Macao’s annual wealth-sharing handout next year will once again be paid out in cash, Secretary for Economy and Finance Lei Wai Nong has told lawmakers.
Politics
The government has announced that it will submit a bill amending its budget for this year for the third time to the legislature, proposing to allocate MOP 8.15 billion (US$1.02 billion) from its extraordinary reserves so as to cover its expenditure to be spent during the remainder of this year.
The Legislative Assembly passed the outline of a government-initiated bill on fire safety in buildings and certain outdoor venues, proposing to give the Fire Services Bureau law enforcement powers to fine violators of fire safety regulations.
The Legislative Assembly (AL) on Thursday passed the outline of a government-initiated bill regulating the operation of the city’s wet markets, which proposes that residents who want to run a stall will have to bid for a licence, a change from the current practice in which available stalls are simply allocated through a lucky draw.
Chief Executive Ho Iat Seng pledged on Monday to set up a mechanism to normalise the government’s Covid-19 prevention and control measures and to speed up the city’s economic recovery at the same time.
Chief Executive Ho Iat Seng said on Monday that the way the government will give residents its annual “wealth-sharing” handout next year would depend on their views and the development of the COVID-19 pandemic, but he reaffirmed that the government would continue sharing the city’s wealth with residents in cash if “everybody” prefers it that way.
Ho said that the government will hold a public consultation first before drafting amendments to the gaming law. Ho pointed out that according to the full version of the 2021 Policy Address, the government plans to submit a bill amending the gaming industry law to the legislature for debate and vote in the fourth quarter of next year, but whether the schedule could be achieved would depend on the outcome of the public consultation to be held next year.
Chief Executive Ho Iat Seng underlined the Macao government’s continued need to impose an entry ban on foreigners so as to protect the city from Covid-19 risk.
Chief Executive Ho Iat Seng said that Macao would need housing projects for Macao’s sandwich class. Ho said that young people or those who do not live with senior citizens have only a small chance of buying a subsidised home-ownership scheme (HOS) flat.