Paul Chan Coy On Chance Of More Spending Vouchers

Financial Secretary Paul Chan said on Sunday that it's too early to say whether he will give the public more consumption vouchers next year.

He said this year's vouchers have helped revive the economy, but this is not the only way to provide a boost.

Chan said the government has to be cautious with its finances.

"The economy's not been too well, and the same for the financial markets. For example, we've had less income from stamp duty and land sales. We expected a deficit this year of some HK$50 billion, the smaller income may cause a larger deficit," he told a Commercial Radio programme.

"We are doing our calculations and we will monitor the economic trends for the rest of the year. So we have to be cautious with our finances."

Chan said uncertainties such as geopolitical issues and the pandemic have hit the economy harder than expected, but the situation should improve in the second half of the year, from the negative growth in the first six months.

The finance chief also stressed that the government does not need to support the property market, saying officials don't think prices "will fall off a cliff", based on the data analysis they have conducted.