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Expenditure will benefit the public

October 11, 2017

Government money should be spent on areas that benefit the public.


Financial Secretary Paul Chan made the statement today after Chief Executive Carrie Lam delivered her Policy Address at the Legislative Council.


Mr Chan said the policy blueprint outlined a wide range of initiatives covering the economy, housing, education, healthcare, youth and elderly services.


He said while the Government must exercise fiscal prudence, it should spend money on suitable areas to address the needs of the community and to better serve the public.


He said a rough, medium-term estimate assessing the impact of the policy initiatives on the Government's financial position for the next five years has been done.


"We are confident that given the current economic situation, the medium-term income and expenditure of the Government remains quite healthy. And we have very substantial fiscal reserves which will enable us to weather through any sudden or substantial changes in external environments."


The Government will be able to launch initiatives to stabilise the economy if any unforeseen circumstances happen, he added.


The details of the expenditure required for implementing the initiatives will be announced in the next Budget.

The Chief Executive's 2017 Policy Address