Chief Executive CY Leung says he has addressed the needs of different sectors of the community in his 2014 Policy Address delivered today.
Speaking at his policy address press conference, he said while helping the poor is normally achieved by direct subsidies, the middle class can benefit from improvements in the overall living environment and measures relating to education, healthcare and economic development.
By building on Hong Kong’s advantages to achieve sustained economic growth, resources are generated to solve long-standing problems, such as the ageing society, poverty, and environmental issues.
Mr Leung expressed confidence in Hong Kong’s economic outlook because of its position as the connector between the Mainland and other world markets.
He said the Government has the financial capability to realise his policy blueprint, and it is committed to making good use of public money, adding there is no plan for a tax increase.
Lawmakers and the education sector support the establishment of an Innovation & Technology Bureau, he said, adding he wants the agency to focus on innovation, science and technology so it becomes another driving economic force for Hong Kong.
Appearing in a televised forum on the Policy Address this evening, Mr Leung said the Government has complied with the principle of keeping expenditure within the limits of revenue in drawing up its budget, as stated in the Basic Law.
He said economic growth is of foremost importance, as a greater Gross Domestic Product base will allow the Government to deploy more resources on social expenditure to address society's different needs.
