The policy initiatives and measures outlined in the 2018-19 Budget fully embrace the new style of governance, the new roles of the Government and the new fiscal philosophy Chief Executive Carrie Lam has set for the administration.

In a statement today, the Chief Executive's Office said the Budget will provide the Government with financial resources to implement the initiatives of the Chief Executive's inaugural Policy Address.

The Budget has also introduced additional policy initiatives with long-term effects, offering one-off relief measures and earmarking another $388 billion for further investing in the future and enhancing public services.

The Chief Executive said she is grateful to the Financial Secretary for earmarking an extra $2 billion per year in the Budget for education to boost her commitment in her Election Manifesto on new education resources to $7 billion.

Noting the extra funding will enable the Government to accommodate recommendations from the various task forces set up to examine different aspects of quality education, the statement said stakeholders in the education sector will be engaged to prioritise the use of the additional resources.

The $2 billion in recurrent expenditure is in addition to a range of education measures contained in the Budget that cover school social work services at primary schools and kindergartens, gifted and continuing education, and matching grants for publicly funded universities.

The Budget also comprises one-off relief measures to provide grants for needy students and to meet students' examination fees for the 2019 Diploma of Secondary Education Examination.

The statement said these initiatives echo the Chief Executive's belief the Government's education expenditure is the most significant investment for the future.

It also said the Financial Secretary, while ensuring the health of public finances, has adopted forward-looking and strategic fiscal management principles in optimising the use of the surplus to invest for Hong Kong and relieve the public's burdens.

On healthcare services, the Budget has increased recurrent funding to the Hospital Authority and set aside $300 billion to support the second 10-year hospital development plan, improve the Department of Health's clinic facilities, and upgrade and increase healthcare teaching facilities.

This, together with the $200 billion earmarked earlier for hospital development, will bring the total capital commitment to $500 billion.

The statement added Mrs Lam is confident the 2018-19 Budget will inject new impetus into Hong Kong's economy and reflects a conscientious effort to address the people's needs.

Mrs Lam urged Legislative Councillors and the public to support the proposals to facilitate their early implementation.