(Fighting against New Crown Pneumonia) The Hong Kong government provides 50% of wage subsidies to all employers in Hong Kong
China News Agency, Hong Kong, April 8 (Reporter Zeng Ping) The Chief Executive of the Hong Kong Special Administrative Region, Lin Zheng Yue'e, and a number of officials of the SAR Government held a press conference on the 8th and announced that they will provide 50% of the wage subsidy for eligible employers in Hong Kong for half a year. The beneficiary employer must promise not to lay off employees. In addition, Lin Zhengyue and key officials of the SAR government will cut their salaries by 10% in the coming year.
On April 8, the Chief Executive of the Hong Kong Special Administrative Region, Lin Zhengyue, held a press conference with a number of bureau chiefs. The meeting announced the launch of a HK $ 80 billion employment insurance plan, which will provide qualified employers with a wage subsidy of 50% of the employee ’s salary, with a maximum limit for each employee. HK $ 9,000 for 6 months. China News Service reporter Qin Louyue
The Hong Kong SAR Government announced on the same day the details of the second round of "Epidemic and Anti-epidemic Fund" subsidy, totaling about 137.5 billion yuan (HK $, the same below). The main measures include: using 80 billion yuan to provide eligible employers with 50% salary subsidies, each employee is capped at 9,000 yuan, for a period of 6 months, 1.5 million employees are expected to benefit, the first phase will be paid no later than June this year; use 21 billion Yuan provides subsidies for specific industries; optimizes the financing guarantee plan for SMEs; relaxes the upper limit of the assets of the CSSA scheme; and reduces the subway fare by 20% from July.
"We have to do our best to prevent the expected corporate failures and large-scale layoffs." Lin Zhengyue said that the new crown virus has brought unprecedented challenges to Hong Kong, so the SAR government will also launch unprecedented measures. She pointed out that, together with the first round of 30 billion yuan of the "Epidemiological and Anti-epidemic Fund" and the 120 billion yuan support measures involved in the budget, the SAR government's short-term relief measures for citizens and enterprises have reached 287.5 billion yuan.
On April 8th, the Chief Executive of the Hong Kong Special Administrative Region, Lin Zhengyue (China), held a press conference with a number of bureau chiefs. The meeting announced the launch of a HK $ 80 billion guaranteed employment plan, which will provide eligible employers with a wage subsidy of 50% of the employee ’s salary The maximum number of employees is HK $ 9,000 for 6 months. China News Service reporter Qin Louyue
Lin Zhengyue said that in order to share the hardship with the public, he and the main officials of the SAR government, including 3 directors, 13 directors, and the Chief Executive ’s Office, will reduce their salaries by 10% in the next 12 months. "What is needed now is that we work together to fight the epidemic together."
Chen Maobo, the Financial Secretary of the Hong Kong Special Administrative Region Government, said that the impact of the new crown pneumonia epidemic on the global and Hong Kong economies exceeded the 2008 financial tsunami. In order to avoid a spiraling decline in the economy and employment, it is necessary to decisively introduce measures to support enterprises, secure employment, and ease the hardship of the people.
Chen Maobo predicts that multiple rounds of measures and severe economic situation will further increase the fiscal deficit this year, reducing Hong Kong's fiscal reserves of about 1.1 trillion yuan to 8,000 to 900 billion yuan. This reserve is equivalent to 14 to 15 months of government expenditure, so Hong Kong ’s public finances remain sound.
Chen Maobo said that the fiscal reserves gradually established in the past when the economy is improving are to play a role when difficulties are encountered, so as to enable Hong Kong to launch large-scale countercyclical support measures in a difficult environment to alleviate the economic downturn to the public. The impact of life. (Finish)