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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

Food waste recycling scheme opens

A pilot scheme opened today for private housing estates with a total household number of at least 1,000 units to apply for food waste smart bins.

 

Under the Pilot Scheme on Food Waste Smart Recycling Bins in Private Housing Estates, the Environmental Protection Department will arrange for contractors to install the food waste smart bins in participating housing estates and deliver the collected food waste to centralised treatment facilities every day, for treatment and conversion into electricity and compost.

 

The participating housing estates will be provided with domestic food waste buckets for distribution to residents for food waste collection.

 

The smart bins provided are equipped with overflow prevention and odour abatement devices to maintain a hygienic environment.

 

They are also connected to the GREEN$ Electronic Participation Incentive Scheme, allowing residents to earn GREEN$ points and redeem gifts by recycling food waste.

 

Together with the maintenance services, the pilot scheme will last for two years, free of charge.

 

To facilitate the implementation of Municipal Solid Waste Charging on April 1, 2024, the Environmental Campaign Committee provided funding support to the scheme to encourage residents to cultivate the habit of food waste recycling.

 

Click here for details.


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