Last year's "Budget" launched electronic consumer coupons. Financial Secretary Chen Maobo revealed in his blog today (16th) that some people at the consultation meeting in recent months suggested that they continue to be distributed. There are also objections that the amount involved is huge, and public resources should be more Targeted use; some people hope to "distribute candy", while others think that measures such as tax rebates and rates rebates only benefit the group with higher income and assets, which may create an alternative inequality.
Chen Maobo pointed out that once any relief measures "strive to be precise" and focus on a certain group of target audiences, it is easy to cause a backlash due to "differential treatment"; on the contrary, if the measures achieve "universal benefits", they may also be regarded as vulnerable groups. Insufficient care.
He believes that if we can achieve better results within a more acceptable range, we need better balance, better explanation, and everyone's understanding.
(Photo from Chen Maobo's blog)
In the article, Chen Maobo said that Hong Kong's economy benefited from the strong export performance, the local epidemic situation was generally stable and under control, and the momentum of domestic demand continued to recover. In addition, the issuance of electronic consumer coupons has recorded a considerable increase in private consumption expenditure and private investment. Significant growth has also contributed to the economic growth last year. Growth reached 6.4%, ending the recession of the previous two years, and the unemployment rate continued to fall to 4.1%.
The original estimated deficit was as high as 180 billion yuan, and the land sales and stamp duty revenue exceeded expectations and eased pressure
On the fiscal front, in the upcoming 2021-22 fiscal year, the budget deficit was originally estimated at $101.6 billion. If factors such as debt issuance, housing reserves and the reversal of future fund investment returns are deducted, the deficit will be as high as $180 billion.
However, thanks to the steady recovery of the economy and the positive outlook for the property market, the land sales income and the amount of land premium paid by developers were much higher than expected. The booming property market and stock market also made the property and stock stamp duty income better than expected. , these revenues have significantly eased this year's deficit pressure.
Chen Maobo: Retain certain financial strength to ensure financial stability
He pointed out that the uncertainty brought about by the continuous and repeated epidemic has brought pressure on the overall economy, society and people's livelihood. To bail out the citizens and provide support for SMEs; however, in the face of the complex and ever-changing international political and economic landscape, it is necessary to continue to abide by the principle of prudent financial management, and to maintain a certain amount of financial strength to ensure financial stability, and Cope with known and unknown situations and needs.
In the face of the complex and ever-changing international political and economic landscape, it is necessary to continue to abide by the principle of prudent financial management and the principle of doing what should be done, and retain a certain amount of financial strength to ensure our financial stability and cope with known and unknown situations and needs.
Financial Secretary Paul Chan
Chen Maobo will publish a new Budget on the 23rd of next month.
(File photo / Photo by Liang Pengwei)
Hope for a new Budget to achieve "feasible policies and resources to keep up"
A new "Financial Budget" will be released on the 23rd of next month. Chen Maobo used the electronic consumer coupons launched last year as an example. Since the preliminary statistics plan was launched, the four electronic payment tool operators have added a total of about 4.7 million personal accounts, and There were approximately 96,000 business accounts, and the volume of electronic payment transactions also rose significantly.
Although some people suggest to continue distributing electronic consumer coupons, others believe that people have reduced their consumption outside the home during the epidemic, which makes consumer coupons limited.
He pointed out that the proposal will be brought back to the relevant policy bureau for consideration and review, hoping to achieve "practical policies and resources to keep up."
Many friends suggested that electronic consumer coupons should continue to be distributed in the next budget, but there are also voices against it, arguing that the amount involved is huge and public resources should be used in a more targeted manner; Coupons are limited.
Financial Secretary Paul Chan
Relief "strives for precision" is prone to "differential treatment", which generally benefits and will be accused of insufficient care for the disadvantaged
He emphasized that once any relief measures "strive to be precise" and focus on a certain group of target audiences, it is easy to cause a backlash due to "differential treatment"; on the contrary, if the measures achieve "universal benefits", they may also be seen as targeting vulnerable groups. Insufficient care.
Chen Maobo also appealed that the public must work together to fully cooperate with the epidemic prevention and control work, strive to achieve the goal of dynamic clearing, and create favorable conditions for the restoration of customs clearance with the mainland, so that the economy can recover to the greatest extent in a safe environment, and citizens can Life and travel are not disturbed by the epidemic.
▼The second phase of October 1st, 2021 consumption coupons will be distributed in the new city square, and many citizens will consume it▼
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