Marcellus Wong Yui-keung

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New types of indirect tax must be explored as the population ages

In his budget, Financial Secretary John Tsang Chun-wah announced an estimated surplus of HK$12 billion for 2013-14 and forecast surplus of HK$9 billion for 2014-15. This is a result of the government's efforts to adhere to the fiscal discipline of keeping expenditure within the limits of revenue. Indeed, the government has controlled public expenditure at about 20 per cent of gross domestic product since 1997-98.

27 Feb 2014 - 4:51AM

In his budget, Financial Secretary John Tsang Chun-wah announced an estimated surplus of HK$12 billion for 2013-14 and forecast surplus of HK$9 billion for 2014-15. This is a result of the government's efforts to adhere to the fiscal discipline of keeping expenditure within the limits of revenue. Indeed, the government has controlled public expenditure at about 20 per cent of gross domestic product since 1997-98.

New types of indirect tax must be explored as the population ages