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Hong Kong budget 2025-26

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Hong Kong budget 2025-26
Hong Kong finance chief Paul Chan Mo-po delivered his budget speech on February 26 amid a weakened economic environment and calls to ease the city's deficit.
2024-25
Hong Kong Budget 2024-25
2023-24
Hong Kong Budget 2023-24
A visitor looks out over Hong Kong’s central business district on February 18. The city is facing its toughest fiscal test in three decades following a three-year run of substantial deficits. Photo: AFP
Hong Kong economy

Opinion | How Hong Kong can dig itself out of recurring deficits

As the city borrows money to fund development, it risks depleting its savings unless policymakers act decisively to find new sources of revenue.

Hong Kong economy

Letters | Hong Kong could take leaf out of US’ cost-cutting book

Hong Kong

Letters | Hong Kong mustn’t balance its books on the backs of the most vulnerable

Hong Kong transport

No plans to split elderly into groups for HK$2 transport fare: Hong Kong minister

Chris Sun says concessionary fare will continue to be offered to residents aged 60 and above even as data shows younger users are costing taxpayers more.

The scheme currently provides a flat fare of HK$2 for those aged 60 or above. Photo: Edmond So
Paul Chan

Most see cost-cutting moves as inadequate in ‘mild’ Hong Kong budget: survey

Survey respondents also divided on adjustments to HK$2 fare concession scheme.

Savings from Hong Kong fare scheme revamp ‘insignificant’: Legco research arm

Legislative Council Secretariat also says decision to freeze civil servant pay expected to save about HK$8.7 billion in coming financial year.

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Hong Kong

Opinion | Hong Kong seniors are an economic force, not a budget write-off

Investing in their well-being and engagement could transform this demographic into a driving force for Hong Kong’s economy.

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Senior citizens shopping on the last day of the Hong Kong Brands & Products Expo at Victoria Park in Causeway Bay on January 6. Photo: Sam Tsang
Hong Kong economy

Opinion | Hong Kong must avoid jumping on AI bandwagon and focus on what it does best

Amid budget constraints, the city should gear research and innovation towards sectors where it has an advantage rather than follow trends.

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Hong Kong transport

Opinion | Not too late to correct Carrie Lam’s mistake with HK$2 fare subsidy

Policy errors made by previous leaders need to be acknowledged, so the city can course-correct and achieve savings immediately.

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Hong Kong

Letters | Hong Kong needs a complete review of government structure and efficiency

Readers discuss how the civil service could be streamlined, and the Northern Metropolis plan.

A man walks past the government headquarters in Admiralty on February 22. Edmond So
Hong Kong

Opinion | Hong Kong must find the courage to reform its public finances

Reliance on salary freezes and workforce reductions has become a recurring theme. But they fail to address the public sector’s inefficiencies.

The Hong Kong government’s headquarters in Admiralty on February 22. Photo: Edmond So
Hong Kong

Exclusive | ‘Aircraft processing plant planned for Hong Kong’s Northern Metropolis, airport’

First-of-its-kind facility in Asia expected to generate thousands of jobs and open up a lucrative industry in the city.

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Hong Kong housing

Hong Kong rejects US credit rating agency’s report on property market oversupply

Report by S&P Global Ratings says excess of office space the ‘most acute’ problem facing sector.

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Hong Kong

Letters | Hong Kong needs a smarter approach to water management

Readers discuss the importance of digital water systems, and the middle-class reaction to the financial secretary’s budget speech.

Hikers visit Lau Shui Heung reservoir at Sha Tau Kok on December 26, 2024. Photo: Sam Tsang

Hong Kong social welfare groups fear budget cuts will hurt service

Welfare chief Chris Sun meets representatives over 7 per cent funding cut, which has stirred concerns over service quality and manpower retention.

A tenant in a subdivided flat in Sham Shui Po. Lawmaker Tik-Chi-yuen stressed that funding cuts would not be able to create the solid safety net the city needed. Photo: Eugene Lee
Hong Kong economy

Western countries would envy Hong Kong’s financial position, experts say

Economists highlight city’s huge reserves at a panel discussion at Post’s Redefining Hong Kong Series 2025: Budget Edition forum.

Hong Kong economy

Financial stability above all: Paul Chan on tackling geopolitical tensions

Hong Kong will press on with Northern Metropolis project and push for development of AI, finance chief Paul Chan pledges at Post budget forum.

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Paul Chan

Opinion | Why Hong Kong’s austere budget is hard for the public to swallow

With the bulk of cost-cutting aimed at the elderly, children, families and education, for the government to exempt itself is not a good look.

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Hong Kong’s Financial Secretary Paul Chan Mo-po holds a press conference at the government headquarters after delivering the 2025-26 budget on February 26. Photo: Elson Li
Legislative Council of Hong Kong

Opinion | Hong Kong civil service needs to be hauled into the 21st century

The financial secretary is heeding calls to downsize and cut costs, but should go further by embracing AI more quickly.

My Take

My Take | No guaranteed win when it comes to legalised gambling on sport

The government is exploring legalising betting on basketball. But the plan has reignited debate about the impact on society – and rightly so.

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Hong Kong’s proposed cross-border car fee won’t harm integration: Paul Chan

Finance minister says suggested charge will only affect 15 per cent of travellers and government is open to discussion on fee amount.

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The financer minister says it is reasonable for the government to recoup some of its costs after investing in building and maintaining border infrastructure. Photo: Eugene Lee
Hong Kong economy

Hong Kong’s Paul Chan should have been ‘bolder’ in his budget, economists say

‘There are some cost-cutting measures, but they are only piecemeal and definitely not a game-changer,’ Gary Ng says.

Hong Kong Financial Secretary Paul Chan speaks at a press conference after presenting the budget for 2025-26. Photo: EPA-EFE
Hong Kong

Letters | Why most of Hong Kong’s port sector should set sail for Shenzhen

Readers discuss the budget announcements related to Hong Kong’s maritime development, and the city’s LNG bunkering ambitions.

Hong Kong economy

8 residential sites Hong Kong to sell in 2025-26 will yield 4,450 private flats

Each of eight plots expected to deliver between 193 and 985 flats, with first site in Tuen Mun to be rolled out between April and June.

Hong Kong

Will Hong Kong host Lady Gaga at Kai Tak or lose to Singapore again?

‘There will be some concerts, some of them are by singers who hadn’t sung in Hong Kong for a long time, some of them are superstars in Asia,’ tourism minister Rosanna Law says.

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Hong Kong looks set to miss out on hosting global pop diva Lady Gaga. Photo: AP
Hong Kong

Hong Kong boundary fee study will look at impact on travellers and traffic

Boundary facilities fee for private cars among proposals in budget to increase revenue to fix deficit.

A HK$200 fee per vehicle could yield an estimated revenue of about HK$1 billion. Photo: Yik Yeung-man
Hong Kong

Hong Kong’s ‘soft power’ can give tourism sector a boost, experts say

Budget cuts for tourism sector do not necessarily mean less development for the industry, lawmakers and insiders argue.

Paul Chan

‘18 months needed to update 17,000 Octopus card readers for HK$2 fare change’

Hong Kong welfare minister Chris Sun says time needed to adjust Octopus card readers on vehicles and ferries.

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