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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

Choi Yuk-lin to visit UK, Finland

Secretary for Education Choi Yuk-lin will depart tomorrow for a duty visit to the UK and Finland, the Government announced today.

 

At the British Educational Training & Technology Show to be held in London, the UK, she will speak at a panel session and support Hong Kong teachers and students who will participate in the show.

 

On January 26, she will visit Helsinki, Finland, and attend the Educa education exhibition, where she will join a topical discussion on the role of education for the future with representatives from other regions.

 

Also on her UK and Finland itinerary are visits to education units and meetings with sector experts and Hong Kong students.

 

Ms Choi will return to Hong Kong on January 28. During her absence, Under Secretary for Education Sze Chun-fai will be Acting Secretary.


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