Secretary for Economy and Finance Lei Wai Nong revealed today (Friday) that next year’s cash handout scheme will be provided in cash as usual and not via the consumption e-cards.
Chief Executive Ho Iat Seng had previously assured that the annual cash handout – MOP10,000 (US$1,252) for residents and MOP6,000 for non-permanent residents – would be maintained in 2021, but with authorities still studying if the money would be allocated through the usual direct transfer and check system or through the e-cards provided to residents for the previous government-backed consumption rounds.
The electronic cards were handed to residents as part of a government consumer subsidy program to counter the Covid-19 pandemic economic impact, divided into two three-month phases, the first providing MOP3,000 per resident and the second MOP5,000.
However, the consumer card scheme only allows residents to spend MOP300 per day in local businesses equipped with Macau Pass payment terminals and have a time limit for spending the provided total amount, while residents are free to use spend or save the usual annual handout as they please.
The issue caused public debate as local authorities preferred the e-card option, arguing it would directly benefit local businesses, while local residents preferred the usual handout scheme, which can be saved or used to pay monthly house rents, with Secretary Lei revealing today that authorities ended up choosing the traditional distribution method.
However, the Secretary still urged residents to make use of the money locally as a way to boost the city’s economy.
“If those MOP10,000 are spent in the local market it will be very positive […] We hope that money can be spent in Macau supporting SMEs and helping the local labour market and employment,” the Secretary added.
