Secretary of Economy and Finance Lei Wai Nong announced on Wednesday the government’s second round of financial support measures for residents, businesses and their employees – those self-employed are also included. This second round of financial support measures currently stands to cost the government MOP 10 billion (US$1.25 billion) and is managed by the public Macau Foundation (FM).
All of this aims to support the local economy as it has been impacted by COVID-19 and the tightened entry and quarantine measures by neighbouring Hong Kong and Guangdong. The policy secretary pledged that the government will do its best to relieve residents’ hardships as soon as possible so as to “boost civil society’s confidence, unity and stability”.
Both permanent and non-permanent residents will benefit from the support measures. Non-resident workers are not covered by them.
The second round of economic assistance measures include:
- From August to December, an additional consumption subsidy (MOP 5,000) will be issued to all Macau residents, together with the first phase which totals MOP 8,000
- Local employees and freelancers registered with the Financial Services Bureau (DSF) for personal income tax (‘imposto profissional’) will be entitled to a MOP 15,000 subsidy → it will not cover public servants and those with a monthly salary of at least MOP 60,000 in the private sector; 260,000 local employees are expected to be covered by this, costing the Treasury MOP 3.9 billion
- Wet market stall lessees, street vendors and tricycle riders will receive a one-off subsidy of MOP 10,000
- Cabbies who rent their taxi will be entitled to a one-off subsidy of MOP 10,000
- Companies will be entitled to a one-off subsidy of between MOP 15,000-200,000, depending on the number of workers they employ → maximum subsidy an employer who runs a number of companies can receive is MOP 1 million (Not covered: public utilities, public bus companies, LRT operator, casino operators, financial companies, schools, universities, social service organisations)
- Unemployed local residents enrolled in government-run occupational training courses will receive a subsidy of MOP 6,656
- Employed local residents enrolled in government-run training courses aimed at enhancing occupational skills will receive a subsidy of MOP 5,000 (employers only allowed to recommend a maximum of five employees for these training courses)
The first phase of the consumption vouchers will cost the government an expected MOP 2.2 billion, while this second phase is expected to cost MOP 3.6 billion, which is not included in the MOP 10 billion-fund for this second round of financial support measures.
Click here for more details regarding this second round of COVID-19 support measures
