This year’s cash handout programme will start on July 6, Executive Council spokesperson Leong Heng Teng announced yesterday, indicating that the programme will distribute some MOP5.84 billion among 675,696 local residents. According to the government official, a total of 607,465 permanent residents will each receive MOP9,000 while non-permanent residents will get MOP5,400 per person from the government. Although the amounts set for the programme remain the same as 2014, the almost 40,000 increase in the number of qualified beneficiaries will increase the government’s expenditure for the handout by 5.8 per cent from last year’s MOP5.12 billion. Retired public servants and residents receiving the government’s economic assistance, teaching subsidies and higher educational aid fund will receive the money on July 6, followed by beneficiaries of pension and disabilities aid on July 7 and 8, respectively. In addition, some 60,000 residents that had registered to receive the government’s tax refund or other payments by bank transfer will have their allocations transferred directly to their accounts on July 9. Serving public servants, meanwhile, will receive theirs together with their July salaries. For other residents born in 1952 or before cheques will be sent out during the first week of July. Younger residents will receive their cheques gradually over the following 9 weeks based on their year of birth until September 18. This is the 8th consecutive year that the government has implemented the cash handout programme for local residents since 2008. Fiscal surplus decides amount Asked by reporters why the amount of this year’s handout programme has not been increased, Mr. Leong responded that the amount was determined by the finances of the Special Administrative Region as they pertained to the previous fiscal year. “The programme aims to share the economic fruits with local residents. As I mentioned before, there is no specific formula for calculating the amount of cash handout. In fact, the Secretary [for Economy and Finance Lionel Leong] has mentioned the amount for the handout depends on the government’s finances in the fiscal year before, as well as on our estimation of the future economic environment,” the spokesperson said. In fact, the Secretary said earlier that the city’s cash handout programme may be adjusted next year, following a possible decrease in the fiscal surplus as a result of declining gaming revenues. The Executive Council member said yesterday that any adjustment to the handout next year will depend upon the fiscal surplus the government can generate for this year. In addition, Mr. Leong said the government hopes to establish a constant system for the programme as there are voices in society urging the government to make the programme quantifiable in order to decide whether the amount of handout is too high or too low.
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