The Government is to launch from April a four-strand scheme aimed at supporting employment, stabilising the economy, and caring for people’s livelihoods.

The Secretary for Economy and Finance, Mr Lei Wai Nong, detailed the scheme during a press conference today.

As the Macao economy was undergoing a recovery phase, the Government had decided to launch fresh and targeted measures to support that process. At the core of the new measures was to enable – via Government input in the market –, members of the public to benefit from their local consumer spending, while also allowing local businesses to profit from a resulting increase in such spending. These things would therefore protect employment, Mr Lei said.

With concerted effort from the Government and by Macao people across the city, it was anticipated that a more effective and enduring domestic economic cycle could be generated than had been previously experienced, added the Secretary.

The four-strand scheme runs respectively from April to December. It covers:

i) bringing forward to April, the date for distributing funds from the Wealth Partaking Scheme. The scheme accounts for around 7.235 billion patacas of the Government’s annual budget.

Under the Wealth Partaking Scheme, each eligible holder of a Macao permanent ID card is entitled to receive 10,000 patacas, and each non-permanent ID card holder is entitled to receive 6,000 patacas.

ii) a three-part programme to boost local consumption:

1. issuance of vouchers (accounting for about 5 billion patacas of the Government budget) through locally-recognised electronic payment platforms. This is designed to benefit Macao ID holders, non-resident worker ID holders, and non-locals studying in Macao higher-education institutes. Starting from May, those eligible will be able to redeem Government vouchers through accredited accounts, via any of the locally-recognised electronic payment platforms. Such vouchers could only be utilised against the value of purchases, when the sum being spent in a single transaction amounted to three times the face value of an issued voucher. Each eligible account will be able to redeem up to 600 patacas-worth of vouchers per month, and up to 200 patacas per day.
    
2. consumption benefits for the elderly (about 567 million patacas from the Government budget). As well as the above-mentioned vouchers issued via electronic-payment platforms, Macao ID holders aged 65 or above will receive an aggregate discount of up to 5,000 patacas on purchases made via their “Senior Citizen Personalised Macau Pass Card”.
    
3. subsidies (about 120 million patacas from the Government budget) for Macao residents to take part in local tours or to stay in hotels, during the period of April to December. On the basis of the “Macao Ready Go! Local Tours” scheme implemented in 2020, each Macao ID holder will be eligible to receive a 280-pataca subsidy. In addition, each Macao ID holder will receive a 200-pataca subsidy on hotel accommodation. The aim is to encourage hotels to launch a greater number of package promotions.

iii) upgrade arrangements for occupational skills (around 334 million patacas from the Government budget). This will involve:

• optimising the subsidised-training scheme, expanding it to cover employees from the gaming sector;
• lifting the quota limit set for each training programme; and
• enabling employees subject to ‘no-pay’ leave arrangements – and that have not been put forward by their respective employers for Government-organised paid training – to enrol themselves on Labour Affairs Bureau courses.

iv) measures to benefit employees and businesses:

1. tax-relief and tax-exemption measures (involving what would otherwise be 1.056-billion patacas of Government income)

• to rebate 70 percent of the personal income tax for the fiscal year 2019 for each Macao resident liable for such tax. The ceiling of such rebate for each individual will be 20,000 patacas;
• to deduct from the tax liabilities of businesses, any profit tax otherwise payable for 2020, up to a maximum of 300,000 patacas. The tax measure covers commercial enterprises including local small and medium-sized enterprises (SMEs);
• to waive the 5-percent tourism tax payable by establishments such as hotels, bars, gymnasiums, and karaoke venues. 

Other measures related to people’s welfare (involving 14.9 billion patacas):

• This covers items mentioned in the Government’s Policy Address for Fiscal Year 2021, and includes: the Heath Voucher scheme; education allowances; financial assistance, disability gratuity; waiver of the industrial tax on all commercial and industrial operations; waiver of Government charges on bank services; and others.

The Government had introduced previously two rounds of support measures in order to ease the economic pressure faced by the Macao public and local businesses stemming from the COVID-19 pandemic. The two rounds had achieved expected results in terms of: minimising the financial burden shouldered by the Macao public and local businesses; stabilising the economy; and protecting employment. Such measures had helped maintain the social stability of Macao.