The government does not rule out cancelling stamp duty on non first-time flat buyers, lawmaker-cum-restaurateur Andrew Chan Chak Mo quoted officials as saying yesterday.
Chan addressed a press briefing after yesterday’s closed-door meeting of the 2nd Standing Committee of the local legislature with government officials in attendance. Chan, who chairs the committee that is reviewing the government’s 2023 budget bill, the outline of which was passed by the Legislative Assembly (AL) last month.
Chan did not identify the government officials who attended yesterday’s regular meeting.
Chan quoted the officials as saying that the government will continue to assess the situation in light of the latest property market changes, and listen to the opinions from the real estate sector, as some committee members expressed concern about the current lull in property transactions.
Chan also quoted the officials as saying that the government would continue to review its stamp duty policy. He quoted the officials as saying that while prices of commercial units and office space had fallen in recent years, apart from a decrease in the number of residential transactions, changes in property prices had not been significant and the ratio of people’s income to property prices remained high, especially for first-time home buyers.
According to Chan, the government plans to put up four plots of land for residential developments for public auction next year but, he added, the revenue expected from the auctions has not been factored into next year’s government budget.
Chan quoted the officials as saying that preparations were being made for the auctions of the plots and but the revenue that the government could expect from them remained to be seen. Chan added that there were still some procedures to go through after the public auctions, adding that the money might be collected by the government only over a number of years, and that’s why the expected amounts were not included in the budget for the time being.
In addition, Chan underlined that the bill proposes to increase the number of staff members in six public entities next year, accounting for a net increase of more than 50 people, adding that among the 58 additional staff members for the Education and Youth Development Bureau (DSEDJ), 32 would fill the vacancies caused by retirements and unsuccessful hires, while 26 will be teaching staff for seven of Macau’s public schools to cope with the increase in the number of classes.
Chan also noted that there will be an increase of 59 staff for the Municipal Affairs Bureau (IAM), including engineering, finance, administration and inspection staff, mainly due to accumulated vacancies in the past, while the Health Bureau (SSM) will have 88 additional staff, including specialists, medical and non-medical staff. Chan added that 160 teaching staff and administrative staff will be hired by the University of Macau (UM) to cope with the increase in student recruitment.
Chan said he expected the committee to complete the article-by-article review of the bill and sign the review report next week, after which it would be submitted to a plenary session for final debate, review and vote.
Lawmaker-cum-restaurateur Andrew Chan Chak Mo (left), who chairs the legislature’s 2nd Standing Committee, talks to reporters after yesterday’s 2nd Standing Committee’s closed-door meeting reviewing the government’s 2023 budget bill, as the committee’s secretary, Lam Lon Wai, looks on. – Photo: Ginnie Liang
