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Written by: McKay
2020-12-16 18:01
Last update date: 2020-12-16 18:01
The Secretary for Labour and Welfare Law Chi-kwong revealed earlier that the suspension of lotteries in response to the epidemic will affect the revenue of the lottery fund. He also predicts that the fund will record a deficit of 2.4 billion yuan this year.
Legislative Council documents show that the Lotteries Fund recorded a total of 1.91 billion yuan in revenue last fiscal year, but expenditures reached 2.43 billion yuan, a deficit of 520 million yuan, and the total balance decreased to 23.34 billion yuan.
In March of this year, the Lottery Fund allocated 1.1 billion yuan for the construction of a quarantine center. The authorities said at the time that it would not affect the Lottery Fund.
Shao Jiazhen, a former member of the social welfare sector of the Legislative Council, questioned that Luo Zhiguang deliberately deceived at the time. "Since March, the quarantine center will affect the lottery fund. Did you think that you were a god after passing the sea?"
15% of the sales revenue of the Mark Six lottery is included in the Lottery Fund of the Social Welfare Department.
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Legislative Council documents show that the revenue of the Lottery Fund last year was 1.91 billion yuan, down 18% year-on-year. As for expenditure, it increased by 40% to 2.43 billion yuan, including the construction of the quarantine center by the ArchSD. The annual expenditure was 66.78 million yuan. Accounted for about 2% of expenditure.
However, 1.1 billion yuan was allocated from the Lottery Fund for the entire project, which is still a relatively large expenditure under the revenue deficit of the Lottery Fund.
The lottery fund paid 1.1 billion yuan for the construction of the quarantine center, and 66.78 million yuan was paid in the fiscal year last year.
Shao Jiazhen, a former member of the Legislative Council of Social Welfare, earlier criticized the government for "washing the lottery fund indiscriminately," as it violated the purpose of the lottery fund.
He said to "Hong Kong 01" today that he thought Luo Zhiguang had already grasped the revenue and expenditure of the lottery fund. "Since March, the quarantine center will affect the lottery fund. Did you think that the sea was a god? Must it be deliberately deceiving?" He said that the government has been operating lottery funds for many years and should have extensive administrative experience. "Is it because someone is negligent?"
The actual revenue of the Mark Six lottery last year was 1.158 billion yuan, in line with expectations
Luo Zhiguang stated in his blog on October 18 this year that due to the suspension of the Mark Six lottery due to the epidemic, the investment return of the lottery fund is uncertain and warned that the fund deficit may increase and a solution needs to be explored.
Although the Jockey Club suspended the Mark Six draw on January 27 this year, it resumed the draw on September 24, which lasted 8 months.
However, the accounts of the Lottery Fund reflect that the actual revenue of the Lottery Fund’s Mark Six lotteries last year was 1.158 billion yuan, which was not far behind the expected revenue target. It is believed that the impact of the suspension of the lottery lottery could not be reflected in the previous financial report.
The income of the Mark Six lottery from 18 to 19 was 1.192 billion yuan, which is only 34 million yuan from the previous year's Mark Six revenue.
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Mark Six Labor and Welfare Bureau Luo Zhiguang Shao Jiazhen
