Budget promises bounty, but relief measures likely smaller
Rates and rent waivers, and tax rebate, among measures likely to be announced by John Tsang
Relief measures worth billions of dollars, including the waiver of property rates and public housing rents, as well as a tax rebate, are expected to be unveiled by Financial Secretary John Tsang Chun-wah in the current administration's first - and his sixth - budget next Wednesday.
But the scale of the relief is likely to be smaller than last year, with Tsang's economic forecast for the next financial year relatively optimistic and people less likely to face hardship.
A government source said the finance chief had decided on his options for relief measures but was still finalising the details.
"The government is likely to opt for a basket of relief measures that have been implemented before as this will not stir any controversy," the source said.
The government is likely to opt for a basket of relief measures that have been implemented before as this will not stir any controversy
A year ago, with an estimated HK$67 billion fiscal surplus to hand, Tsang presented an HK$80 billion basket of measures.
That included a salaries tax rebate of up to HK$12,000, an increase in the basic allowance from HK$108,000 to HK$120,000, and a HK$1,800 electricity subsidy for 2.5 million households.