Social News
Written by: Chen Shuxia, Wang Jieen, Huang Weilun, Zheng Cuibi, Li Enci, Leung Huanmin, Lao Minyi, Golden Chess, Zheng Qiuling, Kong Fanxu, Hu Jiaxin, Deng Yinglin, McKain, Ouyang Dehao
2021-02-24 10:24
The last update date: 2021-02-24 11:34
[Budget 2021] Financial Secretary Chen Maobo released the latest "Budget" today (24th). He earlier foretold that Hong Kong's economy has not yet recovered and that there will be a "larger deficit" in the next financial year. Watch the food and eat".
It is reported that the Hong Kong government will substantially "cut sweets" this year and will not distribute money to all people, but the salaries tax and profits tax reductions, and the annual rate waiver for residential properties will be retained. As for the CSSA for the grassroots, the old age allowance, and the elderly The living allowance or disability allowance "double pay" is expected to be retained.
It is understood that the Hong Kong government will set up a 100% guaranteed unemployment loan, allowing the unemployed to apply for 6 times the monthly salary, borrow up to 80,000 yuan, with an annual interest of 1% and a repayment period of 5 years.
If the lender repays the loan as scheduled, the interest will be refunded.
In addition, the government will distribute $5,000 in electronic consumer vouchers to all eligible citizens over 18 years of age and new arrivals in Hong Kong.
"Hong Kong 01" will broadcast the details of the latest "Budget".
Social citizens even went to the political party to petition
+5
+5
+5
Labor Party to petition outside the political party
▼Chen Maobo's 5 budget cover colors in his tenure▼
+4
+4
+4
The government will drastically "cut sweetness" this year and will not continue the nationwide distribution of money last year.
(Profile picture)
[11:45] Chen Maobo announced that it will issue a total of 5,000 yuan in electronic consumer vouchers to every eligible Hong Kong permanent resident and new arrivals aged 18 or above to encourage and drive local consumption.
It is estimated that the measures will benefit about 7.2 million people, involving about 36 billion yuan in financial commitments.
[11:30] The "Special-Love Value Added" program launched by the Employees Retraining Board will continue to broaden the program's choice of courses and provide more online courses for students to learn from distance during the epidemic.
The scope of the "Continuing Education Fund" will be expanded and included in online courses to cope with technological development and changes in the mode of education, to provide the public with more diversified learning channels, while ensuring effective supervision of courses and teaching quality. It is planned to be launched in September this year The new semester begins.
In the 2020/21 fiscal year, the government will establish about 31,000 time-limited posts in public and private organizations through the "Epidemic Prevention Fund".
Chen Maobo pointed out that 100% of salaries tax and personal assessment for the 2020/21 tax year will be reduced, with a ceiling of 10,000 yuan, benefiting 1.7 million taxpayers in Hong Kong.
The deduction will be reflected in the final tax payable for the 2020/21 tax year.
Government revenue will decrease by 11.4 billion yuan.
The government will also waive the annual rates for residential properties in 2021-22, subject to a ceiling of $1200 per household per quarter, and $1,000 for the next two quarters.
Government revenue will be reduced by 11.6 billion yuan; the government will continue to introduce 1,000 yuan in electricity subsidies.
As for the recipients of social security payments, including CSSA, Old Age Allowance (Fruit Allowance), Old Age Living Allowance or Disability Allowance Alliance 2.38 billion, similar arrangements will be made for the Working Family Allowance to encourage employment and transportation allowance. The government spends about 120 million. yuan.
The government will pay examination fees for school candidates who take the 2022 Hong Kong Diploma of Secondary Education Examination.
Government expenditure is about 150 million yuan.
The authorities will lower the WFA working hours requirements from 144 hours to half, and it will be implemented in June at the earliest.
As for assisting the unemployed, it will also specifically launch the "100% guaranteed personal preferential loan". In order to introduce a preferential low-interest loan with 100% guarantee by the government, the application period is six months.
The upper limit of the loan amount is the salary of eligible applicants for 6 months, with an upper limit of 80,000 yuan, and the repayment period is up to 5 years. You can choose to repay the interest but not the principal for the first 6 months.
The interest rate is fixed at 1%.
The total government commitment is 15 billion yuan and the application period is 6 months.
The government will also repair the drainage pipes in Hong Kong with a total of 1 billion yuan, involving 3,000 old buildings in Hong Kong. The "Three No Buildings" can be carried out by the Buildings Department.
[11:15] Chen Maobo pointed out that in order to support enterprises, a 100% reduction in profits tax for the 2020/21 year of assessment, with an upper limit of 10,000 yuan, will benefit 128,000 taxpayers in Hong Kong.
The deduction will be reflected in the final tax payable for the 2020/21 tax year.
Government revenue will be reduced by 1.05 billion yuan
The government will also waive rates for non-residential properties in the four seasons of 2021/22. The first two quarters will be capped at $5,000 per household per quarter, and the cap will be set at $2,000 per household per quarter for the next two quarters. It is estimated that 420,000 non-residential properties will be benefited. Residential property.
Government revenue will be reduced by 3.4 billion yuan.
The business registration fee for 2021/22 will be waived, benefiting 1.5 million business operators.
Government revenue will be reduced by 3 billion yuan.
Starting from April this year, 75% of non-residential users' water and sewage charges payable for an additional 8 months have been reduced, with the ceilings for monthly reductions of 20,000 yuan and 12,500 yuan for each household.
250,000 non-residential residents will benefit, and government revenue will decrease by 680 million yuan.
Starting from April this year, we will continue to reduce 75% of the rent and fees currently applicable to eligible tenants of government properties, eligible short-term leases and exemptions under the Lands Department, for a period of six months.
During the same period, tenants who need to close their premises at the request of the government can continue to receive 100% rent relief during the closing period.
Government revenue will be reduced by 1.4 billion yuan.
The application time limit for the "SME Financing Guarantee Scheme" has been extended to the end of the year, and the maximum loan amount for each enterprise has been further increased, from the sum of 12 months of employee salary and rent to 18 months, and the upper limit from 5 million to 6 million; The maximum repayment period has been extended from 5 years to 8 years; and the "interest-not-repayment" arrangement has been increased from 12 months to 18 months.
Hong Kong Mortgage Insurance Company Limited (the Mortgage Insurance Company) will announce the details later.
Under the epidemic, the unemployment rate soared to 7%, a record high in 17 years.
The government refuses to establish unemployment assistance, but will introduce 100% guaranteed unemployment loans.
(Profile picture)
[11:00] Chen Maobo announced the "Budget" in the Legislative Council. He started by mentioning that everyone experienced a different life in the past year, and masks have become a necessity.
He mentioned that the government launched a countercyclical measure of 120 billion yuan last year. The top priority is to curb the epidemic and introduce a vaccine to bring people's lives back on track.
He also pointed out that this year's focus is to "stabilize the economy and relieve the people's hardship."
He specifically mentioned that Hong Kong has experienced negative economic growth for two consecutive years, and consumer tourism-related industries have been hit, and unemployment rates in retail and hotels have reached double digits.
Last year, the gross domestic product grew by 6.1%.
As for the economic outlook, he expects that the local economy will have "positive growth" this year, but it still depends on the flow of cross-border people. It is expected that the economic recovery will strengthen in the second half of the year. This year's growth will be between 3.5%-5.5% and deflation will be lower than the pre-recession level.
He also predicted that Hong Kong's economy will grow by 3.3% from 2022 to 2025, with a basic inflation of 2%.
▼The economy is hit hard by the epidemic, and job fairs of the Labour Department are flooded▼
+4
+4
+4
[10:40] According to the news, the new "Budget" will be announced to distribute 5,000 yuan electronic consumer vouchers to eligible 18-year-old residents and new arrivals in Hong Kong.
In addition, the government will refund 100% of the salaries tax, up to a ceiling of 10,000 yuan.
It is understood that the authorities will increase the vehicle first registration tax by 15% and increase the private license plate fee by 30%.
▼Budget 2020 sugar distribution measures▼
Chen Maobo uploaded a personal photo of the leader, saying "ready to go, ready for a busy day", and listed today's itinerary, including attending the Legislative Council at 11 o’clock to announce the budget, the press conference at 3 o’clock and the media budget at 7:30 am Itinerary of the case forum.
(Chen Maobo facebook picture)
[10:38] Chen Maobo is going to the Legislative Council to announce a new "Budget". He posted a personal photo of the colleague on social networking sites, saying that "ready to go, ready for a busy day", and listed Today's itinerary includes attending the Legislative Council to announce the budget at 11 o'clock, the press conference at 3 o'clock, and the media budget forum at 7:30.
▼Key measures for the 2020 Budget ▼
+7
+7
+7
[10:24] The Financial Secretary, Chen Maobo, will publish a new "Budget" in the Legislative Council. Before the meeting, representatives of the Labor Party will petition outside the political party.
01News
The Budget│Chen Maobo said that the cover color represents the hope and the number of foods to face actively
The Budget｜Salaries tax cut ceiling by half of 10,000 yuan
Budget 2021 | The Institute of Accountants advocates refunding cash to tax-loss companies to consider sending money again
Budget｜Small and medium-sized enterprises suggest that each person distribute 5,000 yuan in consumer coupons to set the expiration date to promote consumption
Budget 2021｜Public Housing Federation advocates subsidizing sub-residents' electricity bills for purchase of converted industrial buildings
2021 Budget Budget Chen Maobo Relief Measures Financial Secretary Financial Reserves Fiscal Surplus 01 Video My Home
