In view of the recent calls for the government to adjust the amount of its annual “wealth-sharing” handout scheme, with special emphasis on the needs of the underprivileged, as well as to increase the old-age pension and introduce a childcare allowance, Chief Executive Sam Hou Fai told reporters yesterday that the government would “consider”, “actively consider”, and “consider all” such concerns respectively, emphasising the government’s commitment to achieving fairness and precision in its policies, with possible adjustments to be made based on feedback from various community sectors.
Speaking about the government’s handout scheme, Sam clarified that the measure was introduced in 2008 in response to high inflation and financial turmoil, with a view to sharing the “fruits of economic development”. He went on to say that the initial amount disbursed to each local resident was a few thousand patacas and so far the cumulative total has reached to 92.1 billion patacas.
Sam said that, despite the fact that the overall inflation rate remains low, “the measure is still necessary this year”, but any potential improvements, such as the exact amount that each resident is entitled to receive, will be determined by considering the overall economic environment and the city’s tax revenue.
According to the Statistics and Census Bureau (DSEC), Macau’s Composite Consumer Price Index for last month rose by 0.57 percent year on year and 0.17 percent month on month.
Sam also quoted the gambling revenue in December last year to illustrate the current overall economic environment in Macau: “Our budget in November last year was based on gambling revenue of 20 billion patacas per month, resulting in a small surplus. However, looking back, the actual surplus in December was only about 18 billion patacas”.
He stressed that people’s livelihoods and the underprivileged were his key concerns, but it was also essential for the government to avoid creating a significant fiscal imbalance, adding that expenditure on social services and people’s livelihoods is a fixed cost, and last year about 10 billion patacas was allocated for livelihood and welfare allowances, 14 billion patacas for education, and 12 billion patacas for healthcare.
Concerned about the declining birth rate in Macau and the increasing ageing population, Sam said that the government will “actively consider” to introduce a childcare subsidy as long as it is financially viable, aiming to signal to the community that “we are supporting young mothers and fathers, as well as the younger generation, in taking on this significant social responsibility”.
On the old-age pension, Sam pledged that the government would study and consider ways to acknowledge the care and concern of the entire local community for the older generation, specifically “those retirees who have made contributions to society”.
Sam made the remarks on the sidelines of the Macau Chinese Enterprises Association’s Spring Gala at The Plaza Restaurant in Zape.
Chief Executive Sam Hou Fai speaks to the media on the sidelines of the Macau Chinese Enterprises Association’s Spring Gala at The Plaza Restaurant in Zape yesterday. – Photo: MPDG
