Old Age Living Allowance

In the few months, the old come along biography stipend is a real hot issue. The government mentioned a pith- foot race dodge is needed for the HKD $2200 old climb on reenforcement allowance, and the government entrust non raise the rundown limit for the beneficiaries. This is a very controversial issue since many a(prenominal) stakeholders have different opinions. Im going to base my stance on this issue. I agree that a means test should be apply to the old come on life history allowance. Firstly, for the government, without a means-test, resources will be unequally distributed, it will as well as crowd out otherwise government spending, including on wellbeing such as countrywide Social Security tending intrigue, Community Care Fund, live Intensive Transport attend scheme. This is unfair to the others in the nightspot. The resources tail assembly be at present given to those in real fiscal needs with a means test. For the financially capable elderly, although their asset may not be enough to meet the staple fibre living in long term, its more classic and emergent to help the elderly who are facing s stubtness at the moment. They still have HKD $1090 old age allowance. In open to take a balance, a means test is needed.

Besides, without a means test, all the elderly in the society can get the old age living allowance, this gives a strained burden to the government. The government needs a tie of money, therefore the money will be transferred to the tax throwers. They have to turn over more tax to the government, which will serio usly run their economical quality for lif! e. Meanwhile, Hong Kongs economy will be affect too since peoples purchasing power has decreased. In conclusion, means test should be applied to old age living allowance. In the future, the government should start considering the Universial Pension plan which will be a long term aid scheme to the elderly.If you want to get a full essay, edict it on our website: OrderCustomPaper.com

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