Skip to main content

Featured

FS outlines fiscal consolidation plan

In the 2024-25 Budget announced today, Financial Secretary Paul Chan proposed a number of measures to increase revenue and outlined a fiscal consolidation programme which aims to restore fiscal balance in a few years’ time.   Mr Chan said even though the Government strived to reduce expenditure as the COVID-19 pandemic had subsided, the total expenditure for 2023-24 reached $727.9 billion, representing an increase of 36.9% compared with 2018-19, of which operating expenditure rose substantially by 40.2% whereas operating revenue increased only 13.1%.   On capital works, owing to the fact that the Government has been pressing ahead with land and housing supply projects, along with other infrastructure works for improving the environment and people’s livelihood, the average annual expenditure has increased from about $76 billion over the past five years to about $85 billion in 2023-24.   Fiscal reserves have dropped to the current level of $733.2 billion.   Fiscal consoli

CE inspects control point

Chief Executive John Lee visited the Lok Ma Chau Spur Line (Futian) Control Point today, the first day of the resumption of normal travel between Hong Kong and the Mainland, to view the arrangements for people crossing the boundary.   Mr Lee was briefed on the arrangements and spoke to members of the public during the visit, and said he was satisfied with the smooth operation on the resumption of normal travel.   Noting that all the relevant boundary control points were operating well and people could travel across the boundary smoothly, he noted that the travel resumption must proceed in an orderly and safe manner.   Mr Lee added that the relevant authorities will closely monitor the situation, including the arrangements before and after the Lunar New Year holidays, to come up with a plan for realising the full resumption of normal travel between Hong Kong and the Mainland in a secure and manageable way.
http://dlvr.it/Sgb8Pk

Popular Posts