Leading up to the 2023/24 Hong Kong Budget announcement on 22 February by Financial Secretary Paul Chan Mo-po, we submit our forecasts and recommendations to the Hong Kong government, aiming to make positive and sustained impacts for the economy, business community and individuals through our commitments to act.
Support enterprises, relieve people’s burden
Attract businesses, investments and talents
Reinforce traditional advantages, develop emerging industries
"While we are confident that the fiscal reserve will return to positive growth in the coming year – especially after the reopening of the borders – the Government should consider long-term plans for financing infrastructure through alternative means, such as securitisation and infrastructure funds."
“With the gradual lifting of travel restrictions and quarantine requirements around the world and the reopening of the borders with the Mainland, Hong Kong needs to get ready for a travel boom and to seize the opportunity to return to pre-COVID levels of economic growth. In line with the Government’s efforts to develop Hong Kong as an international shipping and aviation hub, we encourage the Government to work with other GBA cities to promote maritime and aircraft leasing.”
“It is important for the Government to consider all proposed plans and measures carefully and to take into account stakeholders’ concerns during implementation, and execute them efficiently and effectively through a Smart Government. The development or enhancement of such platforms, including the e-tax filing system, is critical. In particular, as tax rules become increasingly complex, the Government should make use of tools to administer the law and facilitate taxpayers’ compliance in a streamlined manner.”