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$400m saved as 80,000 lose out on vouchers
Authorities are saving some HK$400 million public reserve on the upcoming distribution of the HK$5,000 consumption voucher this Sunday, April 16, as 80,000 citizens who have either migrated or no longer eligible for the 2022 consumption voucher have been disqualified from the benefit, head of the financial secretary's private office Howard Lee Man-sing said.
Lee said that about 250,000 Hongkongers were stripped off from the scheme this year, but 170,000 managed to reverse authorities' decision in appeals, by proving they never left Hong Kong or that they have returned to the SAR for good.
In a special financial committee meeting with the secretary for financial services and the treasury, Lee said assessments were carried out - in phase two of the 2022 consumption voucher scheme - to check whether the recipients have emigrated or intended to do so.
The criteria assessed include: whether the registrants have submitted valid claim requests for early withdrawal of their Mandatory Provident Fund or benefits under occupational retirement schemes with reasons of leaving Hong Kong permanently, whether applicants stayed in Hong Kong for at least one day in the past 36 months, and whether their identity documents were issued by the SAR authorities.
Results showed about 250,000 registrants were ineligible. They were originally excluded from the list of eligible recipients of the HK $5,000 consumption voucher this year.
However, at the end of February, the Secretariat received about 180,000 applications for review, out of which 170,000 were successful in claiming their eligibility status by proving that they had not permanently migrated from Hong Kong.
The voucher, amounting to HK$33 billion, is expected to benefit 6.5 million people including permanent residents and new arrivals aged 18 and above. Some 100,000 people who have come to live in Hong Kong to work or study through different admission schemes will receive HK$2,500, totaling to HK$250 million in vouchers.
A sum of HK$64 billion was used in the HK$5,000 consumption voucher plan last year, with an administration fee of HK$400 million. The authority is expecting a similar amount this year to be used as service fee and promotions.
Lee said they are more flexible to reduce the administration fee this year.
The third CVS of HK$5,000 will be distributed to eligible residents in two installments, with the first HK$3,000 to permanent residents and new arrivals and HK$1,500 to those living in Hong Kong through different admission schemes and the remaining HK$2,000 will be disbursed in July.
In a special financial committee meeting with the secretary for financial services and the treasury, Lee said assessments were carried out - in phase two of the 2022 consumption voucher scheme - to check whether the recipients have emigrated or intended to do so.
The criteria assessed include: whether the registrants have submitted valid claim requests for early withdrawal of their Mandatory Provident Fund or benefits under occupational retirement schemes with reasons of leaving Hong Kong permanently, whether applicants stayed in Hong Kong for at least one day in the past 36 months, and whether their identity documents were issued by the SAR authorities.
Results showed about 250,000 registrants were ineligible. They were originally excluded from the list of eligible recipients of the HK $5,000 consumption voucher this year.
However, at the end of February, the Secretariat received about 180,000 applications for review, out of which 170,000 were successful in claiming their eligibility status by proving that they had not permanently migrated from Hong Kong.
The voucher, amounting to HK$33 billion, is expected to benefit 6.5 million people including permanent residents and new arrivals aged 18 and above. Some 100,000 people who have come to live in Hong Kong to work or study through different admission schemes will receive HK$2,500, totaling to HK$250 million in vouchers.
A sum of HK$64 billion was used in the HK$5,000 consumption voucher plan last year, with an administration fee of HK$400 million. The authority is expecting a similar amount this year to be used as service fee and promotions.
Lee said they are more flexible to reduce the administration fee this year.
The third CVS of HK$5,000 will be distributed to eligible residents in two installments, with the first HK$3,000 to permanent residents and new arrivals and HK$1,500 to those living in Hong Kong through different admission schemes and the remaining HK$2,000 will be disbursed in July.
