'Most Workers Don't Expect Govt Subsidies To Help'
"); jQuery("#212 h3").html("

"); });
2020-04-26 HKT 18:35
The Federation of Unions (FTU) says a survey of around 300 workers currently on unpaid leave shows most don’t expect to benefit from the government’s HK$80 billion wage subsidy scheme, and this underlines the need for a brand new initiative to help those suffering under the economic devastation of Covid-19.
Under the scheme, the government has promised to foot up to HK$9,000 per month in wages for all workers over six months – but only companies that promise not to sack staff will get these subsidies.
However, critics have been saying the scheme leaves out those who have already been sacked, or are put on no-pay leave.
Eighty percent of respondents to the FTU’s survey said they’re convinced they won’t personally benefit from the scheme. And only around one-third of them believe their bosses will actually give the money to their staff, and not sack workers anyway.
Former FTU lawmaker Bill Tang says the findings show there’s a lot of “mistrust” between employers and employees.
He says one possible way to ease such suspicions is for the government to make public all the details of the companies who end up getting subsidies, the workers they claim to employ, as well as they amount of money they’re receiving under the scheme.
“So not only the workers, but also the trade unions [would] know the details openly” to fully monitor the scheme, Tang explained.
The union also urged the government to immediately make it easier for people who’ve already lost their jobs to claim unemployment benefits under the Comprehensive Social Security Assistance (CSSA) scheme.
He said the FTU has found that the family members of many people who’ve lost their jobs aren’t willing to furnish all their financial information and their assets to the government as part of the application process.
“We must help the jobless, and those who’re barely earning anything on unpaid leave. But this must be done quickly. If you investigate this and that, and the whole family must be probed… you’ll end up investigating a corpse”, Tang warned.
He said the jobless should be allowed to apply for unemployment benefits as an individual, not as part of a family.
China To Inject US$44 Billion Into State Banks To Boost Tech And Curb Risks
China said it will inject 300 billion yuan (US$44 billion) into state-owned banks this year to guard against systemic r... Read more
Hong Kong Regulators Expand GenAI Sandbox To Insurance, Securities And MPF Sectors
The Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), Insurance Authority (IA), and Mandato... Read more
South Korea To Cap Crypto Exchange Ownership At 20%
South Korean regulators and lawmakers have agreed to cap major shareholder stakes in cryptocurrency exchanges at 20%, d... Read more
DBS Hong Kong Partners With Know Your Customer To Automate SME Onboarding
Know Your Customer Limited, a provider of automated business verification solutions, has partnered with DBS Hong Kong t... Read more
Hong Kong Banks Extend Loan Repayment Relief For Tai Po Fire Victims
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have met to discuss additional su... Read more
Hong Kong And Macao Deepen Financial Cooperation With Updated Agreement
The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) held a meeting on March 3 to strengt... Read more
