Transcript of remarks at press conference on retirement protection initiatives in 2017 Policy Address (with photos/video)
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Reporter: Just want to follow up on that question just now. He explained to us why would the pro-independence group pose a greater public threat to people going to the Chinese New Year bazaar anywhere. Is it because of their political stance or what would you imagine would happen without knowing what they are actually selling there? And also another question about MPF offset mechanism. Well, you guys are proposing to gradually lower the amount of subsidy given to employers over the 10 years' transitional period, but employers are already saying, well, after these 10 years we'll be left in the cold with no help from the Government whatsoever. How are you going to convince and sell them on the plan? And how are you going to respond to criticism that the proposed welfare plans are not only for poverty alleviation and are actually useful for retirement protection?
Secretary for Food and Health: I would like to say that the Food and Health Bureau, through the Food and Environmental Hygiene Department, is responsible for the operation of the year end markets. In undertaking that responsibility, we have to ensure the safety of the citizens and public order as a whole.
Chief Secretary for Administration: On the question of the MPF, the first question is the 10-year transitional period which provides a very important cushion, and also a transition – a very important transition for employers to adjust to the new environment and also for them to reorientate their own human resources policies if necessary. So it's a long breathing space, a long time gap before they really have to shoulder, complete the responsibility. As I said, this is unprecedented, and we're prepared to really shoulder the responsibilities given the unique circumstances of the case, and particularly bearing in mind the many SMEs in Hong Kong, their affordability. So we balanced, in fact, the whole equation: it's the interests of employees on the one hand, at the same time affordability of our many small, medium enterprises in Hong Kong.
The second question: on poverty alleviation. The plan we rolled out now on enhancing Old Age Living Allowance and so on, so forth, must not be seen in isolation. The whole package has to be viewed holistically, globally, because it doesn't purely comprise cash allowance through enhanced allowance and through an additional allowance or higher allowance, but more importantly medical services as well. Medical voucher will be extended down to the age 65 - 400,000 elderly will benefit – and at the same time we will also be extending the Old Age Living Allowance in Guangdong to Fujian as well. Now, all these have to be taken into account. On top of this, of course, is residential care services and community care services through the voucher scheme again. If you look at the four pillars we talked about, plus of course the final pillar Professor Chan just earlier mentioned – annuity which we'll explore, and also Silver Bond, whether we can provide longer time span and so involve greater volume, plus reverse mortgage. So if you look at the whole thing globally, this is the first time ever after the 1997 handover the Government really looked at the whole thing in a very serious fashion and in a comprehensive manner. Thank you.
(Please also refer to the Chinese portion of the transcript.)
Ends/Thursday, January 19, 2017
Issued at HKT 21:23
Issued at HKT 21:23
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Press conference on retirement protection initiatives in 2017 Policy Address