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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

Youth Dashboard launches

The Home & Youth Affairs Bureau today launched the Youth Dashboard with the aim of presenting the main demographic characteristics of Hong Kong youth and an overview of their different aspects, including education, employment, entrepreneurship, housing, marriage and fertility, well-being and social participation. 


This is the first time the Government consolidated its youth-related data and information and presented them in such a way, the bureau noted.


It added that the dashboard includes interactive charts which allow users to flexibly select the information and different data combination to be displayed.


The information and data will be updated regularly and continuously to reflect the latest trends and situation concerning the city’s youth.


The bureau released the Youth Development Blueprint late last year, which stated that it will launch the dashboard to consolidate youth-related data and trends, thereby keeping better tabs on young people and promoting youth development work.

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