'Balanced Budget' Fails To Satisfy Key Govt Allies
                                            
                    "); jQuery("#212 h3").html("

"); });
2019-02-27 HKT 15:29
The budget evoked criticism from some key allies of the government on Wednesday, while an adviser to the Carrie Lam administration hailed the financial secretary for presenting a "balanced" financial blueprint for the coming year.
Executive councillor CK Chow praised the budget as being “balanced”, saying it was important that the government did not cut down its spending despite the uncertain economic outlook.
Chow said Chan's spending plan was appropriate, as public money should be spent on the people in times of adversity.
But the pro-establishment New People's Party said the budget is not "creative" enough.
The party said it is also disappointed at the lack of concrete proposals on how Hong Kong can take advantage of the Greater Bay Area initiative.
Referring to the measures announced to help public hospitals, the party's chairwoman, Regina Ip, said as usual the government is responding by simply throwing money at them.
"If hours are too long and not tolerable, doctors and nurses will continue to flee even if you increase the pay and allowances," she said.
The pro-government Federation of Trade Unions was also critical of the budget, saying it was "plain" and devoid of any highlights. FTU lawmaker Alice Mak said the general public will not see any benefit from this budget.
The pro-Beijing DAB party also slammed the budget for not doing enough to improve welfare.
Its chairwoman, Starry Lee, said the extra HK$400 million set aside for the Hospital Authority to buy expensive drugs is not sufficient. While she acknowledged there are initiatives for various core and new industries, Lee said the effectiveness remains to be seen.
The Civic Party, meanwhile, slammed the budget for “lacking in vision”. It said although the financial secretary listed out issues facing Hong Kong’s economy, he offered no solutions to solve them.
Jean-Louis Tse Appointed CEO Of FinTech Association Of Hong Kong
The FinTech Association of Hong Kong (FTAHK) has appointed Jean-Louis Tse as its new CEO. Jean-Louis brings over 20 yea... Read more
XTransfer To Present Compliance And SME Solutions At Hong Kong Fintech Week
XTransfer will participate in Hong Kong Fintech Week 2025 as the event’s Official Fintech Partner. This marks the sec... Read more
Hang Seng E-HKD Pilots Reveal Gains In SME Cash Flow And Efficiency
Hang Seng Bank has completed two use cases in Phase 2 of the e-HKD Pilot Programme under the Hong Kong Monetary Authori... Read more
FundPark Raises US$71M After Surpassing US$6B In ECommerce Financing
FundPark, a Hong Kong-based technology company providing financing solutions for eCommerce businesses, has raised US$71... Read more
Hang Seng Bank Launches “JustPay” With Voice Recording Payment Feature
Hang Seng Bank has introduced “JustPay”, an industry-first payment experience featuring a voice recording function.... Read more
How To Build An AI First Bank | Malaysia Banking CxO Roundtable
AI is changing banking faster than ever, from how banks detect fraud to how customers interact with apps. In this round... Read more
                                                                                            
                                                                                    


