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Hong Kong Budget 2018-2019

Hong Kong Budget 2018-2019
The latest news, analysis and opinion on Hong Kong Budget 2018-2019. In-depth analysis, industry insights and expert opinion.
Riot police give chase as protesters throw petrol bombs in Causeway Bay on August 31. A leaked tape of Chief Executive Carrie Lam speaking to business leaders revealed a genuine desire to keep “one country, two systems” going in Hong Kong. Photo: Felix Wong
The View

How leaked Carrie Lam tape brought good news for Hong Kong

The tape proved that Lam and Beijing are both keen to see ‘one country, two systems’ thrive, but it must work both ways. For a return to peaceful prosperity, all Hong Kong needs is for Lam to swallow her pride and her financial officials to loosen the purse strings.

Hong Kong economy

Letters | Why are taxpayers yet to receive cash handouts promised last year?

Greater Bay Area

Science Park chief calls for free exchange of big data and bio samples

Hong Kong innovators

Hello computer: Hong Kong to spend HK$45 billion grooming tech leaders

Education funding is among a host of initiatives to boost the city’s innovation and technology sector – and its dream of becoming a global tech hub.

Under the IT Innovation Lab programme, each of Hong Kong’s 519 secondary schools would be granted HK$1 million to procure information technology equipment and related services. Photo: David Wong

Government to simplify cash handout application process

Proof of address no longer needed after concerns some residents would not be able to provide it.

Government will take flexible approach to cash handout, Cheung vows

Acting chief executive Matthew Cheung responds to concerns some of those eligible for HK$4,000 will struggle to get it, as not all have proof of address.

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Ageing society

Both lawmakers and government should reflect on welfare feud

The raising of the minimum age for elderly social security payments was not unjustified at a time when Hong Kong people are living longer, but the finger-pointing that followed was

The move to cut the CSSA payments of many poor and elderly Hongkongers caused anger from across the political spectrum. Photo: AFP
Ageing society

Opinion | Tragic case reflects need for better elderly care

The killing of a chronically ill companion by an 81-year-old man brings home the misery of those suffering in poverty.

Ageing society

Opinion | Hong Kong’s welfare system has to help those in need

Raising the threshold for payments to the elderly may not prompt mass protests, but in a city where many live in poverty a strong safety net must not be compromised

Carrie Lam

Hong Kong government wrong to cut elderly welfare

The qualifying age for the old-age benefit is being raised to 65, meaning those aged between 60 and 64 will receive close to a third less in financial support

The government is being condemned for a new plan under which those aged between 60 and 64 will receive close to a third less in financial support as the government raises the qualifying age to 65. Photo: Winson Wong

NGOs can apply for up to HK$60 million to transform vacant sites

Arts groups, youth centres, community recycling centres or animal rights groups will all be eligible to apply for the funding

Kwan Ti Public School in Fanlight was closed in 2004 and has been left vacant since. Photo: Dickson Lee
Education

Opinion | Singapore prioritises education reform. Why doesn’t Hong Kong?

The education system needs to be reformed at every level. Schools should be less exam-oriented, vocational education should not be second best, and the University Grants Committee should nurture creativity, not nip it in the bud.

Hong Kong’s highly efficient civil service deserves a better pay rise

Pay demands of civil servants are unrealistic

Unions are holding out for a 5 per cent increase across the board at a time when those in the private sector can expect far less through rises based on performance

Unions are holding out for a 5 per cent increase across the board at a time when those in the private sector can expect far less through rises based on performance

A 4.51 per cent pay rise? No, give us 5 per cent, frontline civil servants say

The government considered factors such as economic outlook, other industries and the city’s coffers, but workers’ groups say public sector should not be pegged to private.

Civil servants say they should not be compared with the private sector when determining salary policies because of different job natures. Photo: Felix Wong
Hong Kong economy

Study calls for lowest pay rise for frontline civil servants since 2010

Recommendations, which still need government approval, call for lowest earners to receive a 2.85 per cent pay rise while highest earners would get 4.06 per cent increase.

Legislative Council of Hong Kong

Fast work in Legco: budget gets green light after just 40 hours

With little filibustering in chamber and relatively few amendments, Legislative Council took just five meetings to debate and vote on financial blueprint – a far cry from bitter wrangling of recent years.

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Hong Kong's richest should pay more tax, say lawmakers

Data shows the highest earners paid HK$22.8 billion of the city’s HK$63.6 billion in salaries tax – but some lawmakers say the richest need to pay more.

Data shows the highest earners paid HK$22.8 billion of the city’s HK$63.6 billion in salaries tax – but some lawmakers say the richest need to pay more

Cash handout scheme will cost HK$330 million to administer

Administration fees to eat up 2.9 per cent of HK$11 billion scheme that gives up to HK$4,000 to eligible people.

My Take

My Take | Budget philosophy offers very little change

A study has revealed spending on infrastructure projects and the welfare of the well-off continues apace despite claims that those in need will benefit   

Ageing society

Demographic time bomb? Is Hong Kong spending enough to cope with greying population?

Research released by the city’s legislature shows that despite pledges to spend more in the coming years, Hong Kong is still underprepared for a greying citizenry, and some funds even go unused.

An elderly man walks along a Kowloon promenade next to Hong Kong’s Victoria Harbour. Photo: AFP
Hong Kong property

Top 10 landlords enjoy budget rates waiver of HK$256 million

The top ratepayer alone is expected to receive a rates concession of HK$102.6 million from 15,645 rateable properties owned.

The top 10 landlords own more than 40,000 property units. Photo: EPA
Technology

Will innovation scheme enrich investors rather than drive tech?

Preferential terms on the table for private partners in government investment initiative could make it little more than a get-rich-quick scheme, experts say.

Ageing society

43,000 needy and elderly in Hong Kong first to get cash handouts

The handouts were announced in an amendment to the budget last month to give up to HK$4,000 each to 2.8 million city residents

Why Paul Chan’s rethink on budget handouts does not set good precedent

Financial Secretary Paul Chan Mo-po arrives to speak to the media after announcing that a third of Hongkongers will get a cash handout of up to HK$4,000 each, as Labour and Welfare chief Law Chi-kwong follows behind, at the Hong Kong government headquarters, in Admiralty on March 23. Photo: Sam Tsang
Universities in Hong Kong

No place for disruptive political protests at Chinese University, new president says

Rocky Tuan opens lines of communications with student leaders but emphasises political boundaries that must not be crossed

Rocky Tuan opens lines of communications with student leaders but emphasises political boundaries that must not be crossed
The View

The View | Spend Hong Kong’s huge reserves on a cash ‘inheritance’ for the young

Giving one-off budget ‘sweeteners’ is not an effective way of sharing the wealth. With no public spending reform or universal pension scheme, the next best way may be a publicly funded ‘inheritance’ for, say, all who have turned 25.

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City Beat

City Beat | Can Hong Kong officials rely on the pro-establishment camp?

As the adage goes, only interests are eternal, and getting motions and funding passed in the city’s polarised legislature requires a deft touch.

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