CENTRAL: On February 28, the Financial Secretary of Hong Kong released the 2018-2019 Budget, confirming the government’s new fiscal policy and budget strategies for the coming financial year. Hong Kong authorities say the budget’s primary goals are to create a more diversified economy, invest for the future, and address the needs of the people.
The budget featured four main themes: “a diversified economy”, “caring and sharing”, “enhancing livability”, and “manpower training”. Critics, however, point to the insufficient attention given to quality of life issues, such as housing affordability and income inequality, and the overall effort to transform the city’s economy. Many observers have said the budget lacked ambition.hese measures include aiding SMEs to extend the scope of their business to mainland China and ASEAN along the Belt & Road and Greater Bay Area, injecting HK$1 billion to strengthen the creative industry by training youth and helping startups, promoting green business, and launching a three-year pilot bond scheme to att
The government will continue its effort to manage environmental problems. Enterprises investing in eligible energy efficient building installations and renewable energy devices can have their capital expenditures fully deducted within one year, for which the Environment Bureau will provide more details.
In addition, to promote the use of electric vehicles, the “one-for-one replacement” scheme allows tax concessions up to HK$250,000 when traditional car owners purchase new private electric vehicles.
