How Did EY Propose Helping Low Earners via MPF Injection?

What relief did EY propose in 2011?

In February 2011, EY proposed setting aside HK$17 billion for low-income earners, with HK$8.5 billion as a one-off HK$6,000 injection into the MPF accounts of workers earning under HK$10,000 a month. With treasury revenue far exceeding expectations, EY raised its full-year surplus forecast from HK$70 billion to HK$80 billion, arguing the windfall gave the government room to relieve hardship.

Why target low earners?

EY’s managing partner said government relief often missed the “three-nils” — no public housing, no tax paid, no CSSA received. A targeted MPF injection would help them fight inflation. Once credited, workers should pick funds suiting their risk appetite at MPF fund comparison.

What about the other HK$8.5 billion?

It would fund immediate cash assistance. The broader package also included public-housing rent waivers, rates waivers, electricity subsidies and higher dependent-parent tax allowances.