TOOL · GROSS COST

How much would a basic income cost in Singapore?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Country

Adult population 5,220,107child population 697,541year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

53,461 million

in SGDSGD 53,461,224,000

Equal to 7.8% of reference GDP

Population covered: 5,917,648 people

Adults: 5,220,107 × SGD 800 × 12 = SGD 50,113,027,200

Children: 697,541 × SGD 400 × 12 = SGD 3,348,196,800

SGD 50,113,027,200 + SGD 3,348,196,800 = SGD 53,461,224,000

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $511,181,761,244 · World Bank WDI

Currency SGD · exchange rate 1.3428 SGD/USD (2023)

Converted cost $39,814,232,306 for the GDP share.