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Hong Kong budget 2025-26

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Hong Kong budget 2025-26
Hong Kong finance chief Paul Chan Mo-po delivered his budget speech on February 26 amid a weakened economic environment and calls to ease the city's deficit.
2024-25
Hong Kong Budget 2024-25
2023-24
Hong Kong Budget 2023-24
Real-name registration, introduced on August 25, 2024 to combat abuse, showed 22,000 beneficiaries averaging 120 to 240 trips monthly, in the first year. Photo: Jelly Tse
Hong Kong transport

Hong Kong government pays two-thirds of HK$90 million tab for HK$2 fare revamp

About 220 beneficiaries averaged more than 240 trips a month – equivalent to more than eight trips daily – with one hitting as many as 20 trips a day.

Hong Kong economy

Opinion | Why China’s economic reset is a credibility test for Hong Kong

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Hong Kong economy

Opinion | Hong Kong returning to surplus no excuse for splashing budget cash

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Hong Kong economy

Hong Kong finance chief revises budget deficit to HK$80.3 billion, down 8%

Paul Chan attributes lower figure to increased stamp duty income on stock trading and lower-than-expected departmental expenditure.

Hong Kong Exchanges and Clearing has announced its first-quarter profit reached a record high of HK$4.08 billion because of more new listings and increased turnover. Photo: Jelly Tse
Hong Kong politics

Opinion | Legco patriots’ budget criticism a warning that must be heard

If even patriotic lawmakers are saying that the people see only a self-serving government, then Hong Kong’s leaders have a big problem.

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Education in Hong Kong

Axing HK$2,500 study grant ‘could force 60% of needy Hongkongers to cut back’

Concern groups publish survey outlining potential impact on underprivileged families if government cuts universal grant for school students.

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John Lee

Hong Kong lawmakers question need for 3 new roles in Chief Executive’s Office

Planned recruitment of two information officers and driver will cost taxpayers HK$2.66 million annually in total.

The budget for the Chief Executive’s Office reached HK$130 million this year, after increasing by 7.8 per cent, or HK$9.2 million, over the previous year. Photo: Sun Yeung
Hong Kong housing

Opinion | How Hong Kong can reimagine its greatest asset: people’s homes

The city badly needs new revenue sources, and selling public housing units to tenants offers a better solution than painful cuts or new taxes.

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Hong Kong environmental issues

Letters | Carbon tax no longer an option for Hong Kong but a necessity

Readers discuss how a carbon tax can help the city meet its climate targets, the impact of a sales tax, and China’s top-down science strategy.

Hong Kong society

Letters | Hong Kong Sevens delivers a winner in Kai Tak stadium

Readers discuss how the new venue performed at a major event, budget cuts affecting the old and young, and the etiquette over priority seats on public transport.

Rugby fans relax outside the Kai Tak stadium on March 28, the first of the Hong Kong Sevens. The new stadium has proved itself a very good facility to support Hong Kong’s ambitions for events. Photo: Handout
Hong Kong society

Opinion | Hong Kong’s hard-hit middle class will bear brunt of rise in healthcare fees

The government sees the increases as an unavoidable course correction but, for many Hongkongers, it feels like yet another financial squeeze.

Hong Kong Secretary for Health Lo Chung-mau (centre) speaks about the changes to public hospital fees and charges, at the government headquarters in Tamar, on March 25. Photo: May Tse
Hong Kong property

Hong Kong’s March property sales rise to the highest in 4 months

Sales of new and lived-in homes, shops, office units, car parking space and industrial properties jumped by 55 per cent to 6,657 lots last month.

Hong Kong healthcare and hospitals

Opinion | Why Hong Kong must change its tax-funded healthcare model

Whether through co-payment schemes, mandatory insurance or expanded private-sector involvement, we must explore solutions for sustainability.

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Hong Kong economy

Opinion | How Hong Kong can dig itself out of recurring deficits

As the city borrows money to fund development, it risks depleting its savings unless policymakers act decisively to find new sources of revenue.

A visitor looks out over Hong Kong’s central business district on February 18. The city is facing its toughest fiscal test in three decades following a three-year run of substantial deficits. Photo: AFP
Hong Kong economy

Letters | Hong Kong could take leaf out of US’ cost-cutting book

Readers discuss the financial secretary’s efforts to cut costs, and the axing of the HK$2,500 student grant.

Financial Secretary Paul Chan Mo-po holds a press conference at government headquaters on February 26 after delivering the 2025-26 budget speech. Photo: Elson Li
Hong Kong

Letters | Hong Kong mustn’t balance its books on the backs of the most vulnerable

Readers discuss the government plan to cut spending by 7 per cent over three years, and the proposed amendment to the bill protecting the harbour.

Hong Kong transport

No plans to split elderly into groups for HK$2 transport fare: Hong Kong minister

Chris Sun says concessionary fare will continue to be offered to residents aged 60 and above even as data shows younger users are costing taxpayers more.

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Paul Chan

Most see cost-cutting moves as inadequate in ‘mild’ Hong Kong budget: survey

Survey respondents also divided on adjustments to HK$2 fare concession scheme.

In general, 55 per cent of respondents expressed dissatisfaction with the government’s budget Photo: Elson Li

Savings from Hong Kong fare scheme revamp ‘insignificant’: Legco research arm

Legislative Council Secretariat also says decision to freeze civil servant pay expected to save about HK$8.7 billion in coming financial year.

Hong Kong

Opinion | Hong Kong seniors are an economic force, not a budget write-off

Investing in their well-being and engagement could transform this demographic into a driving force for Hong Kong’s economy.

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Hong Kong economy

Opinion | Hong Kong must avoid jumping on AI bandwagon and focus on what it does best

Amid budget constraints, the city should gear research and innovation towards sectors where it has an advantage rather than follow trends.

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Illustration: Craig Stephens
Hong Kong transport

Opinion | Not too late to correct Carrie Lam’s mistake with HK$2 fare subsidy

Policy errors made by previous leaders need to be acknowledged, so the city can course-correct and achieve savings immediately.

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A sticker advertising the HK$2 fare scheme for the elderly and disabled is shown on a minibus on February 21. The plan implemented in 2012 was imaginative and socially significant, but the 2022 expansion of the scheme was a mistake. Photo: Elson Li
Hong Kong

Letters | Hong Kong needs a complete review of government structure and efficiency

Readers discuss how the civil service could be streamlined, and the Northern Metropolis plan.

Hong Kong

Opinion | Hong Kong must find the courage to reform its public finances

Reliance on salary freezes and workforce reductions has become a recurring theme. But they fail to address the public sector’s inefficiencies.

Hong Kong

Exclusive | ‘Aircraft processing plant planned for Hong Kong’s Northern Metropolis, airport’

First-of-its-kind facility in Asia expected to generate thousands of jobs and open up a lucrative industry in the city.

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An estimated 400 to 450 aircraft are dismantled and recycled each year. Photo: Sam Tsang
Hong Kong housing

Hong Kong rejects US credit rating agency’s report on property market oversupply

Report by S&P Global Ratings says excess of office space the ‘most acute’ problem facing sector.

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A government spokesman says it disagrees that there is an oversupply of residential properties, citing the 4.5 per cent vacancy rate for private flats as of the end of last year. Photo: Antony Dickson
Hong Kong

Letters | Hong Kong needs a smarter approach to water management

Readers discuss the importance of digital water systems, and the middle-class reaction to the financial secretary’s budget speech.

Hong Kong social welfare groups fear budget cuts will hurt service

Welfare chief Chris Sun meets representatives over 7 per cent funding cut, which has stirred concerns over service quality and manpower retention.

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