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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

Intangible heritage scheme opens

The Leisure & Cultural Services Department is inviting applications for the Intangible Cultural Heritage (ICH) Funding Scheme until noon on January 18, 2024.


The funding scheme consists of two parts, namely Community-driven Projects 2023 and Partnership Projects 2023.


Community-driven projects must relate to items on the Representative List and the Inventory of the ICH of Hong Kong. For partnership projects, applications are invited across seven ICH categories, namely Research & Publication, ICH Domain, ICH Mobile Centre, ICH Everywhere, ICH Hub, ICH Creation, and Transmission & Training Programmes.


The department said the funding scheme aims to strengthen safeguarding, research, education and promotion with regard to local ICH items, and to aid the transmission of ICH.


By engaging the community in safeguarding ICH, the department also hopes the scheme will enhance public awareness and understanding of, and respect for, ICH.


Application information is available on the website of the ICH Office. Application forms and relevant documents can be submitted in person or via GovHK.


A session will be held at 3pm on December 15 at the Lecture Hall of the Hong Kong Museum of History in Tsim Sha Tsui to brief interested parties on the funding scheme and how to make applications to it. Registration for the session can be completed online.


Call 2267 1971 for enquiries.

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