Budget to reflect public views: CE

December 17, 2024

Chief Executive John Lee:

Regarding the Budget, the consultation started on Sunday, and a lot of advice and opinions have already been provided. The Financial Secretary has been doing this Budget consultation for a number of years. And he will of course be taking serious attention to all the opinions and suggestions that are raised, and examine the pros and cons, and also the reasonings and the thinking behind, so as to ensure that the eventual Budget will satisfy the overall need of Hong Kong.

Yes, we have a budget deficit, but already we have said that we will try to increase income and also to reduce expenditure as well, and to promote economic growth, so that businesses will make more money, as a result of which the Government will also have more income.

So I am sure that the Financial Secretary will be paying heed to the different opinions and will analyse all the opinions very objectively and thoroughly to ensure that the best Budget is prepared for Hong Kong.

The resumption of multiple visits for visitors from Shenzhen is seeing a very good return of tourists from the Mainland, particularly from Shenzhen, and we can see the rise in figures of tourists, particularly over the weekend, which regularly sees an increase of between 20% to 30%. I think this trend will continue, particularly when we will have Christmas and New Year coming very soon, and we will have a firework display for the countdown. So we have to get fully prepared for this opportunity.

(To watch the media session with sign language interpretation, click here.)

Chief Executive John Lee said today that Financial Secretary Paul Chan will consider all the opinions gathered by public consultation as he prepares next year’s Budget.

Ahead of the Executive Council meeting this morning, Mr Lee said that a lot of advice and opinions had already been offered since Sunday, when the public consultation on next year's Budget began.

He said the Financial Secretary would give serious attention to all the opinions received.

“The Financial Secretary has been doing this Budget consultation for a number of years. And he will of course be taking serious attention to all the opinions and suggestions that are raised, and examine the pros and cons, and also the reasonings and the thinking behind, so as to ensure that the eventual Budget will satisfy the overall need of Hong Kong.”

In view of Hong Kong's budget deficit, Mr Lee said he believed Mr Chan will devise the best Budget to meet Hong Kong's needs after taking all of the opinions into consideration.

“Yes, we have a budget deficit, but already we have said that we will try to increase income and also to reduce expenditure as well, and to promote economic growth, so that businesses will make more money, as a result of which the Government will also have more income.

“So I am sure that the Financial Secretary will be paying heed to the different opinions and will analyse all the opinions very objectively and thoroughly to ensure that the best Budget is prepared for Hong Kong.”

As regards expectations for tourist arrivals, Mr Lee said the resumption of multiple-entry permits for visitors from Shenzhen has resulted in an increase in visitors from the Mainland, and he thinks this trend will continue.

“We can see the rise in figures of tourists, particularly over the weekend, which regularly sees an increase of between 20% to 30%. I think this trend will continue, particularly when we will have Christmas and New Year coming very soon, and we will have a firework display for the countdown.”

He highlighted that different sectors have rolled out various measures, adding that golden opportunities lie in wait for businesses to grasp.