22 Feb '11, 12pm

Tax rebates, property cooling measures expected in Hong Kong budget

HONG KONG: The Hong Kong government is due to unveil its budget for Fiscal 2011-2012 on Wednesday. With an expected budget surplus of up to US$10 billion, Financial Secretary John Tsang is expected not only to hand out some short-term relief to Hongkongers but also target inflation and cool the property market. Regarding public spending, the Hong Kong government's motto has always been big market and small government. However, as Financial Secretary John Tsang revealed in his blog recently, Hong Kong has become a big society that wants the government to intervene more and that is something he wants to avoid. Kevin Lai, Senior Economist with Daiwa Capital Markets, said: "Now, you can argue that this government is very prudent, public finances are very sound and safe, but you could also argue that the economy has been overtaxed. "With fiscal reserves close to 34 per cent of ...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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