[Budget 2020] Why not send consumer coupons? News: Design takes time to send money the fastest

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Written by: Lao Xianliang

2020-02-26 14:24

The "Budget" announced today focuses on 10,000 yuan distributed by the entire people. The Macau government also announced a few days ago that it would launch an electronic consumer voucher of 3,000 yuan after the epidemic, which will directly stimulate consumption; Taiwan also distributed consumer vouchers after the 2009 financial tsunami. Why did the Hong Kong Government directly send money this year instead of sending consumer coupons? Government sources said that because "consumer vouchers" take time to design, including the need to add anti-counterfeiting features, etc., and sending money is the fastest way, emphasizing that the goal is to alleviate the heavy atmosphere of last year's social events and the impact of the epidemic. Other one-time relief measures can boost the economy by 3%. Emphasize that sending money will not be a regular measure.

▼ "Budget 2020" measures ▼

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Prior to the Budget, some political parties and groups suggested the distribution of consumer vouchers instead of direct money distribution. KPMG, one of the four major accountants, also called on the government to distribute 10,000 yuan of electronics to Hong Kong permanent residents aged 18 to 69 after the epidemic. Consumption vouchers, specifically for general consumption, food and entertainment; residents over 70 years of age can receive cash through the old age allowance.

However, the Hong Kong Government eventually distributed 10,000 yuan to the entire population. Asked why the government did not launch a "consumer voucher", government sources said that because "consumer vouchers" take time to design, including the need to add anti-counterfeiting features, etc., sending money is the fastest way, emphasizing that the goal this time is to alleviate last year The heavy atmosphere of social events and the impact of the epidemic, together with other one-off relief measures, are expected to boost the economy by 3%. Emphasize that sending money will not be a regular measure.

The pneumonia epidemic in Wuhan has severely hit Hong Kong's economy, and the retail industry has fallen into a cold winter. (Photo by Liang Pengwei)

The epidemic situation has not yet passed. The Macau government announced as early as February 14 that it would issue 3,000 patacas of electronic consumer vouchers to each resident to fight the epidemic. Consumption vouchers must be deducted in Macao's catering, retail, lifestyle and other industries; and the period is three months. However, Macau will still distribute money, and it will be distributed early in response to the impact of the epidemic on the economy and people's livelihood. It will be issued from July, and as early as April. All residents holding a valid or renewable Macau Resident Identity Card as of December 31, 2019, will receive an annual cash share of 10,000 yuan per permanent resident, 6,000 yuan per non-permanent resident, and approximately 68 permanent resident beneficiaries. Ten thousand people, about 48,000 non-permanent residents, and the total budgetary expenditure involved is about 7.1 billion yuan.

In addition to Macau, after the financial tsunami in 2009, Taiwan also launched the "Rejuvenation of the Economic Consumer Voucher" which was distributed to the public each year, and each person could get a consumer voucher with a total value of NT $ 3,600. The distribution amount, together with administrative costs such as anti-counterfeiting technology, totaled NT $ 85.653 billion. The Economic Construction Commission of the Yuan Zhengyuan estimated at the beginning of 2009 that policies could bring 0.66% growth in GDP. However, a report issued by the Economic and Construction Commission in December of that year stated that the contribution of consumer coupons to GDP was 0.28% to 0.43%, which is only about half of the original estimate.

▼ Hong Kong masks, panic buying, conflict, winter under the epidemic ▼

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