The next year's budget will be released on Wednesday (22nd). The former Secretary of Financial Services and the Treasury, Chen Jiaqiang, predicts that there is little chance of raising taxes in the budget. payouts” to balance expenses.
Chen Jiaqiang believes that "distribution of money" should be reduced (data picture)
Chen Jiaqiang said in an interview with the TV station "Now" today (19th) that the public will understand that the catering industry has come to a standstill due to the impact of the epidemic.
As for the redistribution of consumer coupons, he believes that we should now focus on economic reconstruction after the epidemic, and that spending items such as "distribution of money" should be reduced to make some balance.
Asked whether the government needs to increase taxes to increase treasury revenue?
Chen Jiaqiang expects that the chance of success is not great, even if the tax increase is not large, it will have an impact, so he does not recommend tax increase.
He pointed out that the government still has the ability to maintain the current expenditure, but it must control expenditure in a balanced way and use the money for economic development and people's livelihood.
As for how to help Hong Kong develop its economy, Chen Jiaqiang believes that in addition to attracting high-end talents, the authorities can also start with young people, making Hong Kong an international and dynamic place, and attracting them to settle down.
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