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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

Cleanliness plea for festive season

The Leisure & Cultural Services Department today appealed to people to keep public places clean and be mindful of safety when celebrating Christmas.

 

Together with law enforcement teams in various departments, the LCSD will boost patrols at its venues from December 24 to 26 to tackle littering, illegal hawking and vandalism.

 

Additional cleaning staff and security guards will also be deployed, the department added.

 

Littering will incur a fixed penalty of $3,000.

 

As crowd management measures will be implemented at some venues, visitors are advised to pay attention to announcements, and to follow the instructions of on-site officers.


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