Chui pledges measures to face inflation
      Author:Anonymous     Source: http://www.macaudailytimes.com.mo     Release Time:3/4/2011 9:10:53 AM     View Times:10124
The Chief Executive Fernando Chui Sai On reaffirmed yesterday that the Government will undertake short- and long-term measures to help residents face increasing inflation.
Asked by the media to comment on the cash hand-out scheme launched by the Hong Kong Government for the second half of this year, Chui stressed that “the Government has been very attentive to inflation and living conditions of residents, taking measures in the long term, to support disadvantaged people, and in the short-term, according to the actual situation of Macau”.
Hong Kong’s Chief Executive Donald Tsang announced on Wednesday the government will give HKD 6,000 to all adult permanent residents in addition to salary tax cuts for all tax payers. The handout will replace an earlier plan that would inject the same amount of money into residents’ retirement funds.
In the meantime, Macau residents are already receiving this year’s cash handout, a policy that was set up by the Government of former Chief Executive Edmund Ho Hau Wah, three years ago.
However, Macau’s cash handout was reduced this year, drawing much criticism. Every resident who holds a valid or renewable Macau permanent or non-permanent identity card will be able to receive respectively MOP 4,000 or MOP 2,400.
The livelihood measure will cost the Government MOP 2.34 billion, down from MOP 3.38 billion in 2010, when the handout amounts were respectively MOP 6,000 and MOP 3,600. Last year about 593,000 Macau residents benefitted from the scheme.
Speaking to reporters in Beijing yesterday, Chui Sai On made no comments on the possibility of launching a second cash-handout this year, despite some calls from the local society.
Chui added that if the inflation rate reaches 3 percent, the Government is set to launch a package of measures. He also said that the Central Government has already promised to ensure the price stability and safety of products supplied to Macau. According to the latest government’s statistics, for the 12 months ended January 2011, the average inflation rose by 3.21 percent.
Macau’s Chief Executive was speaking upon his arrival in Beijing, where he will sign the Framework Agreement on Guangdong/Macau Co-operation this Sunday and attend the opening ceremony of the 4th annual meeting of the 11th National People’s Congress (NPC).
Chui said that Guangdong and Macau representatives will hold a meeting next month to put the plan into action for the creation of the Scientific and Industrial Park of Traditional Chinese Medicine, on Hengqin Island.

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