Although gaming revenues in Macau have fallen more than 35 percent in the past year, Chief Executive Fernando Chui Sai-on has proposed a handout of 9,000 patacas (US$1,127) in cash to each permanent resident of Macau.
Chui included the proposal in his latest policy address, Sing Tao Daily reported Wednesday.
This is the ninth year in a row residents are getting the budget sweetener.
Non-permanent residents living in Macau will receive a cash handout of 5,400 patacas each.
Residents will have a further 7,000 patacas injected into their Macau Pension Fund accounts.
On top of the cash handouts, every permanent resident will continue to receive healthcare voucher amounting to 600 patacas, and each household will receive an electricity subsidy of 200 patacas a month.
The annual subsidy for senior citizens will be increased by 500 patacas to 8,000 patacas, while the monthly old age allowance will be raised to 3,350 patacas.
The Macau government expects the subsidies and cash handouts to total 11.7 billion patacas.
At the same time, Chui announced tax rebates and other initiatives that will cost the government 2.4 billion patacas in revenue.
Employees and workers will receive tax rebates of up to 12,000 patacas.
Civil servants in Macau will have their salaries raised by nearly 3 percent next year.
Chui expects gaming revenues in the city to continue to decline for some time, but he said the trend won’t have much impact on the people’s livelihood.
The government will kick off a middle-term review of the gaming industry, aimed at reducing unemployment caused by the industry’s downturn, Chui said.
Meanwhile, the city is planning to develop large-scale tourism projects and is encouraging the casino industry to expand into leisure tourism as a way to increase the city’s competitiveness.
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