My Take | Good, bad and ugly of HK$30b relief package
- For a government sitting on a pile of money, it’s never wrong to give some of it back to its real owners, the people of Hong Kong; still, one only wishes any handouts could be done in a more effective and equitable way
The government’s HK$30 billion relief package to counter the threats of the novel coronavirus is justified and necessary. But its scattershot handouts, so typical of the government, will considerably diminish their effectiveness.
Some opposition pan-democrats have a point: it may actually make more sense if officials just put money directly into the pockets of all the city’s permanent residents.
First, the good part. HK$10.19 billion of the package will be used for: the operations and staff of the Hospital Authority; investment in technology to boost local production of surgical masks; the purchase of more protective gear; and financial aid for property management staff, security guards, and construction and cleaning workers most at risk of contagion besides medical workers.
Now, the not-so-good part. HK$16.9 billion will be used as one-time handouts to retailers, food and drink service providers, transport companies, students, the arts and culture sector, guest houses and travel agents.
If this is meant as a bailout, it won’t help much. Under the scheme, those who have a general restaurant licence, a marine restaurant licence or a canteen licence will be eligible for a one-off grant of HK$200,000.