Macau government to expedite Wealth Partaking Scheme in 2021

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The Macau SAR Government has brought forward its Wealth Partaking Scheme in 2021, with the scheme to be implemented from this month due to the impacts of the COVID-19 pandemic on the economy and livelihoods.

According to a Sunday announcement, provision of the annual cash disbursement, which usually takes place from July, will not be stopped or slowed by the pandemic with the government stating that existing basic beneficial measures for the public would be continuously implemented.

Under the scheme, permanent residents are entitled to a MOP$10,000 (US$1,250) cash payment and non-permanent residents MOP$6,000 (US$750). More than 600,000 people will be eligible to receive the handout.

Launched in 2008, Macaus Wealth Partaking Scheme is designed to share the SARs economic prosperity a result of its booming casino industry with its citizens. The handout amount has also doubled since 2008, when eligible residents received MOP$5,000 and MOP$3,000 each.

The Macau government reported tax revenues from the gaming industry of MOP$29.81 billion (US$3.72 billion) in 2020, down from MOP$112.71 billion (US$14.08 billion) in 2019.