The Administration Wing has disclosed that, as of March 15 this year, a total of 10,271 eligible applications have been received for the HK$20,000 newborn baby bonus program, with 9,677 applicants having already received the bonus.
In response to queries from lawmakers on Monday, the Administration Wing conveyed that the bonus scheme, initiated on October 25 last year, has been operational for less than five months. They emphasized the necessity of further observation before undertaking a review to determine future actions.
Regarding inquiries about potential additional policy measures to incentivize family expansion, the office outlined existing initiatives. These include elevating the accommodation-related tax deduction ceiling, prioritizing subsidized sale flats and public rental housing allocation, and augmenting childcare center capacity and allowances.
Highlighting a significant financial commitment, the office noted that the SAR government has allocated a substantial non-recurrent commitment of HK$2,286 million for the newborn baby bonus program. This move is underscored as a policy breakthrough.
In light of fiscal constraints, the government emphasized the need for prudence in contemplating further financial assistance. Any additional measures must undergo rigorous evaluation to ensure they strike a balance between promoting childbirth and maintaining fiscal stability, especially given the current high fiscal deficit.
