Financial Secretary addresses concerns on Budget at Legco
發佈日期: 2026-02-26 21:49
TVB News
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 government spending should be precise.
The government's finances saw a noticeable improvement this year recording a consolidated surplus of 2.9 billion dollars, with the surplus expected to expand even further over the next five years.
However, expenditures on education, social welfare and healthcare will still need to be reduced year by year, while several legislators requested the FS to provide relief measures.
I speak on behalf of the beneficiaries of government spending and I am left in confusion why there is a cut of our resources.
You said the government has to make use of its government reserve.
What if the reserve is depleted?
We have taken into account on our fiscal position.
Therefore, in the recent few years, there is the need to cut 2 percent every year.
When it comes to social welfare organisations, the same principle applies.
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.
Chan said financial considerations are not the government's focus, adding it will allocate more resources to accelerate the development of e-vehicle charging infrastructure.
Though the Budget included various tax exemptions, 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, Chan said he chose to adjust the overall tax exemption.
