'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.
Plantos Agentic AI CFO Takes Aim At The SME Lending Gap
Planto, a leading financial technology company specialising in AI-driven banking solutions, officially unveiled its whi... Read more
Hong Kong And Indonesia Explore QR Payment Interoperability
Hong Kong and Indonesia are exploring QR payment interoperability between the two markets. The Hong Kong Monetary Autho... Read more
Who Raises The Alarm, If Synthetic Identity Fraud Has No Victim?
Synthetic identity fraud is one of the fastest-growing fraud types globally, where fraudsters fabricate a person who ne... Read more
SFC Hong Kong Strategic Action Plan Backs Citys Five-Year Plan
Hong Kong’s Securities and Futures Commission (SFC) has unveiled a strategic action plan. It supports the city’s Fi... Read more
Tencent Launches TenPayGo Payment App For Travellers In China
Tencent has launched TenPayGo, a payment app for overseas visitors to mainland China. ITHome (IT之家) reported that i... Read more
Deutsche Bank Deploys Agentic AI To Help Trace Client Wealth For KYC
Deutsche Bank Private Bank has launched an agentic AI tool to support Source of Wealth checks, part of its Know Your Cu... Read more



