Majority of youth lacks confidence in Budget

More than 60 per cent of young people have no confidence tomorrow's Budget will improve the economy, according to a survey released yesterday.

About the same percentage wanted a balanced budget, a quarter opted for a surplus and 10 per cent preferred a deficit.

A slight majority of the 526 young respondents surveyed by the Hong Kong Federation of Youth Groups early this month wanted measures to be introduced to improve the economy. The rest urged priority to be given to employment and property prices.

More than half thought a cut in salary tax and rates would help their family's financial situation the most.

A majority hoped for higher allowances in personal income tax. Nearly a quarter revealed the recent financial turmoil had had a negative impact on their families.

About one-third indicated their families had invested in the stock market, but few said they had suffered a great loss.

More than 85 per cent said their families would not buy flats this year because they could not afford the down-payment.

Most respondents in a separate survey by the Liberal Party urged the Government to cut salary tax and rates.

The majority of the 377 respondents wanted more help from the middle class and small entrepreneurs, party chairman Allen Lee Peng-fei said.

'Hong Kong people are very sensible. They are not asking the Government to throw its money about, [just] a balanced budget with enough money for rainy days,' he said.