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Hong Kong budget 2019-2020

Hong Kong budget 2019-2020
The latest news, analysis and opinion on Hong Kong budget 2019-2020. In-depth analysis, industry insights and expert opinion.
Financial Secretary Paul Chan Mo-po presents the budget at the Legislative Council Complex in Tamar, Hong Kong on February 26. Photo: Winson Wong
Legislative Council of Hong Kong

Editorial | Despite concerns, let the money flow

It is in Hong Kong’s interest for the Legislative Council to examine the details closely and pass the government budget expeditiously

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Hong Kong youth

Letters | Another year, another budget: child neglect never gets old

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Carrie Lam

Opinion | As Carrie Lam erodes our freedoms, Hongkongers must stand together

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Coronavirus pandemic

Letters | Why non-permanent residents deserve HK$10,000 handout too

Those who have not yet achieved permanent resident status also suffered greatly during the events of the past months. Granting all Hong Kong residents the handout would be an inclusive gesture.

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Hong Kong Financial Secretary Paul Chan delivers the budget speech at the Legislative Council on February 26. Photo: Reuters
Hong Kong economy

Hopes high for cash handout as Hong Kong turns eyes to budget unveiling

Finance chief will have ‘no tricks up his sleeves’ in wake of series of relief measures, cabinet member warns.

Hong Kong economy

Financial secretary plans to deliver budget address at Legco as normal

Paul Chan’s fourth budget speech will detail the extent of the city’s first deficit in 15 years.

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Coronavirus pandemic

Coronavirus effect on economy could be more severe than Sars’

Financial Secretary Paul Chan says city is now more reliant on tourism, which has been severely hammered by health crisis, on top of ongoing civil unrest.

Businesses have been hit hard by the coronavirus crisis and ongoing civil unrest. Photo: Dickson Lee
Hong Kong economy

Hong Kong’s budget deficit will increase next year: finance minister

Finance chief Paul Chan says another year in the red is no cause for concern with the city supported by HK$1.1 trillion in reserves.

Hong Kong protests

DAB floats suggestions ahead of budget to help Hong Kong ‘get back on track’

DAB suggests increasing resources to set up 24-hour special courts, strengthen police equipment, and clean up Lennon Walls across city at a meeting with Financial Secretary Paul Chan.

Hong Kong economy

Budget deficit ‘unavoidable’ in Hong Kong for two years, government says

The city will be in the red in 2020-21, as well as this year, finance chief Paul Chan said as he hammered home the impact of the protests on the city’s economy.

Hong Kong will have a deficit this year as well as next, the city’s finance chief predicted on Saturday. Photo: Roy Issa
Hong Kong protests

Finance chief Paul Chan warns of deficit as government boosts relief spending

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 said the government would not cut spending despite the pressure of an economic downturn. Photo: Winson 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 protests

Hong Kong dishes out HK$19.1 billion in sweeteners amid gloomy outlook, unrest

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.

City Weekend

Why getting women and retirees back into Hong Kong workforce is no easy job

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.

Illustration: Shutterstock
Ageing society

HK$20 billion not enough to buy sites earmarked for welfare facilities

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.

Sham Shui Po is one of the city’s oldest and poorest neighbourhoods. Photo: Felix Wong

Easy passage for government’s budget despite pan-democrat objections

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.

3.2 million applicants for handout scheme, unions say workload is too much

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.

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Water sports

Waterfront projects to embrace help from private sector, Paul Chan says

Harbourfront Commission recommends studying the waterfront districts of Singapore, Sydney and Copenhagen.

‘Avoid boring’: Hong Kong’s waterfront expansion to embrace creative ideas from private sector, Paul Chan says
Hong Kong healthcare and hospitals

Editorial | Heed call for health care efficiency review

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

Video | Hong Kong’s Financial Secretary explains 2019-20 budget

Hong Kong economy

Opinion | More money for public services is good. Using it wisely would be better

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.

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor and Financial Secretary Paul Chan Mo-po attend a press conference last year. Public expenditure is expected to reach 21.6 per cent of GDP in 2019-2020, a new high for the city. Photo: Winson Wong
Education in Hong Kong

Letters | Note to schools: old-fashioned typing is still a relevant skill

The budget has allocated a substantial sum for secondary schools to upgrade information technology equipment and classes

Schools should not forget about typing, which is still an important skill for IT jobs. Photo: K.Y. Cheng
Hong Kong housing

Letters | If now is not the time to tackle Hong Kong’s housing crisis, then when?

City Weekend

Why Hong Kong’s public toilet cleaners suffer in silence (and stench)

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.

Link Reit

Opinion | A smarter way for Hong Kong to spend that HK$20 billion

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.

Link Reit manages properties including Temple Mall in Wong Tai Sin. Why is the government proposing buying private properties to set up welfare facilities, when it can just buy back Link Reit? Photo: Sam Tsang
Hong Kong healthcare and hospitals

Letters | Why Hongkongers clamour for budget sweeteners

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.

Financial Secretary Paul Chan leaves the Legislative Council after delivering his budget speech on February 27. Photo: Bloomberg
Education in Hong Kong

Letters | What Hong Kong can learn from Singapore on education

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Hong Kong healthcare and hospitals

Letters | Hong Kong can’t fix its health care crisis with more money

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.

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