Macao's Chief Executive Edmund Ho yesterday vowed to put economic
development and improving people's livelihoods high on the
government agenda.
During his annual address he told members of the Legislative
Assembly that the government will also step up efforts to crack
down on illegal labor and corruption.
"In the coming year, the government will continue to implement
various measures for the benefit of the people, further propel
economic development and create a prosperous society in conjunction
with all quarters of society," he said.
A tax concession package worth more than 1.1 billion patacas
(US$137 million) was also announced yesterday, as Macao's economy
has seen huge growth over the past year.
Ho said he was happy with the continued economic growth and also
that unemployment had fallen to 3.1 percent.
He said the convention and exhibitions sector had made good
progress, tax income was satisfactory and the overall business
environment had remained stable.
In addition, people's median wage had risen 36 percent on 2006,
and bank deposits had doubled over the period.
He announced a 25 percent reduction in personal tax and an
increase of the personal tax allowance from 95,000 patacas to
110,000 patacas.
On housing, he said all non-rental units will be exempt from
housing tax, while rental units will enjoy a 50 percent tax
reduction.
He said the housing problem was a priority for the government
and vowed it will build 19,000 public housing units by the end of
2012.
To encourage first-time house buyers, Ho said they will be
exempt from paying stamp duty on the first 3 million patacas of the
property's value.
Addressing one of the past year's major public concerns, Ho
pledged to beef up efforts to combat illegal labor and better
protect local workers.
On the government's anti-corruption drive, the chief executive
said: "The Commission Against Corruption of Macao will do its best
... to investigate major graft cases and attack corruption in order
to ensure a clean government."
He added that the authorities will also broaden the powers of
the graft-busters.
"Once we have evidence of corruption, those involved will be
punished using the full power of the law, regardless of his rank,"
he said.
He said the government will also seek to amend the law to extend
the scope of control to the private sector.
Although Ho did not mention the case directly, the former
secretary for transport and public works, Ao Man-long, is on trial
in the biggest corruption case in Macao's history.
(China Daily November 14, 2007)
