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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

CSB volunteer team promotes poll

The Civil Service Bureau (CSB) Volunteer Team today distributed leaflets to civil servants outside the Central Government Offices (CGO) in Tamar to remind them to vote in the District Council (DC) election on December 10.

 

Led by Secretary for the Civil Service Ingrid Yeung, staff members from the Administrative Officer and Executive Officer grades, and other grades, met colleagues on the walkways and footbridge outside the CGO as they left work in the evening.

 

Mrs Yeung stressed that the DC election scheduled for December 10 is the first to be held following improvements to the district governance system and the reform of district councils.

 

“We all earnestly hope that the new DCs (can) make district services more targeted and bring stability and development to Hong Kong,” she said. “Civil servants, like members of the general public, should actively participate in it.”

 

Mrs Yeung added that this was the first time that the CSB had joined hands with the four central civil service consultative councils to promote the importance of the election to civil servants.

 

She said the CSB Volunteer Team hopes to encourage colleagues to grasp the opportunity to elect DC members who can do real work to benefit the districts. It will continue its promotional efforts at other government buildings.


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