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.