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Written by: Wang Jieen, Chen Shuxia, Hu Jiaxin
2021-02-24 11:41
The last update date: 2021-02-24 11:46
[Budget 2021] As the epidemic continues, the number of unemployed in Hong Kong has risen sharply, with an unemployment rate of 7%, a record high in nearly 17 years.
The Financial Secretary Chen Maobo announced today (24) a new "Budget", in which all sectors have paid attention to and advocated the establishment of unemployment assistance funds "no shadow", but the authorities will allocate 15 billion yuan to set up "100% "Guaranteed Personal Preferential Loan Program" to help the unemployed to tide over the difficulties temporarily.
The upper limit of the loan is 6 times the average monthly salary of the applicant before unemployment, the upper limit is 80,000 yuan, and the annual interest is 1%. The applicant can "repay the interest but not the principal" for the first 12 months, and the principal and interest can be repaid in up to 5 years.
If the lender can repay the loan as scheduled within 5 years, the government will also refund the interest, which is an interest-free loan in disguise.
The unemployment rate in the latest quarter was 7%, and the number of unemployed exceeded 253,300.
The new "Budget" did not mention the establishment of unemployment assistance.
(Photo by Luo Guohui)
▼The economy is hit hard by the epidemic, and job fairs of the Labour Department are flooded▼
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The latest number of unemployed people reached 253,300. The government has been asked to set up temporary unemployment assistance, but this time the "Budget" did not mention it.
Applicants only need to repay the interest for the first 12 months. Interest will be refunded if the repayment within 5 years is on schedule
Chen Maobo announced the launch of the "100% Guaranteed Personal Preferential Loan Program" to help the unemployed tide over the difficulties.
The government provides a 100% guarantee. The loan limit is 6 times the average monthly salary of the applicant before becoming unemployed. The upper limit is 80,000 yuan. The annual interest is fixed at 1%. The applicant only needs to repay the interest for the first 12 months, and the principal and interest can be up to It will be repaid in 5 years.
If the lender can repay the loan as scheduled within 5 years, the interest can be refunded, which is an interest-free loan in disguise.
Freelancers can also apply if they prove that they have lost income.
The total government guarantee is 15 billion yuan, and the application period is six months.
The Financial Services and the Treasury Bureau (Finance Bureau) will work with the insurance company to announce the details later.
Relaxing WFA application requirements to 72 hours per month
However, the Budget proposes to relax the working hours requirements of the Working Family Allowance Scheme, including reducing the basic working hours requirements for non-single-parent households from the current minimum of 144 hours per month by half, that is, 72 hours per month for one year.
If approved by the Finance Committee, it can be implemented as early as June.
According to the current requirements, if the total monthly working hours of non-single-parent households fall within the minimum 144 to 168 hours, the basic allowance is about 500 to 1,000 yuan.
Affected by the new crown pneumonia epidemic, the number of unemployed people in Hong Kong has soared, hitting a record high in nearly 17 years.
(Photo by Ou Jiale)
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