Hong Kong government rescue package will let city focus on livelihood issues, and lawmakers must not delay it

The Hong Kong Civic Association welcomes the government’s HK$137.5 billion package for the coronavirus crisis, out of which HK$80 billion will fund an Employment Support Scheme where the government will pay 1.5 million workers 50 per cent of their wages, capped at HK$9,000 a month. The scheme will last six months and will be distributed through employers in two phases, starting before June.

The remaining HK$57.5 billion will cover other ailing businesses, including the tourism and aviation industries, SMEs and tutorial schools, and support job creation and new skills training. Any filibustering delay in the Legislative Council Finance Committee in providing this urgently needed funding will only arouse public anger.

Financial Secretary Paul Chan Mo-po expects the government’s current fiscal reserve of about HK$1.1 trillion to drop to HK$800-HK$900 billion, equivalent to 15 months of public expenditure, at which level he considers Hong Kong’s public finances will still remain sound.

Chief Executive Carrie Lam Cheng Yuet-ngor and her political team, together with hardworking government departments and NGOs, are encouraging all sectors of the community to unite to accept measures to prevent a “third wave” of coronavirus infections from hitting Hong Kong.

This will enable the government to focus more time and energy on revitalising our city’s shrinking economy, and on key livelihood issues including public housing, health care, education, elderly and youth services, and better retirement protection.

Our association supports the call by Bernard Chan, convenor of the Executive Council, to the people of Hong Kong in his column of April 10: “Now is the time for everyone to do every single thing they can to help keep the virus from spreading. Let’s not look back and remember a ‘third wave’ of infections.”

Hilton Cheong-Leen, life president; Frederick Lynn, chairman, Hong Kong Civic Association