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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

DC election arrangements ready

Electoral Affairs Commission Chairman David Lok said today the arrangements for tomorrow's 2023 District Council Ordinary Election are ready.


Mr Lok and Secretary for Constitutional & Mainland Affairs Erick Tsang accompanied Chief Executive John Lee to visit the District Council geographical constituency polling station at Ningnan Secondary School to inspect the set-up and on-site rehearsal this morning.


“Arrangements for the elections are ready and electoral staff are in the final preparations and rehearsal, and will spare no effort to discharge their duties to ensure a smooth and accurate conduct of the poll and count tomorrow,” Mr Lok noted.


More than 600 District Council geographical constituency (DCGC) polling stations will be set up to serve about 4.33 million electors. A total of 18 District Committees constituency (DCC) polling stations will also be set up across the city for about 2,500 DCC electors to cast their DCC votes.


Mr Lok reminded DCC electors to cast their DCC and DCGC votes respectively at two polling stations.


He then joined Mr Tsang to inspect the near boundary polling stations set up at Hong Kong Taoist Association Tang Hin Memorial Secondary School and Tung Wah Group of Hospitals Kap Yan Directors' College.


The commission chairman extended his thanks to staff of the Registration & Electoral Office and other relevant bureaus and departments for their efforts, and called on registered electors to fulfil their civic responsibility and vote tomorrow.

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