Hong Kong's relief measures- 2008 (1 viewing) (1) Guest
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TOPIC: Hong Kong's relief measures- 2008
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Hong Kong's relief measures- 2008 2 Months, 2 Weeks ago
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Hong Kong's Chief Executive Donald Tsang
has announced a package of relief measures
worth about $11 billion to alleviate inflation.
Speaking at the Legislative Council
question-and-answer session today
Mr Tsang said he hopes the proposals
help low-income earners meet
their daily expenses amid worsening inflation.
He said the Mass Transit Railway board
has agreed to offer half-price concessions
to students between certain stops.
The MTR Corporation will announce details soon.
The Government will pay another two months'
rent for most families living in
public housing estates on
top of next month's rent subsidy
Social security
Students receiving Comprehensive Social
Security Assistance and those
who will receive student financial assistance
in the following school year
will be given a one-off $1,000 subsidy.
Two extra months' payment
of Old Age Allowance and
an extra month's standard rate
payment of Comprehensive Social
Security Assistance
and Disability Allowance
will be offered to recipients.
Meanwhile, the employee retraining
levy will be waived for two years
to relieve the burden of hiring
foreign domestic helpers in
middle-income families.
Government fees and charges
related to livelihood
will also be frozen for one year.
Besides providing half-year electricity
charge subsidies to all households
from September, the Government will offer
the subsidies for a further
six months, increasing the total subsidy
amount from $1,800 per household to $3,600.
The Government has also earmarked
$100 million for the Social Welfare Department
to work with non profit-making organisations
to provide short-term food assistance
services to needy families.
assistance services to needy families.
Price information
To enhance price information
on daily necessities the Government
will help the Consumer Council
expand the exercise to compare
and report prices in supermarkets,
shops and markets. It will also liaise
closely with the Mainland
to ensure stable and adequate
food supplies.
Mr Tsang said the proposals
will not fuel inflation because
many are one-off measures, but they
will likely cause a higher
fiscal deficit and a fall in financial reserves.
However, the Government's sizeable
fiscal surplus last year puts
it in the position to make
additional commitments, he said,
adding the proposals will not bring major
or long-term implications on public
finances and the operating account.
The Government will seek
funding approval from legislators Friday.
As the proposed waiving of
the employee retraining levy involves
law amendments the Government
must obtain Executive Council
approval before their scheduled
implementation in September.
Noting inflation is a global problem,
Mr Tsang said as Hong Kong
is an open and free economy
it is difficult for the Government
to control price rises.
Although some people may not
be covered in the proposal,
most middle-class and low-income
families should benefit from the measures.
He said the Government
will formulate long-term
anti-inflation measures
and is willing to discuss the issue
with lawmakers.
Cruise terminal
Responding to lawmakers' questions
on the Kai Tak cruise terminal project,
Mr Tsang said the Government
will try to make the project
more financially viable
when proceeding with the re-tendering exercise.
If the exercise
cannot achieve favourable results
the Government will seek funding
approval from lawmakers for building
the terminal, he added.
Speaking on the recent confiscation
of travel documents of Hong Kong reporters
planning to cover the Olympics in Beijing,
Mr Tsang said the Government
has contacted the Mainland authorities
and the documents will be returned soon.
hmm it sounds rosy...
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