The new "Budget" will be released next month. PricewaterhouseCoopers, one of the four major international accounting firms, predicts that the Hong Kong government will record a fiscal deficit of 109 billion yuan in the 2022/23 fiscal year, which is the first in the past 10 years. two high.
The bank estimates fiscal reserves at $848.1 billion as of March 31, 2023, equivalent to about 12 months of total government spending.
PricewaterhouseCoopers suggested that the government continue to distribute consumer vouchers in the new year, with an amount of about 3,000 to 5,000 yuan, distributed in three installments.
Wang Xiaoyan, tax partner of PricewaterhouseCoopers in Hong Kong, said that the customs clearance between the mainland and Hong Kong has boosted Hong Kong's economy, but at the same time many Hong Kong people travel abroad. He suggested that the government distribute a new round of consumer coupons to stimulate local consumption.
PricewaterhouseCoopers urges the government to consider providing tax and non-tax support for specific industries and talents, continue to provide 100% reduction in profits tax, salaries tax and personal assessment in 2022/23, and increase the ceiling to 2.5 per case ten thousand yuan.
Wang Jianhua, tax partner of PricewaterhouseCoopers Hong Kong, said that the government could consider reducing the stamp duty on stocks to the level before the epidemic, in line with Singapore.
He believes that there is no stamp duty in many regions at present. Under the current circumstances, Hong Kong should try to attract funds, otherwise, if "everything is fine", the actual income of the government will be even less.
Advocating infrastructure financing securitization is expected to "count" in Lantau tomorrow
The latest estimated value of the Lantau Tomorrow project is 580 billion yuan. Wang Jianhua said that the government should make a long-term plan for infrastructure financing and consider securitization of infrastructure financing and the establishment of an infrastructure fund. Asked whether the government’s financial situation is sufficient to cope with Lantau Tomorrow Regarding the plan, Wang Xiaoyan said that the government's financial situation has faced great challenges in the past two years, but it is estimated that a surplus will be recorded from 2023 to 2026. I believe the government will "calculate."
Deloitte Calls on the Budget to Reduce Stamp Duty on Stocks and Consider Distributing Consumer Vouchers Depending on Land Sales Revenue Year-on-year increase of 20% Chen Maobo: Consumer coupons have a short-term boost, but the retail market is still affected by the economic environment. National Day + consumer coupons |