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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

Vitality Run scheduled for March 3

The 9th Hong Kong Games’ Vitality Run will be held along the Shing Mun River in Sha Tin on March 3.

 

The event comprises two categories – one involving a route of around 3km, which is open to all ages, and a 10km race open to those aged 16 or above. Enrolment is capped at 4,300 and 1,200 for the two races, respectively.

 

Members of the public can enrol themselves through the My SmartPLAY App, the SmartPLAY webpage or smart self-service stations from 8.30am on January 10 on a first-come-first-served basis.

 

Each participant will receive a T-shirt and other souvenirs. Those who complete the run within the time limit will also receive a certificate and a medal.

 

Participants can also compete for the Most Creative Costume Prize and the Overall Best Team Costume Prize.

 

On the day of the event, stage performances, game booths, a photo corner, and an interactive sports zone incorporating multimedia and virtual reality technologies, will be set up at Yuen Wo Playground, allowing participants to enjoy the ambience of the 9th Hong Kong Games and learn more about its inter-district sports competitions and community participation programmes.


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