'Uncle Paul' Launches Budget Consultation

The government on Sunday launched a public consultation on the upcoming budget, with the Financial Secretary Paul Chan promising to focus on propping up businesses, safeguarding jobs, and relieving people’s burden.

In a statement, Chan noted that Hong Kong had plunged into a “deep recession” after being hit by last year’s social unrest, then the Covid-19 pandemic.

“The overall economy, different industries and the general public have been under immense pressure. The short-term outlook continues to be full of challenges,” he said.

Chan said he will maintain a countercyclical fiscal policy “to ease the pressure of the economic downturn on the public, various industries and businesses, and to protect the economy. At the same time, I will focus on the future and get prepared for reviving our economy and promoting development after the epidemic.”

The Financial Secretary also said in a blog post that the pandemic had hit lower- and middle-income groups particularly hard.

He also expects another budget deficit for next year, while noting that the government is facing an unprecedented HK$300 billion shortfall for this year.

In the government’s information pack for the upcoming budget, it says “The Government is well aware that financial resources alone are not enough to tackle the challenges we are facing. However, making good use of fiscal reserves to support enterprises and relieve people's hardship is certainly in line with our people's expectations towards the Government under the current difficult environment.”

The administration also released a video, featuring Chan dressed in a white chef’s uniform, asking people to take part in the consultation.

"Preparing the budget is like cooking. How could I cook to your taste if I don't know what's on your mind?" he asked.

“Go to budget.gov.hk to share your view with Uncle Paul!”