Editorial | Hong Kong voucher scheme to provide timely relief during coronavirus pandemic
- Unlike previous cash handouts which may have been put in the bank by recipients, the e-vouchers are guaranteed to boost retail, dining and other industries and will arrive after 17 months of economic hardship fuelled by the pandemic
Even before the full details of the shopping voucher scheme were formally announced on Friday, the hype over the past few months has already inspired eager minds to make the most of it.
Coming after 17 months of economic hardship fuelled by a devastating pandemic, the government handout is needed more than ever. It should provide some timely relief to individuals and the economy as a whole.
Unlike previous cash handouts which may have been put in the bank by recipients, the e-vouchers to be made available in phases are guaranteed to boost retail, dining and other industries.
Those using e-wallets can get money in two instalments. Stored-value Octopus cards may stretch the money over longer months in three instalments.
The first batch is payable as early as August. Overseas online shopping platforms as well as payments to the government and fees such as tuition and school expenses are excluded.
The HK$36 billion (US$4.64 billion) subsidy scheme creates more than just a feel-good sentiment. The money can have an enormous impact on the local economy.
