Hong Kong Budget 2015 / 2016

On 25 February 2015, Mr John Tsang delivered his eighth government budget since he became the Financial Secretary.

This year’s budget aims to complement the initiatives announced in the Policy Address and seeks to address the constraints on land and manpower through the effective use of resources. Whilst seeking to reinforce the foundation for long-term economic development, Mr Tsang has pledged to explore new ideas and strive for diversity to help Hong Kong people realise their aspirations and continue to care for the disadvantaged so that people from different sectors and the next generations can share the benefits of economic growth.

Similar to prior years, the revised consolidated surplus of HK$63.8 billion as announced by Mr Tsang is much greater than his original estimate of HK$9.1 billion. As a result of the whopping surplus, Mr Tsang announced a number of relief measures, including the increase in the child allowance from the current HK$70,000 to HK$100,000.