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ExCo Convenor speaks on Budget
The following is issued on behalf of the Executive Council Secretariat:
     Following is the transcript of remarks by the Convenor of the Non-official Members of the Executive Council (ExCo), Mr Bernard Chan, at a media session on the 2018-19 Budget in the Legislative Council Complex this afternoon (February 28):
Reporter: What do you say to the people that there is no direct cash handout for everyone?
Convenor of ExCo Non-official Members: First of all, I don't believe in direct handout because it doesn't actually benefit the economy as a whole. We had tried that before, which we have in a previous year given out $6,000, and obviously not everyone was happy. There's always someone who likes the idea, but I think many more will disagree that this is the best way to promote Hong Kong's economy. By and large, this Budget has taken care of most people. The Government continues to support many of our economies, and also invests in our future's economies, such as bio-med tech, robotics and AI - these are the future economies that we need to invest in. The Budget has also put in a lot of considerations into healthcare. This is also one area that, with an ageing population, we need to spend more resources on it. At the same time, almost 40 per cent of the surplus will be given back to the people, so I think by and large it is a balanced approach.
(Please also refer to the Chinese portion of the transcript.)
Ends/Wednesday, February 28, 2018
Issued at HKT 15:40
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