CE, Cabinet To Take 10 Percent Pay Cut

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2020-04-08 HKT 18:58

Share this story

facebook

  • Carrie Lam says the decision to take a pay cut was not based on any political pressure. Photo: RTHK

    Carrie Lam says the decision to take a pay cut was not based on any political pressure. Photo: RTHK

Chief Executive Carrie Lam said on Wednesday that she and principal government officials will take 10 percent pay cuts for 12 months as the city struggles to cope with an economy hit hard by the ongoing coronavirus pandemic.

This comes after lawmakers from both the pro-establishment and opposition camps criticised the recent pay rise announced for the Chief Executive, which had ensured Lam continues to be one of the most highly paid leaders in the world.

But Lam said the decision to cut pay was not due to political pressure.

"We want to show we are going through this difficult time with the people," said Lam. "It's not a response to a certain political situation or request from anyone."

The CE said the pay cuts had been planned since the government started working on its third package of pandemic relief measures, and it was not a newly added item within the past two or three days.

In February, the government said Lam and her cabinet would each donate a month's salary to the Community Chest to show solidarity with the public amid the slowing economy.

But the HK$120,000 pay rise, which saw Lam's annual salary hitting HK$5.21 million, was slammed by critics who pointed out that it came at a time when thousands were facing job losses due to the coronavirus outbreak choking the city's economy.

The Executive Council has followed suit and cut the pay of its members by 10 percent for one year.

In a statement, non-official Exco members say that's "... to support the decision of the Chief Executive and her team in taking a pay cut and encourage different sectors of the community to show solidarity with the people."

Exco members have already announced the donation of one month's honorarium to charities in March.

____________________________



Last updated: 2020-04-08 HKT 20:31

.

RECENT NEWS

HSBC Launches TradeCash In Hong Kong To Accelerate Trade Finance Access

HSBC has launched a digital trade finance tool called HSBC TradeCash, allowing businesses in Hong Kong to upload sales ... Read more

HKEX And HKMA Launch Pilot On E-HKD For After-Hours Margin Payments

Hong Kong Exchanges and Clearing Limited (HKEX) and the Hong Kong Monetary Authority (HKMA) have launched a joint pilot... Read more

Can You Trust AI Agents To Stay Within Your Intent?

Checking someone’s ID at the door of a nightclub tells you who they are, but it does not tell you how they will behav... Read more

China CITIC Bank Taps Tencent Cloud For Fintech 2.0 Banking Push In Hong Kong

Tencent Cloud has signed a strategic cooperation agreement with China CITIC Bank International (CNCBI) to support the d... Read more

Payful Launches Cloud-Based Visa Charge Card Programme Via BPC SmartVista

Chinese cross-border payment company Payful has launched a cloud-native Visa charge-card programme for corporate and me... Read more

Hong Kong Banking Taskforce Convenes To Plan Northern Metropolis Financing

The Northern Metropolis Financial Advisory Taskforce held its inaugural meeting on 17 June to discuss the financing nee... Read more