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- The city will be in the red in 2020-21, as well as this year, the senior official said on Saturday
- It is too early to say whether public spending will exceed income over the longer term, Chan adds
Government originally estimated a surplus of HK$16.8 billion – but the city has spent more and earned less during months of protests.
Government originally estimated a surplus of HK$16.8 billion – but the city has spent more and earned less during months of protests.
Financial Secretary Paul Chan cites a host of reasons for the relief measures but studiously avoids the word ‘protests’. He also warns the city’s economy could enter into a technical recession.
Financial Secretary Paul Chan cites a host of reasons for the relief measures but studiously avoids the word ‘protests’. He also warns the city’s economy could enter into a technical recession.
With an ageing population and low fertility rate, Hong Kong is facing a shrinking labour force. But getting more people to join or re-enter the workforce is no easy matter.
With an ageing population and low fertility rate, Hong Kong is facing a shrinking labour force. But getting more people to join or re-enter the workforce is no easy matter.
Instead of the 130 facilities announced in February’s budget, the Social Welfare Department released a list of about 160 in the city’s 18 districts, including 55 elderly activity centres and 28 childcare centres.
Instead of the 130 facilities announced in February’s budget, the Social Welfare Department released a list of about 160 in the city’s 18 districts, including 55 elderly activity centres and 28 childcare centres.
The budget was passed by 44 to 15 after 50 hours of debate. All 56 amendments put forward by the pan-democrats were rejected, including one that sought to cut Chief Executive Carrie Lam’s salary.
The budget was passed by 44 to 15 after 50 hours of debate. All 56 amendments put forward by the pan-democrats were rejected, including one that sought to cut Chief Executive Carrie Lam’s salary.
The three-month window to apply for the HK$4,000 sum closed on Tuesday. Unions say staff have had to work overtime to process the applications and at least 20 have quit.
The three-month window to apply for the HK$4,000 sum closed on Tuesday. Unions say staff have had to work overtime to process the applications and at least 20 have quit.
Harbourfront Commission recommends studying the waterfront districts of Singapore, Sydney and Copenhagen.
Harbourfront Commission recommends studying the waterfront districts of Singapore, Sydney and Copenhagen.
Hong Kong Financial Secretary Paul Chan Mo-po attended the Redefining Hong Kong Debate Series, organised by the South China Morning Post on March 13, to explain his 2019-20 budget.
Hong Kong Financial Secretary Paul Chan Mo-po attended the Redefining Hong Kong Debate Series, organised by the South China Morning Post on March 13, to explain his 2019-20 budget.
Government expenditure on welfare, education and health care has risen over the years, but without sufficient oversight on whether such spending is useful, the money will not have the intended impact.
Government expenditure on welfare, education and health care has risen over the years, but without sufficient oversight on whether such spending is useful, the money will not have the intended impact.
The budget has allocated a substantial sum for secondary schools to upgrade information technology equipment and classes
The budget has allocated a substantial sum for secondary schools to upgrade information technology equipment and classes
Tender system for lowest bidder in cleaning contracts and lack of public education clog up efforts to improve embarrassing situation for city, even with government’s HK$600 million bid to flush away issue.
Tender system for lowest bidder in cleaning contracts and lack of public education clog up efforts to improve embarrassing situation for city, even with government’s HK$600 million bid to flush away issue.
The budget proposal to buy private properties to set up welfare facilities has come under fire, and the welfare secretary has said the government will not buy them from Link Reit. Actually, a smarter solution would be to buy back Link Reit.
The budget proposal to buy private properties to set up welfare facilities has come under fire, and the welfare secretary has said the government will not buy them from Link Reit. Actually, a smarter solution would be to buy back Link Reit.
The elitism of members of the establishment in Hong Kong is evident in their failure to understand why the middle-class needs help from the government.
The elitism of members of the establishment in Hong Kong is evident in their failure to understand why the middle-class needs help from the government.
This year’s budget allocates more funds to health care but doesn’t get at the roots of the problem — air pollution, stressful working conditions and high rents.
This year’s budget allocates more funds to health care but doesn’t get at the roots of the problem — air pollution, stressful working conditions and high rents.
Improved toilet facilities won’t go far if they are poorly maintained and users are not educated on treating public property well.
Improved toilet facilities won’t go far if they are poorly maintained and users are not educated on treating public property well.
Proposal to buy private properties to look after children and the elderly may be well-intentioned but concerns should be addressed.
Proposal to buy private properties to look after children and the elderly may be well-intentioned but concerns should be addressed.
Scheme will be implemented in phases over three to five years, with about 20 pieces of private property acquired each year.
Scheme will be implemented in phases over three to five years, with about 20 pieces of private property acquired each year.
Paul Chan successfully lowered public expectations for his most recent budget and, most unusually for this government, has showed the ability to apologise sincerely.
Paul Chan successfully lowered public expectations for his most recent budget and, most unusually for this government, has showed the ability to apologise sincerely.
Officials want to consolidate several government buildings into one high-rise to house more community facilities and free up land for housing.
Officials want to consolidate several government buildings into one high-rise to house more community facilities and free up land for housing.
Finance secretary stands ground despite pressure from critics who say latest budget does not tackle housing crunch. He argues that measures can come any time later, but it would be irresponsible to roll out policies now.
Finance secretary stands ground despite pressure from critics who say latest budget does not tackle housing crunch. He argues that measures can come any time later, but it would be irresponsible to roll out policies now.
The new budget is a hodgepodge of crowd-pleasing measures and deal-making with sectoral interests. The financial secretary has failed to think through issues facing Hong Kong’s economy, education system and health sector.
The new budget is a hodgepodge of crowd-pleasing measures and deal-making with sectoral interests. The financial secretary has failed to think through issues facing Hong Kong’s economy, education system and health sector.
Financial secretary urges youth to focus on scheme’s potential after the city’s leader Carrie Lam announced eight measures for better cross-border integration.
Financial secretary urges youth to focus on scheme’s potential after the city’s leader Carrie Lam announced eight measures for better cross-border integration.
Secretary for Food and Health Professor Sophia Chan follows up on budget measures to alleviate problems in city’s overburdened health care facilities. Authority head admits there is room for improvement.
Secretary for Food and Health Professor Sophia Chan follows up on budget measures to alleviate problems in city’s overburdened health care facilities. Authority head admits there is room for improvement.
From my balcony every day, I see billionaires’ yachts passing humble boats operated by ageing former fishermen who make their living by ferrying the super-rich. The contrast could not be more stark.
From my balcony every day, I see billionaires’ yachts passing humble boats operated by ageing former fishermen who make their living by ferrying the super-rich. The contrast could not be more stark.
Hong Kong finance chief shoots down calls from lawmakers for more short-term relief measures as local economy feels the pressure.
Hong Kong finance chief shoots down calls from lawmakers for more short-term relief measures as local economy feels the pressure.
Lisbon offers a good example of how to use original tramways and a waterfront cable-way to cater to tourism. Sometimes it pays to go back to the future.
Lisbon offers a good example of how to use original tramways and a waterfront cable-way to cater to tourism. Sometimes it pays to go back to the future.
Secretary for Labour and Welfare Law Chi-kwong dismisses range of concerns, including the chance of collusion and effect on real estate prices.
Secretary for Labour and Welfare Law Chi-kwong dismisses range of concerns, including the chance of collusion and effect on real estate prices.
The value of extra budget money for Hong Kong’s health system should not be at risk of being tangled up in red tape and bureaucracy
The financial secretary has offered Hong Kong neither long-term planning nor shorter-term solutions, and reserves expected to hit HK$1.16 trillion will be put away for another rainy day