In May, the streets of Macao are bustling with people. However, this time, in addition to the hustle and bustle of the gaming tables, what has attracted the public's attention is an exciting welfare measure in Macau - a "free cash" for everyone!
According to the official announcement, the Macao SAR will issue a cash subsidy of up to 10,000 Australian dollars to permanent residents and non-permanent residents in July this year. As soon as this news came out, the whole city was boiling, and countless citizens were ready to move, planning to "join in" as soon as possible to get a piece of the pie.
This "free gift" cash is not a simple handout, but a substantial favorable policy launched by Macao in order to stimulate economic development and benefit people's livelihood. It is expected that 748,000 people will benefit, which fully reflects the determination of the SAR government to dare to do things for the people and share the dividends of development in a big way.
In today's world, which is full of disparities between the rich and the poor, Macao has given a model of enriching people's livelihood and sharing development, which is worthy of reference and learning from more regions and countries.
The policy of benefiting the people is inexhaustible
In fact, the practice of issuing cash subsidies to the Macao SAR this time has already had a deep "soil".
As a small but wealthy city, Macao has always been generous in terms of fiscal revenues and expenditures. According to official figures, in 2022 alone, the SAR's fiscal surplus reached A$58 billion, and in 2023, the investment income from the SAR's fiscal reserves reached 28.9 billion yuan.
This is mainly due to the SAR's high-quality tourism resources, sound management of the gaming industry, high tax revenues, and efficient and streamlined departmental operations. Therefore, Macao "feeds back" part of its wealth to the citizens, and there is no financial burden on the cost.
Macao's highly benevolent approach naturally provides a sufficient basis for public opinion for this policy of benefiting the people. For a long time, Macao residents have generally supported the feedback policy and believed that resources should be distributed fairly. Especially during the new crown epidemic, the relevant departments have issued huge subsidies on many occasions, which has strengthened the confidence of citizens.
Such a favorable situation has accelerated the implementation of the cash subsidy policy, and is expected to bring a significant role in stimulating people's livelihood.
After all, for most families, a cash subsidy of 10,000 yuan can really be called a "big gift". Assuming that a typical family structure is 2 old, 2 strong and 2 young, then a one-time income of 60,000 yuan will be obtained. In the short term, it will definitely greatly improve household expenses and stimulate consumer demand.
In addition to the direct consumption boost, the abundant cash income is also expected to drive the overall willingness to spend on social spending. People may increase their daily living expenses, make some larger investment expenditures, etc. This will inject a "booster" into the development of regional productivity and modern service industries.
Some analysts believe that Macao's use of cash subsidies to stimulate domestic demand this time is more effective and targeted, and has more advantages than simply increasing investment and subsidies. Of course, there are also concerns that large cash subsidies may have contributed to inflationary pressures. But overall, there is still a consensus that the benefits outweigh the disadvantages.
Of course, the success of the cash subsidy policy is also inseparable from the understanding and support of the public. When the cash subsidy scheme was first announced, it caused a lot of heated discussions.
Some people have suggested that cash subsidies should be given to "everyone is equal to nothing", and it is better to focus on the less wealthy groups and benefit them in a more targeted manner. However, many people pointed out that due to the overall affluence of the Macao region, it has become difficult for the SAR government to define the low-income group. In addition, the "inclusive" subsidy is also more equitable and in line with the principle of equality.
It is worth mentioning that in addition to permanent residents, the target of this subsidy also includes a considerable number of non-permanent residents. This approach is considered to take care of the interests of a large number of migrant workers, reflecting Macau's good vision of "both internal and external".
Although survival is never-ending, development should have a way back. From this point of view, Macao is a good way to directly share the benefits of economic development in the near future and maintain social fairness and justice through cash subsidies.
It is not difficult to see that both the direct benefits generated by the subsidies and the indirect well-being of people's livelihood have made the residents of this small city feel unprecedented comfort and wealth.
A happy life comes from a pragmatic style
On the other hand, other wealthy regions, whether it is the mainland, Hong Kong or Taiwan, may not be able to see such an eye-catching "free payment" grand occasion.
For example, Hong Kong also provides regular financial assistance to every elderly person and person with disabilities, but it requires more effort to identify and manage. For other groups, Hong Kong is more inclined to adopt indirect measures such as tax cuts, and rarely benefits the entire population in the form of cash.
In Taiwan, the social security system is relatively sound, and in addition to medical and pension discounts, there are occasional cash allowances for specific groups. However, it is extremely rare for all residents or non-permanent residents to meet a certain number of years.
This is different from Macao's social reality and management philosophy. As a special administrative region, Macao can give full play to its high degree of autonomy and formulate policies that benefit the people without any worries. At the same time, it does not need to bear the heavy management costs like administrative agencies, and it is easier to achieve "small but beautiful" fine management.
Of course, this kind of "rich and capricious" is also due to the steady increase in Macao's economic income in recent years. But even so, the government's determination and courage to benefit people's livelihood and fully share the dividends of development are still worthy of recognition.
It is no wonder that in this environment, the people of Macao generally feel the people-oriented, pragmatic and efficient governance style, and then have enthusiastic expectations and support for the cash subsidy policy. In fact, this also enlightens other regions that appropriately improving the transparency of welfare policies and improving the efficiency of implementation may also win the hearts and minds of the people.