[Financial Budget 2023/Electronic Consumer Vouchers/Pie Sugar/Chen Maobo/Tax Reduction/Deduction/Rate Reduction/Tax Allowance] The Financial Secretary Chen Maobo announced a new budget today (22nd), and many citizens expect it The government will distribute consumer coupons again, and it is expected that there is a better chance of retaining them. However, in the face of a fiscal deficit of more than 100 billion yuan, the amount will definitely not be reduced by half or more than the 10,000 yuan that was distributed last year to stimulate the consumer market under the epidemic.
As for the tax allowance for hiring foreign domestic helpers that many middle-class people hoped for, it is understood that this year "failed".
▼The color of the cover of Chen Maobo's budget over the years▼
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The fiscal deficit may be the second highest in ten years
Chen Maobo pointed out in mid-December last year that the background of preparing the budget this time is more difficult than last year, affected by geopolitics, supply chain disruption, high inflation, major central banks around the world vigorously tightening monetary policy, sharp rise in interest rates, and the impact of the continuous impact of the epidemic In 2022, the economy is expected to experience a negative growth of 3.2%, and the deficit in this fiscal year will reach more than 100 billion yuan.
In January, PricewaterhouseCoopers predicted that the Hong Kong government would record a fiscal deficit of 109 billion yuan in the 2022/23 fiscal year, the second highest fiscal deficit in the past ten years; the overall fiscal revenue during the period was 681 billion yuan, Spending was $790 billion.
▼Financial Budget.
Citizens pay attention to redistribution of consumer coupons and how to promote tourism▼
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In the past two years, a total of 15,000 yuan of electronic consumer coupons have been distributed
In the past two years, Chen Maobo has distributed electronic consumer coupons of 5,000 yuan and 10,000 yuan respectively.
However, facing a deficit of 100 billion yuan and land sales income not as expected, Chen Maobo has been conservative in distributing consumer coupons in recent months.
Budget｜New Democratic Party, Ernst & Young Accounting Firm Opposition Consumer Coupons Concerned about Government Deficit 85% of Paitang hopes to have electricity subsidy consumption vouchers to come second
Political parties generally demand another 5,000 to 10,000 yuan in consumer coupons
However, looking at the major political parties in the Legislative Council, except for the New Democratic Party, which stated that it does not support the distribution of consumer coupons, other political parties with seats are calling for redistribution. The amount generally requires 5,000 yuan to 10,000 yuan, and the DAB in the party requires at least 5,000 yuan. ; while the non-seat Democratic Party demanded as much as 15,000 yuan.
Based on the population of 7.4 million in Hong Kong, the total amount distributed will range from about HK$40 billion to HK$100 billion.
As for the cross-party request to introduce a tax deduction for hiring foreign domestic helpers to relieve the pressure on the middle class, and proposed a tax deduction of at least 55,000 yuan, it is understood that this has not been included in this budget.
▼August 7, 2022 The market situation of the first round of issuance of consumer coupons in the second phase of 2022▼
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▼August 7, 2022 The market situation of the first round of issuance of consumer coupons in the second phase of 2022▼
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Budget｜Grassroots couples earn only thousands of consumer vouchers a month and become a life-saving grass wife: Directly help consumer vouchers｜The second phase of 5,000 yuan can no longer be received with Octopus after 2.28, and the latest $1,000 is 4.16
Whether or not to increase tobacco tax and gaming tax becomes the focus of today
Another issue affecting people's livelihood is the tobacco tax increase, which will become the focus again this year.
The government proposes to reduce the smoking rate to 7.8% by 2025. The Committee on Smoking and Health pointed out that the tobacco tax has not been adjusted significantly in the past ten years, and urged the government to increase the tobacco tax from the current price of about 59 yuan per pack of cigarettes to 100 yuan, and Re-increase annually.
The gaming tax that is also the focus of this time, the New Democratic Party has demanded an increase, raising the football game betting tax rate from 50% to 80%; horse racing betting tax rate from 72.5% to 75% to 75% to 80%, whether Chen Maobo accepts today’s announcement .
▼Financial Budget.
Smokers are concerned about whether the tobacco tax will be increased▼
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▼Financial Budget.
Whether to increase the gaming tax or not becomes the focus ▼
In addition, because the TCM hospital is expected to be completed in 2025, it is reported that the government will allocate 500 million yuan to the "Traditional Chinese Medicine Development Fund" to enhance the capabilities of the TCM industry, as well as clinical training and research.
According to another report, Chen Maobo will promote the development of green technology finance.
▼Financial Budget.
On June 28, 2021, the opening ceremony of the Traditional Chinese Medicine Hospital▼
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▼Surpluses and deficits of the Budgets over the years after reunification▼
Budget｜Wednesday’s special meeting of the guild will be closed tomorrow to hear a briefing by Chen Maobo. Budget｜Can foreign domestic helpers deduct at least 55,000 in taxes?
Cross-party support for the budget plan to relieve the pressure on the middle class｜Chen Jiaqiang: There is little opportunity to increase taxes, but to reduce "distribution of money" to balance expenditures｜The Chinese People's Political Consultative Conference petitioned for the establishment of grassroots living allowances and reintroduced the "N No Subsidy" budget ｜Can the government distribute more money?
Xu Zhengyu: The economy is improving and the easing policy must be tightened
When will the 2023-24 Budget be delivered?
The 2023-24 Budget will be presented by Financial Secretary Paul Chan Mo-po on the morning of February 22, 2023...For details, please see.
The 2023 Budget will distribute consumer vouchers again? What is the effect of the past two distributions of consumer vouchers?
CPA Australia pointed out that "double electronic consumption vouchers" can be distributed to eligible Hong Kong residents; ACCA Hong Kong branch also stated that it may consider distributing 10,000 yuan electronic consumption vouchers to each eligible person in Hong Kong.
The "consumer coupons" were distributed twice earlier, and a university in Hong Kong conducted research and released the results. It was found that the most visited shopping venues were... For details of the research, please see.