Govt Freezes Minimum Wage For The First Time

"); 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_1573669_1_20210202180403.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/k2/1573669-20210202.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1573669-20210202.htm', 'DCS.dcsqry', '' ); } } }); }); });
2021-02-02 HKT 17:32
Hong Kong's minimum wage has been frozen for the first time since its implementation in 2011, and the welfare minister denied it's unfair to grassroots workers.
Secretary for Labour and Welfare Law Chi-kwong announced on Tuesday that the city's minimum wage will be frozen at HK$37.5 an hour, the first time it won't go up at the end of a biennial review.
Law said the Minimum Wage Commission, which completed the review in October, made the suggestion having taken into consideration the economic recession and high unemployment, and the government accepted the recommendation.
In its report, the commission said its majority view is that if there were an increase in the minimum wage, more employers would cut low-paying jobs.
The freeze will take effect in May for two years.
Law rejected claims that that freezing the minimum wage is unfair to grassroots workers, saying they can benefit from other government welfare policies such as Comprehensive Social Security Assistance.
The chairwoman of the Minimum Wage Commission, Priscilla Wong, said the freeze doesn't mean low-income workers would have less purchasing power. She pointed out that the previous wage increase in 2019 -- an 8.7 percent rise from HK$34.5 to HK$37.5 -- has outpaced inflation so far.
Law said the commission had struck "a fine balance" between the views of management and labour.
"Definitely, expectations range from a reduction in the minimum wage to substantially increasing it. The commission considered all the views and struck a balance," he said.
There have been reports the employee side wanted an increase to at least HK$40, while employers countered with a modest rise to HK$38, or even a freeze or a pay cut.
The minimum wage had gone up following each biennial review thus far until now.
Hong Kong Launches Smart Seniors Anti-Scam Ambassador Programme To Protect The Elderly
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) jointly organised the launch cere... Read more
Payment Connect Sees Active Participation In Cross-Boundary Remittances
The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) officially launched Payment Connect on ... Read more
GoTyme Hong Kong Is Entering The Scene With Flexible Financing
GoTyme Hong Kong, which is part of the GoTyme Merchant Cash Advance (MCA) Asia business line under Tyme Group, announce... Read more
BGE Is Hong Kongs Latest Licensed Virtual Asset Trading Platform
Hong Kong BGE Limited (BGE) has secured its license to operate as a virtual asset trading platform (VATP) as of 17 June... Read more
China Backs Digital Yuan And Promotes Multi-Polar Currency System
The head of China’s central bank has promised to boost the global adoption of the digital yuan and called for the dev... Read more
JD Targets Stablecoin Licenses In Multiple Markets For Faster Payments
JD.com plans to secure stablecoin licenses in a series of major markets, founder Richard Liu announced at a Beijing pre... Read more