Paul Chan cites financial market performance and stock trading stamp duty for surplus, as he addresses calls for more welfare at public forum
Hong Kong’s finance chief has confirmed the city will achieve an early operating account surplus thanks to strong financial market performance and increased stock trading stamp duty revenue, as he addressed calls for more welfare measures for the elderly at the first public forum for the coming budget.
Financial Secretary
Paul Chan Mo-po vowed on Saturday to make the “utmost” efforts to address elderly residents’ concerns over high living costs, while highlighting that authorities had not reduced public spending on the social welfare sector in the past financial year despite the budget deficit.
Chan was speaking to about 100 residents who attended a public forum to express their views ahead of the 2026-27 government budget, scheduled to be unveiled in late February.
“Despite the trade war and rising geopolitical tensions last year, Hong Kong still recorded 3.2 per cent economic growth, with the economy now showing steady and orderly development,” he told the forum.
“Thanks to the financial market performance, we gained more [stock market] stamp duty, which enabled us to achieve [operating account] surplus earlier.”
In last year’s budget, Chan forecast the government’s operating account would return to a surplus only in 2026-27 after recording a deficit for three consecutive years.
Comments are closed.