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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

CS promotes support for DC election

With only 11 days left before the District Council (DC) election, Chief Secretary Chan Kwok-ki and Secretary for the Civil Service Ingrid Yeung today visited the Queensway Government Offices to promote the election to colleagues and urge them to vote with family and friends on December 10.

 

Also joining the visit were representatives from the four civil service central consultative councils and the four major service-wide staff unions.

 

Mr Chan said civil servants are determined to organise a decent DC election and have encouraged colleagues to vote together with friends and relatives, so as to discharge their civic responsibility as well as support and accomodate the Government's governance.

 

“I have visited and talked to colleagues from various government departments in the hope of continuing to widely disseminate the important message of supporting the DC election and voting together among civil servants,” he added.

 

The DC geographical constituencies, information on candidates and voting arrangements for the election are available at the thematic website.

 

The DC geographical constituency ordinary polling stations will be open from 8.30am to 10.30pm on December 10.


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