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Newly Introduced Silver Bond may Neglect Poorer Elderly Population

  • 2016-02-24
  • 2016-02-24

The Silver Bond may only benefit senior citizens with extra money in hand, neglecting the poorer elderly population in Hong Kong. The Silver Bond, similar to the previous inflation-linked iBond that was designated for the elderly, will be launched this year and the year after, announced the Financial Secretary Mr. Tsang Chun-wah in the Budget …

Summarizing the 2016-17 Budget : what has the Government announced?

  • 2016-02-24
  • 2016-02-24

  Today’s budget discloses a 6.7% increase in expenditure to $347.5 billion from $324.6 billion last year.   This year, tax allowances rewards focus  on those taking care of the elderly people, with increases allowances for a dependent parent or grandparent aged 55 or above. Whereas in 2015-2016, tax allowances are mainly targeting population with …

Reserve Estimates : Highlights

  • 2016-02-24
  • 2016-02-24

The government is estimated to have $30 billion worth of surplus in this financial year.  

Creative Sector : Highlights

  • 2016-02-24
  • 2016-02-24

A total of 8.1 billion be provided to support for film, fashion and sports sectors.

Housing & Land : Highlights

  • 2016-02-24
  • 2016-02-24

28,000 public housing units and 29,000 private housing units can be provided to the housing market, according to this year's Budget.  

Elderly Sector : Highlights

  • 2016-02-24
  • 2016-02-24

The Budget spends $66 billion to support the underprivileged, which will mostly be aimed at the elderly.  

Tourism Sector : Highlights

  • 2016-02-24
  • 2016-02-24

The government pours a total of $380 million into the tourism sector in this year's Budget.  

Research & Development : Highlights

  • 2016-02-24
  • 2016-02-24

Hong Kong Science Park will take the lead in smart production and research with $8.2 billion from the Government.

Healthcare Sector : Highlights

  • 2016-02-24
  • 2016-02-24

The healthcare sector will see an increase in hospital beds and medical facilities this year.

Overview of the Budget : Highlights

  • 2016-02-24
  • 2016-02-24

The Budget this year focuses on six major fields: Education, I.T., Tourism, Land, Healthcare and Social Welfare.