Hong Kong budget 2017 as it happened: Paul Chan announces HK$92 billion surplus
Fiscal reserves estimated to hit HK$952 billion by March 2018
Newly appointed financial secretary Paul Chan Mo-po has given his maiden budget announcement – the last one under Chief Executive Leung Chun-ying’s administration.
Follow the latest updates and read about how the speech unfolded – including one legislator being kicked out of the chamber – below:
2.08 – Democratic Party adds criticism
The Democratic Party is also disappointed with Chan’s maiden budget.
Chairman Wu Chi-wai says: “The government’s surplus is larger than last year’s, but Paul Chan is only following John Tsang’s approach of giving out sweeteners.”
Lawmaker Hui Chi-fung, from the same party, says: “[The budget] hasn’t mentioned tax allowance for parents taking care of children ... [Chan] also stopped short of explaining how to tackle problems that will be caused with an ageing population.”
1.44 – Scorn over lack of help for the poor