Issuing Consumption Vouchers
39. Last year, we implemented the consumption voucher scheme for the first time. With the help and concerted efforts of various parties, the scheme was effective in boosting the market sentiment, stimulating local consumption, and speeding up economic recovery. It has also promoted the extensive use of electronic payment. The new wave of epidemic has disrupted the pace of economic recovery. With last year's experience, I will implement a new round of consumption voucher scheme, under which electronic consumption vouchers with a total value of $10,000 will be disbursed by instalment to each eligible Hong Kong permanent resident and new arrival aged 18 or above through suitable stored value facilities. The scheme is expected to benefit about 6.6 million people.
40. I fully understand that this wave of epidemic has seriously affected various sectors and the public. In order to relieve the burden of the people and different merchants, I will make a special arrangement, under which consumption vouchers valued at $5,000 will be disbursed in April to over 6.3 million successful registrants first by making use of the registration data collected through last year's consumption voucher scheme. They will get the remaining vouchers by instalments together with the new eligible persons in the middle of the year. In this regard, the Government will, in moving the Vote on Account Resolution, inform the LegCo that the funding allocation for the consumption voucher scheme may be used upon passage of the Resolution. I hope that the scheme will inject impetus to the market when the epidemic is stabilised so as to accelerate economic recovery, and further encourage the public and merchants to use electronic payment which will promote the development of digital economy.
41. The entire scheme will incur about $66.4 billion of financial commitment. We will announce the details as soon as possible.
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