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Macau set to share wealth in policy note
Source: Xinhua |
November 16, 2011, Wednesday
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Print Edition
Print Edition
CHUI Sai On, chief executive of the Macau Special Administrative Region, yesterday delivered his policy address for the fiscal year 2012, which highlighted measures concerning social welfare and diversification of Macau's economy.
Chui delivered the 2012 policy address, his third since assuming office in December 2009, at the city's Legislative Assembly.
Chui proposed that the government's Wealth Sharing Scheme be continued next year, under which each permanent resident will receive 7,000 patacas (US$875) from the city government while non-permanent residents will get 4,200 patacas, the same amount as this year.
The official data showed the average Composite Consumer Price Index for the first nine months of 2011 rose 6.21 percent year on year. For the 12 months ended in September, the average Composite CPI rose by 5.11 percent from the preceding period.
To help ease the inflationary pressures on local residents, the city government will also implement tax-exempt measures and subsidies on education, medicare and housing, among others next year.
Tax-exempt measures and subsidies will cost the city government 1.47 billion patacas and 8.57 billion patacas respectively, Chui said.
He said the city government will take measures to ensure that local residents benefit from the fast development of Macau's economy, which is may grow by double digits this year.
Official figures indicated that Macau's economy in the first half of 2011 grew by an annual 22.9 percent.
Chui's policy address also reiterated the city government's decision to properly regulate the pace and scale of the gaming sector development.
Chui delivered the 2012 policy address, his third since assuming office in December 2009, at the city's Legislative Assembly.
Chui proposed that the government's Wealth Sharing Scheme be continued next year, under which each permanent resident will receive 7,000 patacas (US$875) from the city government while non-permanent residents will get 4,200 patacas, the same amount as this year.
The official data showed the average Composite Consumer Price Index for the first nine months of 2011 rose 6.21 percent year on year. For the 12 months ended in September, the average Composite CPI rose by 5.11 percent from the preceding period.
To help ease the inflationary pressures on local residents, the city government will also implement tax-exempt measures and subsidies on education, medicare and housing, among others next year.
Tax-exempt measures and subsidies will cost the city government 1.47 billion patacas and 8.57 billion patacas respectively, Chui said.
He said the city government will take measures to ensure that local residents benefit from the fast development of Macau's economy, which is may grow by double digits this year.
Official figures indicated that Macau's economy in the first half of 2011 grew by an annual 22.9 percent.
Chui's policy address also reiterated the city government's decision to properly regulate the pace and scale of the gaming sector development.
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