Government announces appointments to Working Group on Long-Term Fiscal Planning

     The Government announced today (June 11) the appointments by the Financial Secretary of the chairperson and members of the Working Group on Long-Term Fiscal Planning.

     As announced in the 2013-14 Budget Speech, a working group to be led by the Permanent Secretary for Financial Services and the Treasury (Treasury) would be set up to explore ways to make more comprehensive planning for Hong Kong's public finances to cope with the ageing population and the Government's other long-term commitments.

     The Working Group aims to assess, under existing policies, the long-term public expenditure needs and changes in government revenue, and to propose feasible measures with reference to overseas experience. The Working Group will hold the first meeting in June and aims to report to the Financial Secretary by the end of 2013 at the earliest.

     A government spokesman said, "The non-official members of the Working Group are scholars and experts with vast experience and rich knowledge in their professions/sectors such as economics, accountancy, financial services and actuary services. We are grateful for their agreement to serve on the Working Group to work out the future direction of our public finance."

     The membership of the Working Group is as follows:

Ms Elizabeth Tse        Permanent Secretary for
                        Financial Services and
                        the Treasury (Treasury)

Non-official Members
Professor Liu Pak-wai   Professor of Economics
                        The Chinese University
                        of Hong Kong

Professor Francis Lui   Head and Professor
                        Department of Economics
                        School of Business and
                        The Hong Kong University
                        of Science and Technology

Mr Mark Saunders        Managing Director
                        Asia Pacific Insurance Sector
                        Towers Watson

Mrs Jennifer Wong       Partner

Mr Marcellus Wong       Senior Adviser

Ex-officio Members
Mrs Lesley Wong         Director of Accounting

Mrs Helen Chan          Government Economist

Ms Esther Leung         Deputy Secretary for
                        Financial Services and
                        the Treasury (Treasury)1


Mr Charlix Wong         Principal Assistant Secretary
                        for Financial Services and
                        the Treasury (Treasury)(H)

Ends/Tuesday, June 11, 2013
Issued at HKT 15:00