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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

GBA booth set at careers expo

The Guangdong-Hong Kong-Macao Greater Bay Area Development Office will set up a booth at the Education & Careers Expo 2024 for four consecutive days from tomorrow to introduce the latest information on bay area development.


This is the fourth consecutive year the office has set up a booth at the annual expo and the information available this year will cover choices and opportunities available for study, internship, employment and entrepreneurship in the Mainland cities of the GBA.


Apart from introducing tailor-made support schemes and facilitation measures for Hong Kong young people through electronic display panels and interactive games, the booth will feature an information station.


Through a simple and easy-to-use interface, the station introduces additional information on the GBA, including basic data about its cities, timeline of the bay area development and the policy measures of the Hong Kong Special Administrative Region Government in taking forward GBA development.


Additionally, a photo-taking spot will be set up for visitors and booth staff will distribute souvenirs to the public while stock lasts.


The office booth, located at Hall 1D (Booth 1D-D02) of the Convention & Exhibition Centre, will open from 10am to 7pm from January 25 to 27, and from 10am to 6pm on January 28.

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