Govt Urged To Boost Welfare Spending In Budget
"); jQuery("#212 h3").html("

"); });
2019-02-07 HKT 12:39
About twenty Democratic Party members staged a protest outside the government headquarters demanding the administration put more money into social welfare in the upcoming budget.
The party's chairman, Wu Chi-wai, says he hopes the government will use its huge surplus to improve public healthcare and elderly services, as well as offer tax rebate and rates waiver.
He says as long as the government invests more in social services, the public won't mind if there's no cash handout.
Separately, about 30 members of the League of Social Democrats and People Power marched to Government House asking for better welfare for the elderly.
The League of Social Democrats' chairman, Avery Ng, called on the government to spend HK$100 billion on a universal pension.
He also said Chief Executive Carrie Lam should apologise to the elderly, for cutting the social welfare payment for those aged between 60 and 64.
Lobbying is expected to increase ahead of February 27, when the Financial Secretary, Paul Chan, will deliver the budget.
On Wednesday, the pro-government Federation of Trade Unions called on Chan to push forward plans to scrap the controversial MPF offsetting mechanism as soon as possible.
The government is also under scrutiny over changes to social welfare eligibility, which raised the age from 60 to 65.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more