Cash handout scheme will cost a ‘few per cent’ to run, Hong Kong finance chief Paul Chan says
Top officials present a united front on the proposed HK$4,000 payout a day after lawmakers across the political spectrum criticised the plan
Administering the HK$4,000 cash handout for Hongkongers will cost a few per cent of the HK$11 billion (US$1.4 billion) scheme with little red tape, top officials said on Sunday, as they tried to ease public concerns about it being complicated and costly.
Chief Secretary Matthew Cheung Kin-chung and Financial Secretary Paul Chan Mo-po presented a united front a day after lawmakers across the political spectrum criticised the scheme – announced amid intense political and public pressure – as too complex, fearing costs would balloon.
“The administration cost of the proposed scheme will depend on the number of applicants, but preliminarily it is expected to be a few per cent of the sum intended to be dished out,” Chan wrote on his weekly blog on Sunday.
“We will try our best to minimise the relevant cost.”
