HK$290m to help offset Occupy protest losses

A series of one-off measures to help businesses affected by the Occupy Central protests were unveiled in the budget yesterday, as well as fresh plans aimed at lifting the city's image.

The initiatives, totalling some HK$290 million, will also benefit businesses that operate outside the three core protest zones in Mong Kok, Admiralty and Causeway Bay.

Industry insiders welcomed the news, although they said the short-term measures could not help them recoup losses suffered during the protests.

In his speech, Financial Secretary John Tsang Chun-wah said the 79-day pro-democracy movement had affected the tourism, hotel, catering, retail and transport industries to varying degrees.

"Prolonged political bickering," he said, was detrimental to public administration and the international image of the city as a stable, law-abiding and efficient place. "It may even dampen investors' confidence in Hong Kong," Tsang said. "Such selfinflicted harm does not serve the city well."

While he said it was difficult to calculate the exact impact Occupy Central had on the city, he said the measures announced were necessary to keep the city competitive as he had seen a change in the business environment.

One of the sectors hit hard was the transport industry, as major thoroughfares were blocked by protesters. Tsang said he was waiving fees for vehicle examination for a year as commercial licences for taxis, light buses and franchised buses come up for renewal.