The 2022-23 Budget was published at the end of February. With the outbreak of the Omicron variant virus, Hong Kong has returned to the previous state of strict prevention and control. Dine-in restaurants are banned in the evening market, and many premises are closed, which greatly affects the market.
Various political party organizations have successively submitted proposals to the Financial Secretary, Chen Maobo, and have proposed to distribute consumer coupons again.
However, the government has just announced the launch of the fifth round of anti-epidemic funds. It is difficult to guarantee that more rounds of subsidy programs will be launched before the epidemic is over. Will the government still be able to distribute money on a large scale?
Distributed 10,000 yuan "Reunification Celebration Consumption Voucher" by Pakatan Harapan
The Liberal Party submitted a proposal at the beginning of the month. Wholesale and retail member Shao Jiahui pointed out that after the epidemic subsides, the Octopus platform can be used to distribute electronic consumer coupons to encourage local consumption.
As of the beginning of this week, Heung Yee Kuk proposed to "Cai Ye", including the issuance of another 5,000 yuan of electronic consumption coupons.
Afterwards, the Pakatan Harapan proposed to distribute 10,000 yuan of "Reunification Celebration Consumption Vouchers" and 8,000 yuan per month to the unemployed for half a year.
The DAB will meet tomorrow to discuss MPs: No opposition consumer coupons
The DAB also expressed its views to Chen Maobo on Tuesday (11th), focusing on measures to alleviate the plight of the public, including the establishment of short-term unemployment assistance, tax rebates, waiver of rates, CSSA and longevity allowances, "double pay", and on behalf of the public. Paying the rent for public housing for one month, etc., but not paying attention to the money.
Some members of the Democratic Alliance for Betterment of Hong Kong pointed out that if the government sent money, they would definitely not object, but they wanted to know how much boost the consumer voucher program had on the economy last year, and hoped to see the data for reference.
The congressman said that under the fifth wave of the epidemic, many people "stopped their hands and mouths", and it is reasonable for the government to distribute consumer coupons at this time.
It is understood that the DAB held a caucus meeting on Friday (14th) to discuss issues including the Budget, which is expected to involve asking the government to send money again.
Deng Jiabiao.
(Photo by Li Zetong)
The Federation of Trade Unions will see the wealthy Deng Jiabiao next week: consumer coupons are better than money
The Federation of Trade Unions will meet with Chen Maobo next week. Senator Deng Jiabiao expressed his support for the distribution of consumer coupons, which can range from 5,000 to 10,000 yuan, and put forward three reasons that the effect is better than sending money.
Deng Jiabiao said that consumer coupons need to be used for local consumption. After the consumer coupons were distributed last year, the market immediately became prosperous, proving that the consumer coupon program has boosted the economy.
The second is that consumer coupons are distributed by multiple operators. In order to attract customers, operators will provide discounts and increase the amount of local consumption in disguise.
In addition, Deng Jiabiao quoted earlier reports that a study by the University of Hong Kong found that the new crown virus can survive on banknotes for two days, and consumer coupons use electronic payment to avoid the risk of the virus spreading through paper money.
He also pointed out that many Hong Kong people are eagerly looking forward to customs clearance with the mainland, and electronic payment has become popular in the mainland in recent years.
Ernst & Young is expected to send 3,000 yuan consumer coupons to promote economic growth by about 1%
Ernst & Young, which estimates the fiscal deficit every year, also expects that the government will distribute consumer coupons, but only $3,000 will be distributed for "hands-on-hand", which is expected to boost Hong Kong's GDP growth by 0.75 to 1%.
And Chen Wanzhen, president of the Hong Kong branch of the Association of Chartered Certified Accountants (ACCA), an international professional accountant organization, said that personally, distributing consumer coupons is more effective than sending money, which can focus on stimulating local retail atmosphere, and can also make citizens accustomed to the use of electronic payment processes.
The Financial Secretary, Paul Chan, will deliver the Budget at the end of February.
(file picture)
In the past, 10,000 people sent 10,000 people, involving 71 billion yuan
However, the government announced earlier that it will launch the fifth round of anti-epidemic funds, which means that "a lot of money" has already been spent. Is the government capable of sending more money?
Looking through the information, the 2020-21 Budget will distribute 10,000 yuan to Hong Kong permanent residents over the age of 18, involving an amount of about 71 billion yuan.
The 2021-22 Budget will issue 5,000 yuan of electronic consumer vouchers, involving about 36 billion yuan.
The huge expenditure on epidemic prevention also has to cope with the increase in medical and welfare expenses
As for the Anti-epidemic Fund, the amount in the first four rounds fluctuated considerably. The first round was 30 billion yuan, the second round was 137.5 billion yuan, the third round was 24 billion yuan, and the fourth round was only 6.4 billion yuan, with an average of about 49.5 billion yuan.
Recently, many groups have expressed that they have been hit by the epidemic and hope that the government will issue a one-time subsidy of 10,000 yuan or set up short-term unemployment assistance. There will be no shortage of funds for epidemic prevention and anti-epidemic.
Members who do not agree to send money: resources should be targeted
Some independent lawmakers expressed their disapproval of the distribution of money, believing that government finances cannot afford to distribute money every year, and resources should be targeted to help those in need in order to improve the efficiency of the use of funds.
He assigns consumer coupons just to "burn fireworks". Although it can be exchanged for a moment of applause and a little help to the current economy, it can't actually help those most in need.
He believes that if the government decides to distribute more consumer vouchers, it should set a number of restrictions, such as excluding Hong Kong people who have lived abroad for a long time, because the funds are used to promote Hong Kong's local economy.
Judging from the fiscal situation in the first eight months as of November last year, the government's fiscal reserves were about 861.93 billion yuan, which is expected to be sufficient to distribute money or consumer vouchers to support the economy this time.
However, "Cai Ye" said as early as the end of December that this budget needs to cater for many demands, and it is necessary to rationalize the priorities of different needs and allocate resources in a balanced manner.
Some people predict that the government will also need to reserve funds for medical care, housing, welfare, and economic promotion. Based on the changes in the epidemic, a large amount of money will be reserved for future epidemic prevention measures. Even if the government decides to distribute money or consumer coupons, the amount may not be enough. Open the cup too early.
Budget ︱ The Pakatan Harapan urges the distribution of 10,000 money. Unemployment can get 8,000 students a month. Expand Chen Maobo's call for suggestions: Decompress the anti-epidemic fund for affected citizens when necessary Voucher donation is tax deductible