Chief Executive CY Leung says the Government must provide more opportunities for people from all walks of life to enhance their livelihood, and must prevent the middle class from downward mobility.
Speaking on a joint radio phone-in programme on his Policy Address today, Mr Leung said that downward mobility includes declining income and living standards.
He said the Government’s commitments to the middle class include providing career-development opportunities and introducing housing policies that ensure their living environment will not worsen.
The Government is confident it can meet the housing target of 470,000 units in the next decade. While the process of securing land in previous years was slow, he said, there is now satisfactory progress in changing land use and land sales.
Mr Leung said Hong Kong needs a broader industrial base and should not rely only on financial and real estate industries. His Policy Address recommends fostering diverse industries and promoting their robust growth. He is confident the industries mentioned in his agenda - including tourism, professional services, logistics, maritime services, dispute-resolution services, creative industries and innovation and technology industries - can flourish, he said.
He stressed that money should be spent on helping those in need, boosting Hong Kong’s competitiveness and nurturing talent. The Government is still adhering to the fiscal discipline of keeping expenditure within the limits of its revenues, and can afford the costs of the newly proposed policies, he added.
