Related News
HK budget offers few handouts
HONG Kong's government said its economy will shrink this year for the first time since the Asian financial crisis more than a decade ago, but offered few handouts to taxpayers in the face of the global economic crisis.
Having announced a series of fiscal stimulus steps in recent months, and with government finances under pressure as the financial center's economy contracts, Financial Secretary John Tsang was reluctant to spend a lot more, although he did announce a rebate of up to HK$6,000 (US$769) for 2008/09 income taxpayers.
"We are somewhat disappointed, it was not a bold budget," said Guy Ellis, a partner at PricewaterhouseCoopers. "Unlike in some other budgets around the world, it was not particularly aggressive. There was very little assistance for SMEs, which are a critical part of the economy here."
As taxpayers would not get the rebate until this time next year, there would be no immediate economic boost, he said.
Credit ratings firm Standard & Poor's said Hong Kong's creditworthiness would weaken as a contracting economy would depress government revenue, but it retained a stable outlook on its AA plus rating.
Tsang stressed the importance of maintaining competitiveness, announced a plan to sell government debt and confirmed it would amend tax laws to promote Islamic finance.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.