CE Ramps Up Student And Transport Subsidies
"); jQuery("#212 h3").html("

"); });
2019-10-16 HKT 14:04
The Chief Executive, Carrie Lam, has offered an array of sweeteners to students and poor families in her policy address.
Lam said she’s aware that the costs associated with children starting a new school year pose a heavy burden on parents, and suggested regularising the one-off provision of a student grant which the Financial Secretary announced in August this year.
From the 2020/2021 academic year onwards, an annual grant of HK$2,500 will be given to all secondary and primary school students, as well as children in kindergarten. The grant is expected to benefit about 900,000 pupils across the city.
The Chief Executive added that her government will give a boost to kindergarten-age children by introducing a 20-month pilot scheme early next year, to provide early intervention for those who show signs of having special needs.
Another 2,500 free places will be provided under an existing after-school care programme, with various subsidies increased and eligibility requirements relaxed. More than 5,700 students and their families are expected to benefit from these measures.
Payments under the existing Working Family Allowance, meanwhile, will be increased by between 16.7 percent and 25 percent, while the child allowance will be increased substantially by 40 percent.
For a four-person household with two eligible children, for instance, beneficiaries will get 30 percent more – with the current HK$3,200 a month going up to HK$4,200.
Meanwhile, maximum payments under the existing Public Transport Fare Subsidy Scheme will be increased from HK$300 to HK$400.
People can claim up to one third of their monthly expenses on public transport – up from a quarter at present.
Lam said this will cost the government around HK$3.1 billion a year – up from the current annual expenditure of around HK$2.3 billion.
Ant Internationals Ant Bank And Bettr Selected For Hong Kongs GenAI Sandbox++
Digital bank Ant Bank and embedded financial solutions provider Bettr have been selected to participate in Hong Kong’... Read more
Visa And BOCHK Tapped For Hong Kong AI Sandbox To Test Agent-Initiated Commerce
Visa has announced that it is partnering with Bank of China (Hong Kong) (BOCHK) in the GenA.I. Sandbox++. With the Visa... Read more
Hong Kong Regulators Pick 36 Agentic AI Use Cases For GenA.I. Sandbox++
The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and... Read more
Finloop And Yunfeng Financial Become Latest Anchorpoint Authorised Distributors
Finloop and Yunfeng Financial have joined Anchorpoint’s HKDAP stablecoin beta access programme as authorised distribu... Read more
Standard Chartered Becomes First Bank To Distribute HKDAP Stablecoin
Standard Chartered Bank (Hong Kong) Limited (SCBHK) has become the first bank distributor of HKDAP, the Hong Kong dolla... Read more
Lianlian DigiTech Profit Doubles In H12026, Agent Wallet Pushes To Address Payment Needs
Lianlian DigiTech Co., Ltd, a payment service provider headquartered in China, reported its interim results for the fir... Read more