Legco Approves 2.5pc Pay Rise For Civil Servants

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

"); });
2022-07-22 HKT 17:41
Members of the Legislative Council's finance committee on Friday approved a 2.5 percent salary increase for all civil servants.
Civil Service Secretary Ingrid Yeung told legislators the administration needed to handle salary adjustments carefully this year, noting uncertainty in the economy and that the government expects a HK$56 billion deficit in the current financial year.
Yeung stressed that the Executive Council had considered several factors before coming to the across-the-board pay rise proposal.
The civil service chief said in the future, other information could be released at the same time as the pay trend survey results, such as the state of the economy and changes in the cost of living, so people don't focus solely on the survey findings.
The government-appointed Pay Trend Survey Committee had earlier suggested salary increases of 2.04 percent for junior civil servants, 4.55 percent for middle-ranking workers and 7.26 percent for senior staff.
During the meeting, legislator Chan Siu-hung asked whether the government could consider giving extra pay rises to civil servants who perform well, in order to incentivise them.
In response, Yeung said the work of civil servants is diverse and may not be measurable, for example law enforcement or those who uphold procedural fairness. She questioned whether giving public servants bonuses might affect their original purpose of serving the people.
Officials expect civil servants to receive the adjusted pay from next month, and it will be backdated to April 1.
TOPPAN Edge Becomes Japans First Qualified VLEI Issuer
The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more
SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more
Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin
South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more
China Funds Research On Stablecoins And Cross-Border Oversight
China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more
XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership
XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more
Brinc Launches VentureVerse Through Acquisition Of OG Club
Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more