February 04, 2012

Financial Secretary John Tsang has vowed to continue fighting property market speculation.

Speaking on a radio programme today, Mr Tsang said the Government has implemented measures to stabilise property prices, which have dropped 5% since the middle of last year.
 
The Government will continue the present land policy by increasing land supply and imposing the Special Stamp Duty, he said.
 
Meanwhile, Mr Tsang said most public expenditure in the coming financial year will be in education, medical services and social welfare.
 
He said he was delighted to see the speedy recovery of Hong Kong by the unexpected revenue increase in salaries and profits taxes last year. Revenue from land sales and a reduction in Government spending also contributed to the $60 billion surplus.