Chui keeps cash handouts flowing in play-it-safe address
As governments around the world consider how to roll back stimulus measures, Macau Chief Executive Fernando Chui Sai-on yesterday announced cash bonuses totalling three billion patacas for residents in his first policy address.
Chui, 53, extended many of the policies outlined by his predecessor, Edmund Ho Hau-wah. These included the construction of public housing flats, limiting excessive casino growth and studying the licensing of card dealers.
'The cash-sharing scheme, backed by the government's fiscal surplus, helps people share the fruits of economic growth,' Chui, who became Macau's top leader in December, said after the policy address. 'A surplus of 23.8 billion patacas for the last fiscal year makes it possible for us to continue to dole out cash.'
He announced a continuation of Ho's cash bonus scheme, with 6,000 patacas given to each permanent resident and 3,600 patacas for each non-permanent resident. He also repeated Ho's policy of giving each permanent resident medical vouchers worth 500 patacas.
In November, when Ho delivered his last policy address, he announced a 3.3 billion-pataca injection into residents' accounts under the central provident fund system. Some 330,000 residents over the age of 22 received 10,000 patacas in their accounts in January.
Chui said his government may continue to pump cash from its surpluses into residents' central provident accounts in the future.
'We will, unwaveringly, insist on the 'people-first principle', improve people's living standards and listen to their opinions,' Chui pledged.
The cash bonus scheme, launched by Ho in 2008, is seen as necessary to appease residents embittered by their inability to benefit from the casino boom. The scheme left some Hong Kong residents envious and sparked a rush of Hongkongers applying for Macau residency.
Casinos will be banned from some 350 hectares of land being reclaimed in a scheme approved by Beijing in November, Chui said. He said his government would complete planning for the development on the five reclaimed sites this year.
At least 50 per cent of the reclaimed land would be used for public facilities, green space, squares, transport and infrastructure.
Shun Tak Holdings, the property developer controlled by casino billionaire Stanley Ho Hung-sun, wants to develop a 4.3 million sq ft residential and commercial complex on part of the reclaimed land.
Chui said his government was mulling over licensing card dealers and senior managers in casinos. It would also continue to 'strictly control' the number of casinos, gaming tables and slot machines.
He pledged to bring in a law banning slot machines from local residential areas, without giving any timetable. Ho's government announced a similar plan in 2007 but it has not materialised.
Chui also said his government would raise the age limit for entering casinos to 21 from 18 for both gamblers and casino workers, without giving any timetable. Ho again made the same pledge in 2007 but did not deliver on it.
Legislator Au Kam-san said the local press seldom followed up on government pledges, allowing officials to make grand promises without keeping to them. 'The government can make easy promises and delay its plans year after year,' Au said.
Macau is considering cracking down on the hoarding of land by seizing sites that have remained undeveloped for a long time, Chui said.
Political commentator Professor Larry So Man-yum of Macau Polytechnic Institute said the policy address reflected Chui's cautious style.
'This is a play-it-safe policy address with no surprises,' So said. 'Chui carefully follows in the footsteps of his predecessor.'
Chui also pledged to boost ties with Taiwan. Tam Chon-weng, director of Chui's office, will head a new team to promote trade and cultural exchange with Taiwan. Chui said his government may set up an office in Taiwan.
The leader also pledged to complete the construction of 19,000 public housing flats by 2012.
Macau would waive all stamp duty on entrance tickets for expos and shows this year, Chui said.
Elderly residents in the city will continue to get a subsidy of 5,000 patacas, he said.
Macau's gross domestic product rose annually by 8.2 per cent in the third quarter of last year.
Casino revenue surged 9.7 per cent last year from that in 2008 to a record 119.4 billion patacas.
At a glance
Key points of Fernando Chui's first policy address: Cash sharing: 6,000 patacas for each permanent resident and 3,600 patacas for each non-permanent resident
Medical voucher worth 500 patacas for each permanent resident
Casinos will be banned from some 350 hectares of land being reclaimed in a scheme approved by Beijing
Continue to pump cash into residents' central provident accounts in the future
Plans for a law banning slot machines from local residential areas
Government plans licensing card dealers and senior managers in casinos
Plans to raise the age limit for people entering casinos to 21 from 18 for both gamblers and those working in casinos
Complete the construction of 19,000 public housing flats by 2012.
Boost ties with Taiwan
Government studies how to crack down on the hoarding of land
