Covid-19 Subsidy Coverage Not Perfect: Law Chi-kwong
"); jQuery("#212 h3").html("

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1521441_1_20200419094144.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1521441-20200419.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1521441-20200419.htm', 'DCS.dcsqry', '' ); } } }); }); });
2020-04-19 HKT 09:41
The Secretary for Labour and Welfare, Law Chi-kwong, has acknowledged there are gaps in the government's efforts to help workers and the unemployed through the Covid-19 pandemic, but said it is the best they can do right now.
Speaking on RTHK's Letter to Hong Kong, Law outlined the measures the administration has taken in its HK$137.5 billion anti-epidemic fund to provide support for the unemployed, and help businesses retain jobs.
Law explained that the government had to use the existing Mandatory Provident Fund and other retirement schemes as a framework to disburse subsidies for workers because there is no existing system that covers every employer and employee in Hong Kong.
The scheme has been criticised for leaving out many workers such as those who have already lost their jobs.
Law said while using the MPF system covers the “great majority of the workforce”, he acknowledged that “this is definitely not sufficient.”
He said that’s why the authorities devised sector-specific schemes to help trades such as catering, construction and transport, which aren’t well covered by the provident fund systems.
“Though all the schemes I mentioned… still cannot cover everyone in the workforce, this is the best we can do in making use of existing systems so that we can launch this round of Anti-epidemic Fund in the shortest possible time to help our employers and employees to survive the challenges that are with us now”, Law said.
“Any new systems to be built from scratch will not be able to provide the necessary timely support that employers and employees desperately need”, he added.
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
