The Democratic Party has urged the Financial Secretary to increase spending in the next Budget by $3.3 billion, to create more jobs for the poor and fund environmental projects.
The party yesterday presented Donald Tsang Yam-kuen with a $10 billion deficit blueprint to ease the plight of the poor and foster a green economy.
The Government has budgeted $6.8 billion in spending on initiatives under the guideline of a 2.5 per cent growth in spending in 2001-02.
Speaking after the meeting, Democrat economy spokesman Sin Chung-kai said the Government could afford to spend more in light of the estimated 8.5 per cent GDP growth. 'The economy has improved a lot and our fiscal reserves are huge. I think a deficit budget with more tax concessions for the needy is acceptable,' Mr Sin said.
The 156 spending initiatives include 'green' taxes on industries detrimental to the environment. Party environment spokesman Law Chi-kwong said he hoped the green taxes could encourage people to use more environmentally friendly products.
The party is calling for a new tax allowance for people supporting parents or family members who become unemployed.
