Budget 2021 debate: Cheryl Chan on helping seniors who are asset rich but cash poor

In Parliament on Thursday (Feb 25), MP Cheryl Chan urged the Government to re-think the use of annual property value as a criterion if people applying for its benefit schemes fulfilled all other criteria. Alternatively, it could reconsider the need for annual property value under means testing in times of crisis, for example, the COVID-19 pandemic, she said. Highlighting the plight of the elderly who are asset rich but cash poor, she also suggested providing utilities and transport vouchers for this group as most are no longer working or have no private transportation means.