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HK to give $30k for second child and beyond

rthk.hk · 8h · first reportShare

Chief Executive John Lee on Wednesday announced that families would receive HK30,000 for every baby after their first, aimed at encouraging people to have more than one child. Delivering his Policy Address, Lee also said an existing HK$20,000 reward for a new baby, due to expire next month, would continue for another three years. "The current term government has shifted from a non-interventionist approach to actively promoting fertility, working to create a conducive environment for childbearing," he said The CE also announced other measures to encourage childbirth. He said families with more than one child would see the tax allowance for the second child and beyond rise from HK$140,000 to HK$160,000. He added that if they buy a home within one year before the baby is born or two years after, they can get a 20,000 dollar deduction on stamp duty. He said if they buy a flat under the government's Home Ownership Scheme, the maximum loan-to-value ratio would be raised to 95 percent — meani