31 Dec 2010

Category    Social Welfare
Issue Community Care Fund
News Content The Community Care Fund held its first executive committee meeting yesterday. Several recommendations were made. They suggested allocating HK500 million in the first year for groups to apply on a project basis. Individual applications will not be accepted. And they also suggested the Hong Kong Monetary Authority to manage the HK$10 billion Fund to save management fees demanded by private fund mangers. It was reported that details of the fund will be made after discussions among the sub-committees and two public consultation sessions next month.
Questions The government is yet to reveal how much money has been collected from the business sector. The government plans to contribute HK$5billion to the fund and raise another HK$5billion from business sector. It has been rightly said by the legislative Council’s social welfare representative Peter Cheung that the fund should not be a long-term social welfare policy. The government should find ways to improve the current system.