Hong Kong Financial Secretary Paul Chan Mo-po has come under pressure to prudently manage the city’s finances after it recorded a HK$87.2 billion (US$11.2 billion) deficit, with pundits hoping the budget revealed on Wednesday can balance the books.The Post looks at Chan’s game plan to cut back the government’s spending and increase its revenue sources.New or increased chargesThe city’s air passenger departure tax will be increased from HK$120 to HK$200 in October. The move is likely to boost…
Hong Kong Financial Secretary Paul Chan Mo-po has come under pressure to prudently manage the city’s finances after it recorded a HK$87.2 billion (US$11.2 billion) deficit, with pundits hoping the budget revealed on Wednesday can balance the books.The Post looks at Chan’s game plan to cut back the government’s spending and increase its revenue sources.New or increased chargesThe city’s air passenger departure tax will be increased from HK$120 to HK$200 in October. The move is likely to boost… South China Morning Post
