Theme: “Moving forward with confidence. Seize opportunities. “Towards quality development”, the budget blueprint to be released on Wednesday morning includes a series of measures to boost growth. include.
Residential house prices fell for the ninth straight month in January to levels seen in 2016, with all decade-old cooling measures aimed at curbing speculation immediately set to revive Hong Kong’s sluggish property market. Abolished. .
New funds have been earmarked to revitalize the tourism industry, while payroll taxes and profit taxes have been reduced to ease the financial burden on citizens and small businesses amid the government’s dire fiscal situation.
With the city’s budget deficit soaring to HK$101.6 billion and Hong Kong’s financial reserves likely to be at their lowest in a decade, the Finance Secretary has urged a more targeted approach to spending this year and He promised to abolish consumption vouchers for foreigners.
Reporting by Jeffie Lam, Denise Tsang, Lo Hoi-ying, Sammy Heung, Elizabeth Cheung, Lilian Cheng, Natalie Wong, Oscar Liu, Connor Mycroft, Jess Ma, Ambrose Li, Harvey Kong