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Hon LEUNG Kwok-hung
Legislative Council Member
Constituency : * Geographical Constituency - New Territories East
Political affiliation : * April Fifth Action
* League of Social Democrats
Homepage : http://www.longhair.hk
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http://www.legco.gov.hk/yr08-09/english/counmtg/agenda/cm20090218.htm
Legislative Council
Wednesday 18 February 2009 at 11:00 am
IV. Members' Motion
Helping young people cope with the financial tsunami

Hon Tanya CHAN: (Translation)

That, being struck by the financial tsunami, Hong Kong's economy will most probably slacken off substantially and young people will definitely face pressure from various fronts, including the financial burden arising from repaying student loans and the employment difficulties caused by reduction in jobs etc; this Council urges the Government to show concern for the needs of young people amid economic adversities and offer suitable support to help them alleviate their pressure, develop their career and contribute to the society, with specific measures which include:

(a) removing the existing 1.5% risk rate for the "Non-means Tested Loan Scheme" and making changes to the effect that the interest will be calculated after a student has completed the relevant programme;

(b) suspending the collection of repayments from all borrowers of student loan schemes for one year and waiving the interests on all loans for that year;

(c) providing young people with more employment counselling and support, especially by increasing the resources allocated to the environmental protection and creative industries, with a view to helping them find suitable jobs;

(d) creating temporary jobs and placements which are suitable for young people, including those in the fields of environmental conservation, survey studies, community relations, publicity and promotion etc, to give them opportunities to accumulate working experience;

(e) exploring various forms of support, including appropriate training, counselling services, subsidies or loan arrangements, for young people who aspire to start a business or become self-employed; and

(f) expeditiously implementing the recommendations of the Task Force on Economic Challenges which target at young people's needs and putting forward specific work plans as well as announcing the details.

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