<\/p>\ninequality data that the Finance Ministry (MOF) had released on Feb 9,<\/p>\n
<\/a> days ahead of the Budget 2026 statement. <\/p>\n
MOF\u2019s occasional paper found that the city-state\u2019s wealth inequality was higher than its income inequality, with the Gini coefficient for wealth estimated to be 0.55, while that for income was 0.38 after taxes and transfers.<\/p>\n
The Gini coefficient measures inequality on a scale of 0 to 1, with higher values indicating greater inequality.<\/p>\n
Mr Siow said in his reply that the data on wealth concentration should be interpreted with caution due to sample size limitations and potential under-reporting in survey responses at both ends of the wealth distribution spectrum.<\/p>\n
The minister told the House that Singapore\u2019s wealth concentration levels are broadly comparable to those of advanced economies with similar wealth Gini coefficients. Wealth inequality is higher than income inequality in all advanced economies as wealth accumulates over the life cycle, he added. <\/p>\n
While wealth data is \u201cnotoriously hard\u201d to measure given overseas assets and unlisted wealth, Mr Siow said the Government had made its best effort to do so by combining survey data from the five-yearly Household Expenditure Survey with administrative data such as on properties, CPF accounts, Singapore Savings Bonds and securities held in Central Depository accounts. <\/p>\n
\u201cWe have no plans at this point to seek additional legislative or administrative powers to require more granular asset disclosure solely for inequality measurement,\u201d he said.<\/p>\n
Mr Siow said that as this was the Republic\u2019s first compilation of the wealth Gini coefficient, there is no historical series. However, the Government intends to track this measure over time, and will consider additional indicators in the next Household Expenditure Survey due in 2028.<\/p>\n