Estimates for 2012-13

GDP growth: 1 per cent to 3 per cent.

Headline inflation: 3.5 per cent.

Government expenditure: HK$394 billion (up 7 per cent).

Government revenue: HK$390 billion.

A deficit of HK$3.4 billion in consolidated account.

Fiscal reserves estimated at HK$668.7 billion by end-March 2013, equivalent to 34 per cent of GDP or 20 months of government expenditure.

Help for small and medium-sized businesses

Business registration fees to be waived for the year.

Profits tax to be reduced by 75 per cent for 2011-12, subject to a ceiling of HK$12,000.

Charges to be halved on import and export declarations, capital duty levied on local companies to be abolished.

SME financing-guarantee scheme to be enhanced by increasing the maximum loan guarantee ratio to 80 per cent, for which the government will provide a guarantee commitment of HK$100 billion, while the guarantee fee will be lowered.

Hong Kong Export Credit Insurance Corporation will offer discounts to SME policyholders.

Unemployment

HK$220 million for Construction Industry Council to enhance training programmes.

Employees Retraining Board will offer 130,000 training places for the unemployed and people seeking employment.

HK$100 million injection for the Enhancing Employment of People with Disabilities through Small Enterprises Project, which grants funding to non-government organisations to set up small enterprises employing people with disabilities.

Land

Housing land supply for 2012-13 estimated to provide 30,000 private residential flats.

Application list in the Land Sale Programme will include 47 residential sites, of which half are new sites. They would provide 13,500 flats if sold.

A public consultation will be launched on two property projects above the MTR West Rail Kam Sheung Road station and Pat Heung depot - estimated to provide about 8,700 flats.

Subsidised housing

75,000 public rental flats to be built in the five-year period from 2011-12.

Six sites in Sha Tin, Tsuen Wan, Kwai Tsing and Yuen Long initially identified for the first batch of developments under the new Home Ownership Scheme.

Urban Renewal Authority invited to launch redevelopments of industrial buildings in the form of a pilot scheme.

Education

Government expenditure estimated at HK$60 billion (up 7 per cent).

HK$1 billion to implement a new programme modelled on Project Yi Jin for further education for secondary school leavers and adult learners.

HK$2.5 billion to launch the sixth Matching Grant Scheme, which will cover all statutory and approved post-secondary institutions.

Two separate injections of HK$1 billion each, into the HKSAR Government Scholarship Fund and Self-Financing Post-Secondary Education Fund, to establish more scholarships or award schemes.

HK$5 billion to Research Endowment Fund to enhance the academic and research development of tertiary institutions.

Health care

Recurrent expenditure estimated at HK$45 billion (up 8 per cent).

HK$2.2 billion towards Hospital Authority clinic and hospital projects, including the expansion of the United Christian Hospital and redevelopment of Yan Chai Hospital, Kwong Wah Hospital and Queen Mary Hospital.

HK$10 billion to the Samaritan Fund.

Social welfare

Government spending estimated at HK$44 billion (up 9 per cent).

Extra spending for implementing public-transport concessions for the elderly and disabled, providing additional 1,000 subsidised residential-care places and other elderly care services.

HK$900 million for improving facilities at 250 district elderly community centres.

Relief measures

Extra allowance, equal to one month's payment, for all Comprehensive Social Security Allowance, Old Age Allowance and Disability Allowance recipients.

Two months' rent waived for public housing tenants.

Subsidy of HK$1,800 for each residential electricity account, benefiting 2.5 million households.

Waiving of property rates for 2012-13, subject to a ceiling of HK$2,500 per quarter - estimated to cover almost 90 per cent of properties.

Reduction in salaries tax and tax under personal assessment for 2011-12 by 75 per cent, subject to a ceiling of HK$12,000.

Raising of basic tax allowance to HK$120,000.

Raising of married person's allowance to HK$240,000.

Raising of allowance for maintaining a dependent parent or grandparent aged 60 or above to HK$38,000.

Raising of child allowance to HK$63,000.

Raising of dependant brother/sister allowance to HK$33,000.

Raising of disabled dependant allowance to HK$66,000.

Extending entitlement period for the tax reduction for home-loan interest to 15 years of assessment.

Increasing maximum tax deduction for mandatory contributions to Mandatory Provident Fund schemes to HK$15,000.

Giving all student-loan borrowers who complete their studies in 2012 the option to start repaying their student loans one year after completion of studies.

Social capital

Hong Kong Mortgage Corporation to introduce a three-year pilot scheme of microfinance. The maximum loan amount will be capped at HK$100 million with a repayment period as long as five years.

Injecting HK$200 million into the Community Investment and Inclusion Fund to promote social-capital development.

A further issuance of iBonds worth not more than HK$10 billion.

Allocating HK$150 million to the Mega Events Fund and extending its operation for five years.

Setting up a fund of HK$1 billion to help Hong Kong enterprises tap the mainland market.

Infrastructure

The value of infrastructure projects approved and to be submitted to the Legislative Council is HK$400 billion.