Raising the living standards of Macao residents is top of the Government's agenda in the coming year, according to the Chief Executive Mr Chui Sai On in his third annual Policy Address presented to lawmakers this afternoon. Mr Chui unveiled a string of measures to fight rising inflation in his 2012 Policy Address, including a further injection of 6,000 patacas into the individual central savings account of each eligible Macao citizen and a cash handout of 7,000 patacas to all Macao permanent residents. Non-permanent residents would get 4,200 patacas. The Government will also look at the feasibility of injecting money into the Social Security Fund. For senior citizens, the Old-age Allowance will be increased to 6,000 patacas while the monthly pension will be raised to 2,000 patacas. This means that in the coming year, each senior citizen will receive a total of 45,000 patacas from the Government. The Government will draw up a population policy based on detailed studies to tackle Macao's aging population, said the Chief Executive. Past initiatives to help low-income families, such as rent waiver for public housing tenants and housing subsidies for families waiting for public housing, would continue in 2012. Meanwhile the minimum subsistence index and the financial allowance for low-income, full-time employees will be raised to 3,200 patacas and 4,400 patacas respectively. Business owners and employees will continue to enjoy tax cuts and waivers outlined in the previous policy address. To further support small businesses, the upper loan limit of the SME Assistance Scheme will be increased to 600,000 patacas. On the "Homes for All" policy, the Chief Executive promised to relax the income ceiling of Home-Ownership Scheme Housing applicants, which would make 80 percent of Macao households qualify for the scheme. He also told lawmakers that the Government would plan a reserve of 6,300 public housing units in addition to the 19,000 public housing units to be completed by the end of 2012. Mr Chui addressed the issue of sustainable economic development by pledging to facilitate the growth of integrated tourism and boost regional co-operation. An assessment committee for Macao investments in Hengqin Island will be set up to help Macao enterprises establish operations in the Guangdong-Macao Industrial Park. Reviewing Macao's political development will be another major task of the government in 2012, he said. The Government will launch a public consultation next year on whether to modify and – if so how to modify – the method for the formation of the fifth Legislative Assembly in 2013, and the selection of the fourth Chief Executive in 2014, in accordance with the Basic Law of Macao. Mr Chui added that electoral laws would be perfected to promote fairness and justice in all elections, to drive development of Macao's political system.
