Macau's Wealth Partaking Scheme

in #ubi4 years ago

I have written on other platforms a lot about basic income, but I am here to tell you about a form of basic income that can be found if you reside in Macau, one of the semi-autonomous regions of China that is given so much autonomy that it is practically its own country. Since the year 2008, there is a form of Basic Income that has existed in Macau that is known as the Wealth Partaking Scheme, which is 現金分享計劃 in Chinese and Plano de comparticipação pecuniária no desenvolvimento económico in Portuguese. This policy is available to permanent and non-permanent residents of Macau. It is a cash imbursement style of basic income that can provide for the citizens of the region. Now, the point of this particular government program is to protect citizens from the effects of inflation and to share the benefits that come from economic development with the people. Recipients of the scheme are paid using the currency Macanese pataca, the native currency of Macau alongside the the Hong Kong Dollar (and 1 Macanese pataca is worth about 0.97 Hong Kong Dollars). When it was first run, five thousand pataca were given to permanent residents while three thousand pataca were given to three thousand pataca. Even at its lowest, the program gave one thousand eight hundred pataca to non-permanent residents of Macau and three thousand pataca to permanent residents. At its highest, six thousand pataca went to non-permanent residents and ten thousand pataca (or about $1,245 US Dollars) went to permanent residents of Macau. Macau has not stopped the program in 2021 due to the pandemic as described by asgam.com here: https://www.asgam.com/index.php/2021/04/12/macau-government-to-expedite-wealth-partaking-scheme-in-2021/. This helps to alleviate problems for the average citizen during the pandemic since jobs are somewhat down and the entertainment/tourism industry Macau is earning less, making it harder for the average citizen to be employed and afford a living. This form of basic income has even been praised by writers on basicincome.org (a website by people who support universal basic income for people all over): https://basicincome.org/news/2017/07/wealth-partaking-scheme-macaus-small-ubi/. Like other forms of basic income I described, the scheme is actually helping Macau and not turning the region into a welfare state. Implementing a similar for of basic income in other parts of the world under the right circumstances could help alleviate poverty and allow people the extra money they need to make ends meet/start their business, reducing human suffering and the exploitation of common people.

General residents get the payment from this form of basic income through a check, but other residents (students, teachers, senior citizens) can get their payments from direct deposit.

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Hello, @dia0

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