with precision. That’s what we mean when we talk about AI built for communicators, and that's what an off-the-shelf LLM can't give you."
The Lumina Roadmap: AI tools for the future of comms
The launch of Stories & Perspectives is the first release of many. Over the upcoming months, we will systematically roll out the full Lumina roadmap, introducing a comprehensive set of AI tools engineered to handle every phase of the communications lifecycle.
The full Lumina suite will soon incorporate:
Curated media summaries: AI-driven daily summaries customized specifically to the priorities of senior leadership, highlighting only the most relevant stories.
Reputation analysis: Advanced measurement tracking how critical themes like ethics, innovation, and leadership are statistically shaping corporate perception.
Press release & media relations assistant: Tools designed to accelerate content creation and craft hyper-focused, personalized pitches that reach the precise contacts faster.
Predictive intelligence layer: Technology engineered to track and anticipate story momentum and strategic change before the window of opportunity closes.
Intelligent agents: Background agents continuously scanning all media channels for emerging key spokespeople and previously undetected reputation risks.
Enhanced audio, broadcast & crisis detection: Complete, real-time oversight of all channels—including audio and broadcast—enabling rapid context building and optimal crisis response delivery.
Want to harness the power of Lumina AI for your PR, Comms, or Public Affairs team? .
Complete the form below to register your interest.
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Blog
Announcing Lumina: The purpose-built AI suite for PR, Comms, and Public Affairs
An intelligent suite of AI tools trained on the language, workflows, and realities of modern public relations and communications.
