|
Financial Secretary John Tsang says his second fiscal blueprint can restore people's confidence in overcoming challenges arising from the global financial turmoil.
He told reporters this afternoon the measures proposed in the budget will create job opportunities and stimulate the economy.
|
|
On the air: Financial Secretary John Tsang takes questions on his 2009-10 Budget during a television forum. |
|
Job creation
Mr Tsang said the 62,000 jobs and internship opportunities created through his proposals are in addition to the 60,000 job positions provided through the measures announced by the Chief Executive earlier.
Noting the internship programmes will help the commercial sector nurture talent and allow students to understand more about the working environment, he said the move will not encourage employers to lay off their existing staff and hire university students at lower wages.
Refuting criticism the budget offers no assistance to the disadvantaged, Mr Tsang said the total government spending for 2009-10 will exceed $300 billion, up 20% on the 2007-08 figure, with assistance catering to the needs of all sectors.
Appropriate estimate
Expecting the city's annual average economic growth rate will be 3.5% in real terms for the period 2010-13, Mr Tsang said the estimate was made after assessing the development in the US and Europe.
Noting Hong Kong is backed by the Mainland, he said if an economic recovery can be seen in the US and Europe by the end of this year, Hong Kong will be one of the markets to rebound first.
When asked whether the Government will consider a salary cut for senior officials and the civil service, Mr Tsang said the suggestion will have no significant impact on the city's economy, adding the public want the Government to launch practical and concrete measures, instead of making gestures.
Smoking control
At a joint television forum in the evening Mr Tsang said the hike in tobacco duty has been made in the interest of public health as a rising number of young people and women are smoking, which will burden medical services.
He said he will monitor the property market, adding there are 10,000 negative-asset cases - or 2% of overall mortgages - lower than the peak caused by the Asian financial crisis in 1997.
On why the proposed distribution of consumption vouchers was not considered, Mr Tsang said its effectiveness abroad has been varied and its benefits on the long-term economy are doubtful, so more study of the idea is needed.
Go To Top
|
