Key takeaways from Budget 2026/27
發佈日期: 2026-02-25 19:49
TVB News
Financial Secretary Paul Chan delivered the 2026-27 Budget today, covering measures from new tax breaks to more support to the development of AI and the Northern Metropolis.
We begin our coverage tonight first with some key takeaways.
Unveiling his Budget on the ninth day of the Chinese New Year, Financial Secretary Paul Chan brought good news with the city's consolidated account for the fiscal year having turned from an estimated deficit of 67 billion dollars to a surplus of 2.9 billion dollars.
That's mainly buoyed by a substantial increase in stamp duty and profits tax income.
Fiscal reserves have rebounded to 650 billion dollars.
For the first time in some 40 years, Hong Kong will transfer income from the Exchange Fund -- which is used to ensure stability of Hong Kong dollars' exchange rate -- to the Capital Works Reserve Fund.
The ceiling for salaries tax and profits tax concessions will be doubled to 3,000 dollars.
The basic, child and dependent parent allowances will also be raised.
Apart from investing in the Northern Metropolis, the Budget also spotlights innotech development with the establishment of the Committee on AI+ and Industry Development Strategy.
The "One-for-One Replacement" Scheme for private electric vehicles -- in place for nearly eight years -- will come to an end.
On property market-related measures, the only major adjustment targets luxury homes priced above 100 million dollars.
Their stamp duty will be raised to 6.5 percent.
