MPF rule changes will hit some businesses hard, say owners. Photo: RTHK
The business community is stepping up its rhetoric against a proposal to take away the right of employers to use part of their Mandatory Provident Fund contributions to offset severance payments.
Some reports have said the Chief Executive, CY Leung, is thinking about scrapping the so-called MPF offsetting mechanism in his upcoming Policy Address.
The Hong Kong Business Community Joint Conference, whose members come from over 60 industries, warned that such a move would have a profound impact on small and medium sized enterprises and could force some businesses to close.
A convenor of the group, Chan Kei-biu, criticised the government for mixing up poverty alleviation with labour issues.
http://news.rthk.hk/rthk/en/component/k2/1226757-20151130.htm
