Business leaders quiz Leung on sustainability of his welfare package

Business leaders have expressed concerns about the city's ability to sustain a multibillion-dollar welfare package rolled out in Chief Executive Leung Chun-ying's policy address last week.

The leaders yesterday asked Leung for details on how he intended to shore up economic growth to fund the splurge on poverty alleviation.

"Without economic development, we cannot sustain the nice social policies," Chow Chung-kong, chairman of the General Chamber of Commerce, said.

Chow, also an Executive Council member, was speaking at the lunch gathering held annually for the chief executive to explain his policy address to the city's business community.

The address increased recurrent spending by about HK$10 billion. Among the initiatives was a HK$3 billion annual subsidy for low-income families.

Another chamber representative asked Leung: "You say we have a healthy budget … but the financial secretary says the funds will run out. … Where will the funding come from?"

Leung said a "dynamic" view had to be taken in evaluating both sides of the government's balance sheet.