Financial Secretary of Hong Kong Special Administrative Region: population aging anti-deficit spending rose for force

Financial Secretary of Hong Kong Special Administrative Region: population aging anti-deficit spending rose || force Hong Kong SAR Government Financial Secretary John Tsang, 25, said that although the Government will still have a surplus in the coming years, but need to take early positive measures to control spending, guaranteed income, savings in due course, try to prevent the emergence of a structural deficit。 Before Mr Tsang made the remarks, the Hong Kong SAR Government's long-term financial plan working group last year issued a report that an aging population, slow economic growth, will make the growth in government expenditure continued to exceed the economic and income growth, the structural deficit will be in the next 10 years appear。
25th, John Tsang, in the Legislative Council, DC read Shiliu Fenzhi Erqian ○ Yi Shiwu annual "Budget" means, sixteen Fenzhi Erqian ○ Yi Shiwu year the Government operating expenditure is estimated at 354.3 billion yuan (HK , the same below), an increase over the previous year%。 Among them, often spending accounting for more than ninety percent。
10 years, recurrent expenditure has risen every year, more than 2005/06% annual cumulative increase reflects the continued commitment of the Government's public services。
John Tsang Chun-Hua Jieshao said the government recurrent expenditure, nearly six education, health and social welfare。 Among them, often spending on education amounted to 71.4 billion yuan, accounting for 22% of recurrent expenditure, the government is the largest expenditure category。
Mr Tsang said Hong Kong to pursue a simple and low tax regime, narrow tax base。 Forty per cent of the working population pays only for salaries tax, tax of up to 5% of the tax take Liu Cheng。
Only one percent of the registered company profits tax, tax of up to 5% take more than eighty percent of the tax。 Stabilize and broaden the revenue base of the government is extremely important。
SAR Government in mid-2006 on the proposed introduction of a Goods and Services Tax extensive consultation, the community was unable to accept new taxes。 May look again at the appropriate time the feasibility of broadening the tax base, to ensure stable and effective government revenue, direct taxes increased concession space。
The Working Group recommended a long-term financial plan late last year to 220 billion yuan surplus in fiscal reserves Land Fund, set up a "Future Fund", adding some surplus each year, as long-term savings, through long-term investments for higher returns。 Mr Tsang said he agreed to set up a "Future Fund", expect this year to implement the relevant savings plan。
Delivering his 2015-16 annual "budget", Mr Tsang also said it expects the year two thousand and fourteen fifteenths SAR government surplus 63.8 billion yuan this year, March 31 fiscal reserves of 819.5 billion yuan; sixteen two-thirds thousand and fifteen year recorded a surplus of 36.8 billion yuan is expected next year, March 31 fiscal reserves of 856.3 billion yuan。 Since 2008 the global financial crisis, Hong Kong's economy average annual real growth%, 10% average annual trend growth rate is lower than before the crisis。

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