Groups Make Pre-budget Appeals To Government

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2019-02-06 HKT 13:16

Share this story

facebook

  • Groups protested outside government headquarters to ask for more labour and welfare spending in the coming budget. Photo: RTHK

    Groups protested outside government headquarters to ask for more labour and welfare spending in the coming budget. Photo: RTHK

Various groups on Wednesday staged demonstrations outside the government headquarters at Tamar, to demand greater spending on labour and welfare issues.

The financial secretary, Paul Chan, will deliver his budget speech at the Legislative Council on February 27.

The pro-government Federation of Trade Unions called on Chan to push forward plans to scrap the controversial MPF offsetting mechanism as soon as possible.

The mechanism allows employers to use a portion of the contribution they make to their employees’ Mandatory Provident Fund accounts to cover severance or long-service payments.

The government plan involves cushioning the blow for employers by subsiding companies to the tune of HK$29 billion over 25 years.

At a separate demonstration, the opposition Association for Democracy and People's Livelihood accused the government of inappropriately allocating resources, and urged Chan to make good use of the fiscal surplus.

They also criticised the government over a HK$4,000 handout to those who missed on other budget sweeteners last year, saying arrangements had been chaotic.

At Government House, Labour Party protesters demanded the administration take back the Fanling Golf Course so it can be used for housing.

RECENT NEWS

OCBC Plans Hong Kong Wealth Expansion With Up To 50 New Bankers

OCBC is expending its wealth management team in Hong Kong by 30% this year to meet growing regional demand for investme... Read more

Hana Financial To Acquire US$669M Stake In Dunamu, Deepening Crypto Push

Hana Financial Group has agreed to acquire a 6.55% stake in digital asset operator Dunamu. The transaction is valued at... Read more

Reap And TerraPay Partner To Expand Cross-Border Payouts Via Local Payment Rails

Reap has partnered with TerraPay to expand its cross-border payout network using domestic clearing systems. The integra... Read more

Tencent Fintech And Cloud Services Lift Q1 2026 Revenue 9% To US$8.68 Billion

Tencent reported a 9% increase in revenue from its fintech and business services division for the first quarter of 2026... Read more

Ant Group Profit Falls An Estimated 79% As AI And Payments Spending Rises

Ant Group saw an estimated 79% decline in quarterly profit as the company accelerates its spending on AI, large languag... Read more

Alibabas Cloud Revenue Jumps 40% As AI Investments Pressure Profitability

Alibaba Group has released its financial results for the quarter and fiscal year ending 31 March 2026, reporting a 3% a... Read more