Hong Kong budget 2023-24: after ‘Hello’, comes ‘Happy’ – HK$5,000 spending vouchers, lower stamp duty and higher sin taxes among new measures
- Financial Secretary Paul Chan says Capital Investment Entrant Scheme will also be introduced to attract talent, but investment in real estate will not be accepted
- ‘Happy Hong Kong’ drive will feature collaborations with theme parks to boost local spending
Published: 10:36am, 22 Feb, 2023
Hong Kong budget 2023-24: after ‘Hello’, comes ‘Happy’ – HK$5,000 spending vouchers, lower stamp duty and higher sin taxes among new measures.
Financial Secretary Paul Chan says Capital Investment Entrant Scheme will also be introduced to attract talent, but investment in real estate will not be accepted.
‘Happy Hong Kong’ drive will feature collaborations with theme parks to boost local spending.
Hong Kong’s finance chief on Wednesday revealed his latest budget blueprint, with the goal to boost recovery momentum in the aftermath of the Covid-19 pandemic.
Financial Secretary Paul Chan Mo-po announced yet another round of consumer vouchers – a move authorities have turned to over the past two years – despite some politicians and economists questioning the policy’s effectiveness. The latest amount for each user will be HK$5,000 and delivered in two tranches, compared with HK$10,000 for the previous round.
Chan also unveiled the “Happy Hong Kong” campaign, under which the government will work with the city’s two theme parks and other partners to organise a series of activities to boost domestic consumption.
The campaign – featuring a number of music and food carnivals targeting local residents – is seen as a bid to ensure better usage of the consumer vouchers.
The finance minister on Sunday said the city still had to boost future investment and strengthen economic recovery after accumulating a “fairly high” fiscal deficit over the past three years.
Follow our live blog below for the latest updates from the budget address.
https://www.scmp.com/news/hong-kong/hong-ko...u3pdvGLe1HDC60o
