Transcript of remarks by SLW on progressive abolition of "offsetting" arrangement under MPF System
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Reporter: Is the Government willing to bear the responsibilities in terms of cancelling the MPF offsetting mechanism system? Do you still think that the Government is willing to spend more than $7.9 billion on that? And when will the new plan come out?
Secretary for Labour and Welfare: The Chief Executive and the Chief Secretary (for Administration) had already made it very clear that the present administration is ready to spend a bit more than the previous administration has planned to do, which is $7.9 billion. How much is not certain yet, we still have to work out the details before we can make a more precise estimation of the commitment of the Government, but definitely it would not be less than $7.9 billion.
(Please also refer to the Chinese portion of the transcript.)
Ends/Saturday, July 22, 2017
Issued at HKT 13:55
Issued at HKT 13:55
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