'Govt Needs To Roll Out More Relief Measures Now'

Liberal Party leader and lawmaker Felix Chung has called on the government to roll out another round of the Anti-epidemic Fund to help businesses stay afloat.

Speaking on RTHK's Letter to Hong Kong, Chung said many companies are struggling to survive and on the verge of closing. He called for immediate help, warning the local unemployment rate would spike further if more businesses fold.

Chung said the Liberal Party suggests the government utilise the accumulated surplus of the Exchange Fund to support the community when necessary.

He said if the government failed to act, the HK$300 billion spent this year would be in vain, and once businesses close down, many employees are at immediate risk of losing their jobs.

Chung pointed out that Hong Kong is now in a battle against the pandemic and a recession, so the SAR government should act flexibly to relieve the financial burden from its citizens.

He suggested using HK$120 billion of the accumulated surplus of the Exchange Fund to launch several measures, including HK$40 billion to roll out a new round of an employment support scheme, HK$12 billion to set up an unemployment subsidy capped at HK$7,000 for each unemployed person for six months, and HK$56 billion to give out electronic shopping vouchers worth HK$8,000 to each resident to stimulate local consumption.

Enduring the coming half-year will be critical for the survival of many SMEs and the sustainability of the greater economy, he added.