Financial Secretary Chan Mo-po pointed out that the measures in the new Budget mainly focus on four measures

Financial Secretary Paul Chan released the latest Budget today. Measures to benefit the people include the distribution of $10,000 consumer coupons, a reduction of salaries tax by up to $10,000, a reduction of residential property rates by up to $5,000, CSSA/OAA/ Old Age Living Allowance/Disability Allowance will be paid for half a month more, electricity bills will be subsidized by 1,000 yuan, examination fees will be paid for DSE candidates in 2023, residential rental expenses will be deducted up to 100,000 yuan, the iBond will be reissued, and the continuing education fund will be increased to 25,000 yuan Wait.

Financial Secretary Chan Mo-po pointed out that the measures in the new Budget mainly focus on four measures: fighting and defeating the epidemic, providing relief to citizens and small and medium-sized enterprises, providing support for the downturned economy, promoting post-epidemic economic recovery, and investing in the future. On the one hand, the total commitment of counter-cyclical measures in the Budget exceeds 170 billion yuan, of which more than 54 billion yuan will be invested in the fight against the epidemic.

On the budget side, a surplus of $18.9 billion is forecast for 2021/2022, fiscal reserves are expected to be $946.7 billion at 31 March 2022, while total government revenue for 2022/23 is expected to be $715.9 billion.