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The following is issued on behalf of the Legislative Council Secretariat:
The Legislative Council Secretariat (the Secretariat) today (March 25) released a Research Brief on "The 2014-2015 Budget".
This Research Brief studies the Government's budgets in the past decade and the beneficiary groups of the one-off relief measures announced in the budgets. The Government has consistently under-estimated its revenue between the Financial Years 2004-2005 and 2013-2014. Years of under-estimation may have restricted total government expenditure growth, resulting in larger than expected budget surpluses. Part of the surpluses has been distributed in the form of one-off relief measures. The beneficiary groups were the general public, low-income group, taxpayers, private flat owners, companies, public housing tenants and disadvantaged group. Private flat owners were the largest beneficiary group accounting for 28.7 per cent of the total amount of one-off relief measures between the Financial Years 2007-2008 and 2013-2014. If the average concept is applied, the general public benefited the most and received HK$7,909 on average over the same period.
This is the fifth issue of Research Brief prepared by the Secretariat's Research Office of the Information Services Division with a view to enhancing information support for Members. It is a concise summary aiming at explaining a subject matter which may be of interest to Members and the general public.
The Research Brief is now available on the Legislative Council Website at www.legco.gov.hk/yr13-14/english/sec/library/1314rb05-e.pdf.
Ends/Tuesday, March 25, 2014
Issued at HKT 18:49
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