The Legislative Council today (30th) passed the "Supplementary Appropriation (2021-2022) Bill", which involves additional expenditure in the last financial year, totaling about $35.1 billion.
Xie Weiquan: The Treasury is expected to experience a deficit to promote a diversified financing plan
According to the data, most of the additional funds of 35.1 billion yuan came from the Office of the Chief Secretary for Administration and the Office of the Financial Secretary, totaling more than 26.87 billion yuan, to "cope with the additional cash flow injected into the "Anti-epidemic and Anti-epidemic Fund" ”, accounting for three-quarters of the entire supplementary appropriation.
Xie Weiquan, a member of the planning and construction industry, pointed out that in the past, the opposition often linked additional funds to "government washing feet and not wiping their feet" and "government overspending", but in fact it is not. It is "buried", but agrees that the government's final expenditure is higher than the original budget, which deserves social attention.
He pointed out that the treasury is expected to be in deficit. With internal and external economic factors, there will be more challenges in the future, especially in Hong Kong, which will require a large number of construction projects in the future. He urged the government to formulate a diversified financing plan to maintain the sustainability of infrastructure revenue and expenditure.
Di Zhiyuan from the social welfare sector reiterated that the government's 1% reduction in funding for social welfare organizations disappointed the industry and urged the government to make up for it in the next budget.
The Secretary for Financial Services and the Treasury, Xu Zhengyu, is in isolation due to his diagnosis. The acting director, Chen Haolian, said that, as members said, the relevant bills are technical amendments.
He pointed out that the Government will continue to listen to the opinions of Members and various stakeholders after noticing Members' proposals on future budgets.
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