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Electronic consumer coupons | Shao Jiahui points out that the effect of the instalment distribution is better; the administrative fee will eventually be less than 600 million

2021-03-01T08:43:20.128Z


The new "Budget" announced the distribution of electronic consumer vouchers worth 5,000 yuan to Hong Kong permanent residents and new arrivals aged 18 or above. Financial Secretary Chen Maobo pointed out earlier that consumer electronic vouchers will be distributed in 5 phases


Political situation

Written by: Zhou Haoyi

2021-03-01 16:26

Last update date: 2021-03-01 16:26

The new "Budget" announced the distribution of electronic consumer vouchers worth 5,000 yuan to Hong Kong permanent residents and new arrivals aged 18 or above.

Financial Secretary Chen Maobo pointed out earlier that electronic consumer vouchers will be distributed in five phases, 1,000 yuan per month, limited to one month.

The Liberal Party’s wholesale and retail legislative council member, who "successfully fought" for the distribution of consumer vouchers, said today (1st) that the needs of various industries are different, and he is open to the one-off or instalment distribution of electronic consumer vouchers, but believes that the instalment distribution has some advantages. This helps to benefit more merchants and can also bring in more additional consumption.

Regarding some people questioning that the distribution of electronic consumer vouchers involves 600 million yuan in administrative costs, Shao Jiahui does not expect to spend 600 million yuan in the final budget. He took 10,000 yuan in cash last year as an example, originally expected to spend 1 billion yuan in administrative costs. In the end, only about 300 million yuan was spent.

36 billion yuan in consumer vouchers is believed to be an effective boost to the economy

Shao Jiahui has been actively fighting for the government to distribute electronic consumer vouchers. He said that as early as the 2008-09 financial tsunami, the then Liberal Party’s wholesale and retail member Fang Gang and the catering industry member Zhang Yuren had proposed to distribute consumer vouchers to stimulate the economy, but due to forged consumer vouchers And the problem of excessive administrative fees was not achieved; until the end of 2019, the industry was affected by social movements, and the party again proposed to distribute consumer vouchers. In the end, due to the same problem of forged consumer vouchers and administrative expenses, it changed to request the government to distribute 10,000 yuan in cash. .

He said that it was a pity that when 10,000 yuan was distributed in July last year, it happened to coincide with the third wave of the epidemic in Hong Kong. Many citizens chose to deposit 10,000 yuan in banks. The effect of boosting the economy was not significant. Therefore, the party continued to advocate the distribution of electronic products this year. Coupons.

He said that the Hong Kong government is facing a budget deficit of about 300 billion yuan. He thought that there was a 95% chance that the government would not launch electronic consumer vouchers. Therefore, he was overjoyed after the Budget announced the distribution of consumer vouchers.

According to his analysis, if the electronic consumer coupons are issued in five installments, each installment involves about 7.5 billion yuan, which is not a small amount for the industry and believes that it will have the effect of revitalizing the economy.

Some citizens questioned the failure of the government to issue electronic consumer vouchers to reduce the burden of rent. Shao Jiahui said that citizens can use electronic consumer vouchers to meet daily necessities, food and other living expenses, and free up funds to pay rent. He believes that consumer vouchers are helpful to the lives of grassroots citizens.

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Means that more merchants will benefit from the installment distribution

He mentioned that the industry will later discuss with the government the detailed arrangements for the distribution of electronic consumer vouchers. Each industry has different needs, "everyone needs it." The industry selling luxury goods hopes that the government can issue consumer vouchers all at once, and there are also small merchants. He hopes that the government will distribute it in installments. He is open to this.

He said that referring to Macau’s experience, the effect of issuing consumer vouchers in installments to bring about additional consumption is better, and the public will patronize more merchants and expand the scope of beneficiary merchants.

The government estimates that the distribution of electronic consumer vouchers will involve about 36 billion yuan, of which administrative expenses will account for 600 million yuan. Shao Jiahui expects that the actual expenses will be less than expected by then. For example, last year, the government had distributed 10,000 yuan in cash, and the government originally expected to spend 1 billion yuan in administrative expenses. But in the end, only more than 300 million yuan in administrative expenses was spent.

He said that he hopes that the government can issue electronic consumer coupons through more electronic payment platforms, and discuss with electronic payment platforms to reduce transaction fees, such as charging only cost prices, so as not to cause hundreds of millions of public funds to be used for payment of fees.

The Liberal Party’s Wholesale and Retail Legislative Council Member Shao Jiahui pointed out that the needs of different industries are different and they are open to the one-off or instalment distribution of electronic consumer vouchers, but believes that the instalment distribution will help more merchants benefit and bring more benefits. Spend more.

(Photo by Zhou Haoyi)

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Source: hk1

All news articles on 2021-03-01

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