HK$25bn relief package 'too little, too late'

HK$25bn relief package 'too little, too late'

The Business and Professionals Alliance has criticised a HK$25 billion relief coronavirus relief package put forward by the government on Friday as "too little, too late".



Chief Executive Carrie Lam's proposals include extra subsidies for poor households and students, as well as cash for industries such as tourism and catering. Lawmakers will discuss them at a special session on Wednesday.



However the alliance, which is part of the Beijing-loyalist camp, said many other industries were also struggling. Its chairman, Lo Wai-kwok, said the engineering sector, which he represents in the Legislative Council, was among those affected.



"Of course, the HK$25 billion plan will be able to support some business sectors," he said. "But there are other business sectors which are seriously affected by the virus.



"So the alliance appeals to the government; they really have to work on a wider support plan, and also action has to be fast."



Meanwhile the head of the Hong Kong Retail Management Association, Annie Yau Tse, said a proposed HK$80,000 subsidy as part of the package would be enough to help small shops and medium-sized business, but would mean little to large retailers and chains.



"For some small to medium-sized retailers we believe it will be a good help," she said. "But for some big chains or bigger-scale retailers it is still welcome, but the thing is it will not be able to turn around the situation.



"It's important for us to make good use of the subsidy, to make the most meaningful result out of it."



Under the package, around 200,000 low-income families will get a one-off grant of around HK$5,000 per household, while student subsidies will rise from HK$2,500 to HK$3,500.



So far 56 people in Hong Kong have been diagnosed with Covid. More than 60,000 people on the mainland have fallen ill.