The government had previously paid HK$10,000 to all permanent residents aged 18 or above of the city to face the economic hardships amid the pandemic. The government has no plans for a second cash handout, said Acting Secretary for Financial Services and the Treasury Joseph Chan Ho-lim. The government had previously paid HK$10,000 to all permanent residents aged 18 or above of the city to face the economic hardships as the pandemic halted economic activities, involving a sum of HK$70 billion. Chan said as of October 29, authorities had handed out the HK$10,000 cash handout to a total of 6.3 million eligible residents. He added that another round of cash handout is not on the government’s agenda, stressing that the government must ensure healthy public finances, exercise fiscal prudence and preserve fiscal strength, with a view to coping with known and unforeseen needs, as well as maintaining Hong Kong’s financial stability.

Source: The Standard November 04, 2020 09:22 UTC