Anti-epidemic funding approved

April 18, 2020

Chief Executive Carrie Lam today welcomed the passage of the funding application for the second round of the Anti-epidemic Fund and other relief measures by the Legislative Council Finance Committee.

 

In a statement, Mrs Lam expressed heartfelt thanks to the LegCo Finance Committee for approving the funding application following about 20 hours of discussion so that the Government can implement various relief measures worth $137.5 billion as soon as possible.

 

“This round of relief measures includes an $81 billion Employment Support Scheme, subsidies to hard-hit sectors, financing guarantee scheme to help ease the cash flow of businesses, relaxed eligibility requirements for the Comprehensive Social Security Assistance to support the unemployed and the implementation of an MTR fare concession, benefiting directly and indirectly millions of members of the public.

 

“Together with the first round of relief measures under the Anti-epidemic Fund worth $30 billion and the relief measures in the 2020-21 Budget costing $120 billion, the Government has committed a total of $287.5 billion, accounting for 10% of Hong Kong's Gross Domestic Product.

 

“Given the epidemic's unprecedented impact on Hong Kong's economy, the Government has to dig deep into its fiscal reserves accumulated over the years to help our businesses and people.”

 

She added that various departments will implement the relief measures at full steam to achieve the effect of safeguarding jobs and supporting enterprises.

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