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Economic and political challenges remain but city’s government has the resources to overcome obstacles brought about by Covid-19 and other factors to restore confidence and balance the books sooner rather than later.
Hong Kong’s finance minister has sought to address the hardship of those worst hit by the latest coronavirus wave without losing sight of the need to prepare for post-pandemic recovery.
- City’s finance chief says having ‘complete hardware is indispensable’ when promoting development of sports in Hong Kong
- Chan champions emerging sports as offering ‘closer connections’ among residents, while promising to include activities such as climbing, skateboarding at centres
Finance minister says it is ‘appropriate’ to give out vouchers since city is still recovering from economic effects of coronavirus pandemic.
Health chief Lo Chung-mau also defends raising tobacco tax, says ending mask requirement will increase smoking rate.
Bill approved with 87 supporting votes and no objections, while social welfare sector representative Tik Chi-yuen voted to abstain.
The popularity of tiny homes took a beating last month after the government relaxed mortgage rules, bringing larger homes within reach of first-time buyers.
Finance minister Paul Chan says AlipayHK, Tap & Go or WeChat Pay HK users to receive first half of e-voucher worth HK$5,000 in one instalment.
Rigid eligibility rules for e-voucher scheme go against the spirit of helping needy, Society for Community Organisation says.
Financial Secretary Paul Chan also says the city will seek to drive economic growth by investing in the technology sector.
Amended proposal to be presented to Legislative Council, and source says it could take effect very soon.
Digital wallets will account for 40 per cent of Hong Kong’s online transaction value by 2025, overtaking credit cards, according to a new report from US financial technology company FIS.
Readers discuss opposition to the financial secretary’s rent deferral proposal for small businesses, guidance needed on deciding the seriousness of illness, the proposed closed-loop for care homes, the recently issued emergency alert, and the role of district councils.
Alliance of SMEs plans to hold a press conference soon with legislators in a bid to push the government and Executive Council to endorse proposal.
An insider said Lam became sceptical of the proposal after facing strong opposition from ‘angry’ developers and big landlords.
The government’s commitment of funds in the 2022-23 budget to climate change mitigation measures is welcome, but is nowhere near what is needed to to achieve Paris Agreement goals. Projects, such as the Northern Metropolis and Lantau Tomorrow, should not be rushed through without attention to their environmental impacts
Development official Ricky Lau reveals plans for HK$1 billion training and recruitment plan to boost number of construction industry workers.
Financial Secretary Paul Chan’s appeal follows one day after city’s leader asks developers to relieve rental ‘burden’ placed on tenants.
Financial Secretary Paul Chan says authorities will offer small commercial property owners three months’ worth of rent on their tenants’ behalf, of up to HK$100,000.
The Post adds up what a working couple with a two-year-old child will get from Paul Chan’s budget.
Hong Kong government has made a habit of ‘underestimating surpluses, overestimating deficits’
Financial Secretary Paul Chan says law will allow small and medium-sized enterprises in these industries to delay rent payments from January for up to six months.
Some residents worry they will not receive this year’s vouchers on time, while politicians have faulted the financial secretary for not simply giving out HK$10,000 in cash instead.
Analysts note the finance chief has cast aside many long-standing restraints and conventional wisdom of public finances.
Others such as lawmaker Regina Ip argue that cash handouts would have been better than the HK$10,000 consumption voucher scheme.
