Both temporary and permanent residents of Macau will be receiving government cash handouts starting July 6 and ending September 18, as the Executive Council (ExCo) has given its green light to this year’s cash handout scheme.
ExCo’s spokesperson Leong Heng Teng revealed at a press conference yesterday that the government is committed to sharing Macau’s economic wealth with residents, even though gaming revenue dropped again for the 12th straight month in May.
“Truly, the gaming revenue drop does not have a great impact [on the cash handout policy] because we have other areas [of income]… What we are hoping for is to guarantee the population’s general welfare,” said Mr Leong.
For the second time since the implementation of the cash handout scheme in 2008, the Macau government has decided to maintain the subsidy value of the previous year. Permanent residents will be granted a MOP9,000 cash handout, while temporary residents will each receive MOP5,400.
The government will spend over MOP5.8 billion on this year’s handout scheme.
All individuals who have held a Macau ID since the last day of 2014 are eligible to receive a cash handout. The government estimates that there are 607,465 permanent and 68,231 temporary residents who will be entitled to a subsidy this year.
The value of cash payouts has risen every year, except in 2010 and 2015.
Mr Leong stressed that the Executive Council reached a consensus while discussing this year’s handout scheme. They agreed to maintain the cash amounts that were granted to residents the previous year.
He added that the Macau government wishes to continue providing residents with these cash handouts, as they are particularly important for families with lower incomes.
Mr Leong said that the government has never implemented a calculation mechanism to update the handout’s value. Instead, it has determined the cash amount that would be provided to residents based on analysis of the overall budget and Macau’s economic performance.
Nevertheless, he added that the government, taking into account previous experiences and opinions expressed by Macau society, “is trying to implement a regular mechanism [for the cash handout scheme].”
During this year’s Policy Address discussion at the Legislative Assembly, the Secretary for Economy and Finance, Lionel Leong, suggested that the handout’s value might be adjusted next year depending on the government’s budget. He did not rule out the possibility of a decrease in value.
The Macau government spent over MOP5 billion last year on cash handouts to permanent residents, and a further MOP309 million on those to temporary residents.
The government spent over MOP5.5 billion in total on the cash handout scheme in 2014.
Last year, 578,437 permanent and 57,294 temporary residents received subsidies.
The cash handouts will be granted from July 6 until September 18. Individuals who have previously received their income tax reimbursement via bank transfer are also eligible to receive their cash handout using the bank transfer method.
This year the government set up a cash handout scheme support center, which will operate until September 30.
Its been a long time coming, thanks for the up date, Ms. Catarina Pinto.
I bet you that the entire Macao was waiting for some good News.
I went into their Webpage, for an update, apparently nothing happened there since, 2013, good morning! guys!
What do they call themselves Wealth Partaking Scheme? Something along those lines.
We understand that they have an inquiries hot-line that the Public could call and at the China Plaza, for all convenience we have an option between the webpage, telephone or a visit to the above.
This premises is Seasonally Operational Only.
We feel its about time that their website is made available, functional, up and running again.
Where we may in put our Vital Information, like our Macau I.D. Card number (BSM) for an updated information and changes.
Please bear in mind, not everyone is present here in Macao or Hong Kong (the 2 SAR)
Ms. Pinto, you will never know just how “Appreciative” some feel about your Article.
I am one of them.
Have a great week ahead, both at work and at play.