Wealth Partaking Scheme
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Wealth Partaking Scheme (; pt, Plano de comparticipação pecuniária no desenvolvimento económico) is a cash disbursement policy to holders of a
Macau Resident Identity Card The Macau Resident Identity Card (; pt, Bilhete de Identidade de Residente) or BIR is an official identity card issued by the Identification Services Bureau of Macau. There are two types of Resident Identity Cards: one for permanent resident ...
by the
Macau Special Administrative Region Macau or Macao (; ; ; ), officially the Macao Special Administrative Region of the People's Republic of China (MSAR), is a city and special administrative region of China in the western Pearl River Delta by the South China Sea. With a popu ...
since 2008. The main purpose of the scheme is to share the results of the region's economic development with its people and help mitigate the effects of
inflation In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reductio ...
.


Target beneficiaries

Residents who have a valid or renewable
Macau Resident Identity Card The Macau Resident Identity Card (; pt, Bilhete de Identidade de Residente) or BIR is an official identity card issued by the Identification Services Bureau of Macau. There are two types of Resident Identity Cards: one for permanent resident ...
are the target beneficiaries of the scheme.


Payment methods

Beneficiaries of the Social Welfare Bureau (IAS), which include teachers who receive direct subsidies, students who are subsidized with scholarships or from the Student Welfare Fund by the Education and Youth Affairs Bureau (DESJ), other retired civil service employees, and senior citizens may have their money automatically deposited in a banking account or they can receive a crossed cheque by post.


Details of the scheme

Francis Tam Francis Tam Pak Yuen () (born May 1949) was the incumbent Secretary for Economy and Finance of Macau in 1999–2014. Education Born in Macau, Tam obtained a British Senior diploma in business management, a diploma in Law of China, and a bachelo ...
, the Secretary for Economy and Finance, announced the Wealth Partaking Scheme at the
Macau Government Headquarters The Macau Government Headquarters (; pt, Sede do Governo da Região Administrativa Especial de Macau da República Popular da China), formerly Governor's Palace ( pt, Palácio do Governador) is the official office of the Chief Executive of Maca ...
on May 23, 2008. He said that for the initial run of the scheme, holders of permanent and non-permanent
Macau Resident Identity Card The Macau Resident Identity Card (; pt, Bilhete de Identidade de Residente) or BIR is an official identity card issued by the Identification Services Bureau of Macau. There are two types of Resident Identity Cards: one for permanent resident ...
s could receive 5,000 and 3,000 patacas respectively. More than 11,000 people who qualified for Macau Resident Identity Card applied for one after the scheme was announced, hoping to receive money. This is 10 times more than the normal number of applications. In his policy address on November 11, 2008,
Chief Executive of Macau The Chief Executive of the Macao Special Administrative Region (; pt, Chefe do Executivo da Região Administrativa Especial de Macau) is the head of government of Macau, a special administrative region of China. The position replaced the o ...
Edmund Ho Edmund Ho Hau-wah, GOIH, GML, GCM (born 13 March 1955) is a Macau politician who served as the first Chief Executive of the Macau Special Administrative Region from 1999 to 2009. He currently serves as a Vice-Chairman of the Chinese People ...
announced that the region would have another wealth sharing scheme in the next fiscal year (2009) to help offset the negative economic influence of the
Financial crisis of 2007–08 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...
. This time, permanent and non-permanent residents would receive 6,000 and 3,600 patacas as announced by Edmund Ho during the question and answer session in the
Legislative Assembly of Macau The Legislative Assembly of the Macau Special Administrative Region (; ) is the organ of the legislative branch of Macau. It is a 33-member body comprising 14 directly elected members, 12 indirectly elected members representing functional con ...
on April 16, 2009. Every year since, the scheme has been a regular part of the Policy Address. In his policy address on November 16, 2010,
Chief Executive of Macau The Chief Executive of the Macao Special Administrative Region (; pt, Chefe do Executivo da Região Administrativa Especial de Macau) is the head of government of Macau, a special administrative region of China. The position replaced the o ...
Fernando Chui Fernando Chui Sai-on (; born 13 January 1957) is a Macau politician who served as the 2nd Chief Executive of Macau from 2009 to 2019. He served as Secretary for Social and Cultural Affairs from 1999 to 2009. Chui was born in 1957 to local c ...
announced a substantial decrease for the scheme to 4,000 and 2,400 patacas for permanent and non-permanent residents respectively. The next year on April 21, 2011, Chui announced that "Cash Subsidy" ( pt, Apoio Pecuniário, ) would be 3,000 and 1,800 patacas to permanent and non-permanent residents respectively for that fiscal year. Despite this reduction, the total subsidy distribution in fiscal year 2011 was more than the previous fiscal year and it was the fiscal year to have cash subsidy policy only.


Subsidy amount by year


Supporting department

The Government of Macau set up the "Support Centre for Wealth Disbursement" ( pt, Centro de apoio ao pagamento da comparticipação pecuniária, ) in Largo Tap Seac on July 1, 2008 to disburse the payments and provide related services for the scheme. As the cheque from the scheme for each fiscal year is valid for 3 years, the Service Center of the Civic and Municipal Affairs Bureau (IACM) has acted on behalf of the Wealth Partaking Payment Assistance Center which located in 2/F, Edifício China Plaza,
Avenida da Praia Grande Avenue or Avenues may refer to: Roads * Avenue (landscape), traditionally a straight path or road with a line of trees, in the shifted sense a tree line itself, or some of boulevards (also without trees) * Avenue Road, Bangalore * Avenue Road, Lon ...
since November 3, 2008.


See also

*
Basic income Universal basic income (UBI) is a social welfare proposal in which all citizens of a given population regularly receive an unconditional transfer payment, that is, without a means test or need to work. It would be received independently of a ...
, unconditional government cash payments to the public *
Scheme $6,000 Scheme $6,000 () is a 2011 Hong Kong Government tax rebate program that gave out HK$6,000 to all adult holders of a Hong Kong permanent identity card, in a bid to "藏富於民" (Leave wealth with the people). Background After seven consecuti ...
, a similar scheme by the
Hong Kong Government The Government of the Hong Kong Special Administrative Region, commonly known as the Hong Kong Government or HKSAR Government, refers to the Executive (government), executive authorities of Hong Kong Special administrative regions of China, ...
*
Social dividend The social dividend is the return on the capital assets and natural resources Social ownership, owned by society in a socialist economy. The concept notably appears as a key characteristic of market socialism, where it takes the form of a dividen ...
, unconditional cash payment to the public derived from assets under public ownership


References

* {{cite web, url=http://images.io.gov.mo/bo/i/2008/23/rega-12-2008.pdf , title= Regulamento Administrativo n.º 12/2008 , publisher= Government Printing Bureau , date=2008-06-09 , accessdate=2013-11-16 , language = pt


External links


Official website for the Wealth Partaking Scheme
2008 in Macau Politics of Macau Economy of Macau Taxation and redistribution