'Govt Offer Is A Face Saving Ploy By Carrie Lam'

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

Related News Programmes

"); });

2019-01-18 HKT 11:05

Share this story

facebook

  • 'Govt offer is a face saving ploy by Carrie Lam'

Labour Party legislator Fernando Cheung on Friday dismissed a compromise formula on CSSA payments reportedly being offered by the government as a face-saving move by Chief Executive Carrie Lam which won't actually benefit the elderly.

The government, which has been under fire from lawmakers on all sides for changing the eligibility age for the payments to 65, has reportedly offered an extra HK$1,000 per month for 60 to 64-year-olds if they prove they can't find work.

Lam came under fire when she rejected calls by lawmakers not to implement the change, saying it was Legco which passed the rule. This angered the legislators across the party lines.

The Chief Executive is tipped to announce the compromise offer on Friday.

Cheung said the reported new offer is away to escape from the mistake the administration has made.

"This is a face-saving measure rather than a real service to the people in need," the opposition lawmaker said.

He said he hoped Lam would come out and say the government is postponing the measure for a few years and start some pilot projects that can eventually replace CSSA.

The age change from 60 to 65 for eligibility is to become effective from February.

RECENT NEWS

Future Fintechs Hong Kong Subsidiary Seeks VASP And Asset Management Licenses

Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidi... Read more

Can Regulation Scale With Innovation? Inside The Stablecoin Plans Of HK And The U.S.

Back in 2022, stablecoins were still an emerging topic. Yet, they stirred enough flurry for the Hong Kong Monetary Auth... Read more

Cyberport Start-ups Forge Regional Fintech Ties At MyFintech Week 2025 In Malaysia

Cyberport led a delegation of its fintech start-ups to MyFintech Week 2025 (MyFW 2025), held in Kuala Lumpur from 4 to ... Read more

Hong Kongs Stablecoin Law Triggers Industry Concerns Over KYC Rules

Hong Kong’s newly implemented stablecoin law, in effect since 1 August, has sparked concern among some in the industr... Read more

Stopping Fraud At The Gate: The New Imperative For Registration & Transaction Monitoring

The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and al... Read more

Hong Kong Private Banks See 14% Growth, Hire 400 More Wealth Managers

Hong Kong’s private banking and wealth management sectors are poised for further growth in hiring and office expansio... Read more