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Public Finance

2023-24 Total government revenue and expenditure
  • 2022/23: consolidated deficit is forecast to be $139.8 billion and fiscal reserves are forecast to be $817.3 billion by end March 2023
  • 2023/24: a forecast deficit of $54.4 billion
  • 2024/25 to 2027/28: fiscal surplus is forecast with fiscal reserves estimated at $983.7 billion by the end of March 2028
  • Profits tax and salaries tax rates to remain unchanged this year
  • Impose an annual special football betting duty of $2.4 billion on the Hong Kong Jockey Club (HKJC) for 5 years starting from 2023/24. HKJC has undertaken not to reduce its commitment to local charities
  • Further expand the scope of the Government Green Bond Programme to cover sustainable finance projects, and set up an Infrastructure Bond Scheme to better manage the cash flow needs of major infrastructure projects
  • Adhere to the fiscal discipline of keeping expenditure within the limits of revenue. Proceeds from bond issuance will not be used for funding recurrent expenditure

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