Caring society: Chief Secretary Henry Tang describes the budget as caring, pragmatic and proactive.

Chief Executive Donald Tsang says the 2010-11 Budget will consolidate Hong Kong's economic recovery and contribute to long-term economic growth, while Chief Secretary Henry Tang described it as caring, pragmatic and proactive.

They urged the Legislative Council and the general public to support the budget, noting it has been formulated carefully and responsibly, balancing Hong Kong's immediate and long-term needs.

Positive response

Mr Tsang backed the one-off relief measures, saying the budget responds positively to the immediate concerns about people's livelihood, with priority accorded to funding the most pressing needs in the community.

"Support for the elderly, persons with disabilities, victims of domestic violence, mental patients, and job seekers and school children in need are areas deserving priority treatment. The Financial Secretary has thus allocated additional resources to help them."

He agreed it is essential to invest for the future to sustain long-term development. The budget has, besides further developing established and new economic pillars, made proper commitments to education, medical services, arts and cultural activities, and the sports and environment sectors, to enhance the city's competitiveness.

Noting initiatives have been proposed to help ensure stable development of the property market and proper building repairs and maintenance, Mr Tsang said the Government will continue watching the real estate market and, where necessary, introduce further measures to address difficulties in home purchases and the risk of a property bubble.

Pragmatic & proactive

Sharing his views, Mr Tang said the proposed substantial investment in various areas in the budget will help improve the city's human resources and enhance social mobility to serve Hong Kong's long-term interests.

It responds positively to public appeals for upgrading people's livelihood through a series of improvement and relief measures to support and help those in need at this early stage of economic recovery.

"It is also pragmatic and proactive by taking steps to prevent the risk of an asset bubble and put our economic recovery on solid ground, while observing the principles of prudent financial management and 'small government, big market'," Mr Tang said.