Financial Secretary Paul Chan explained Budget to lawmakers

已複製連結

After delivering the 2026-2027 Budget yesterday, Financial Secretary Paul Chan went to the Legislative Council's Finance Committee to further explain the Budget. 

Some legislators requested the government to restore subsidies for education, social welfare, and healthcare if there is a surplus. Chan responded that spending should be precise.

This year, the government's finances have improved, recording a surplus of HK$2.9 billion, and the surplus is expected to expand over the next five years.

However, expenditures on education, social welfare, and healthcare will still need to be reduced year by year, and several legislators requested the Financial Secretary to provide relief.

Paul Chan said: “Considering the public finance situation, the Hong Kong government has needed to reduce expenditures by 2% annually in recent years.” 

Some legislators expressed concern about whether the government has considered the impact on the market from the end of the "one-for-one" electric vehicle program. 

Paul Chan said financial considerations are not the government’s focus, adding it will allocate more resources to accelerate the development of charging infrastructure for e-cars.

The Budget also increases various tax exemptions, but some legislators believe it is still insufficient.

Chan said that at this stage, the room for maneuver is relatively limited. To benefit the most people, he ultimately chose to adjust the overall tax exemption.