Next month, the Financial Secretary, Paul Chan, will announce the new year's "Financial Budget", in which whether to distribute consumer coupons next year becomes one of the focuses.
CPA Australia, one of the world's largest professional accountancy bodies, has made recommendations for the new year's Budget, including a call for the government to distribute "enhanced dual e-vouchers".
Liu Mingyang, Co-Chairman of the Greater China Taxation Committee of CPA Australia, said that as one of the first organisations to initiate the issuance of consumer vouchers to support the local economy, I am delighted to see that the scheme has achieved more than expected results.
Association members said that the voucher scheme has helped many businesses by increasing customer spending and accelerating digital transformation.
"This year, we suggest that the government consider adding more money and issue "enhanced double consumption coupons" to protect the economy from the impact of the fifth wave of the epidemic by stimulating local consumption. Eligible Hong Kong residents will be distributed up to HK$3,000 of consumption vouchers. The second level of consumption vouchers is aimed at vulnerable groups such as low-income people, and can receive an additional subsidy of up to HK$3,000 to reduce their financial burden. The consumption vouchers The implementation of the plan is expected to continue to promote the popularization of digital payment technology in Hong Kong." Liu Mingyang said.
CPA Australia estimates that the Hong Kong SAR government will record a fiscal deficit of HK$37.1 billion in 2021-22, with fiscal reserves reaching HK$865 billion.
Estimates take into account projected income, expenses and adjustments for the current year.
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