Editorial:Boosting consumption after cash handouts
文章日期:2020年6月10日

【明報專訊】THE government's universal cash handout of $10,000 is set to be open for registration in late June. Citizens will be able to receive the payment on the 8th of next month at the earliest. It was early this year, when the COVID-19 outbreak dealt a heavy blow to the economy, that the government decided to issue a generous handout to boost consumption and stimulate the economy when the pandemic eases. When it comes to the pandemic, things are still looking grim outside Hong Kong, while our city is not totally free from malaise. Restrictions that have been imposed due to the pandemic will inevitably affect the pace of economic revival. That said, even though the authorities are to spend $70 billion of public funds on the cash handout, they should make every effort to maximise the economic effect of the measure. The government should take the initiative to collaborate with members of the industries concerned on stimulating the economy and revitalising consumption. The effect of the measure will certainly be greatly reduced if everyone works on one's own without any coordination. The government should come up with a comprehensive plan for reviving the economy that accompanies the cash handout to create momentum. It should not just go through the motions by launching run-of-the-mill initiatives to ''promote consumption''.

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