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"This provides for the entry of a limited number of imported workers, which will further reduce the income available from the levy. I propose to inject another $300 million into the Board's reserves to ensure that it has the financial resources to expand its programmes," Mr Tsang said.
But retraining is only part of the solution.
"When people have skills to offer which the market needs, workers have to be put in touch with potential employers.
We have now
"This is why our Job Matching Programme is so crucial. extended the scope of this scheme to cover all job-seekers. Its success rate has been increasing steadily, and has now reached 71 per cent," he added.
End
CSSA review completed
The Government has completed a review of the Comprehensive Social Security Assistance (CSSA) Scheme and identified areas for further improvements.
The Financial Secretary, Mr Donald Tsang, in his first Budget Speech to the Legislative Council today (Wednesday), gave a brief summary of the main benefits the Government would provide, including the additional improvements to the CSSA Scheme which would cost an extra $200 million a year on top of the amount pledged by the Governor:
For adults not expected to work (for example, those in ill-health, single parents and family carers), taking into account the increases announced by the Governor the current monthly standard rate will be increased by $600. This will be adjusted for inflation, as approved by members. As a result, the new rate will be $1,935 a month for a single person and $1,760 for a family member from 1 April. These new rates represent real increases of between 50 per cent and 57 per cent.
For adults expected to work but currently without jobs, taking into account the increase announced by the Governor the current monthly standard rate will be increased by $300. Together with the inflation adjustment approved by Members, the new rate will be $1.615 a month for a single person and $1.440 for a family member from 1 April. These new rates represent real increases of between 25 per cent and 29 per
cent.
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