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22-02-2017
Hong Kong Budget 2017-18

 

The Financial Secretary, Mr Paul Chan, has announced the 2017-18 Budget.

Major points for your information:

- Fiscal surplus of HK$92.8 billion (approx US$11.9 billion) in 2016-17

- One-off relief measures including tax breaks and rates rebates worth HK$35.1 billion

- Longer-term investments of HK$61 billion for community benefit in areas such as elderly services, sports and recreation facilities, innovation and technology as well as youth development.

- Proactively foster economic development and explore new markets for pillar industries (trading and logistics, financial services, business and professional services, tourism) as well as new and emerging sectors (film, fashion, design, creative industries, innovation and technology)

- Extra $240m for tourism sector to stage mega events and attract high-spending visitors  

Fiscal estimates
- Revenues of HK$507.7 billion (US$65 billion) in 2017-18

- Expenditure of HK$491.4 billion in 2017-18, with HK$89.1 billion for infrastructure, HK$87.5 billion for education, HK$80.5 billion on welfare, and HK$70 billion on health.

- Fiscal reserves by end-March 2018 are estimated to reach HK$952 billion.

Budget leaflet


Budget website
http://www.budget.gov.hk/2017/eng/index.html

Press Releases
FS allocates resources for introducing relief measures and investing for the future in 2017-18 Budget
http://www.info.gov.hk/gia/general/201702/22/P2017022200550.htm?fontSize=1

FS in Budget pledges to boost pillar industries and promote diversified economic development
http://www.info.gov.hk/gia/general/201702/22/P2017022200556.htm?fontSize=1

FS uses maiden Budget to explain objectives and approach of public finance
http://www.info.gov.hk/gia/general/201702/22/P2017022200605.htm


New first registration tax concessions for electric vehicles
http://www.info.gov.hk/gia/general/201702/22/P2017022200420.htm?fontSize=1


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