PwC expects HK$55b fiscal surplus
(02-19 18:56)
The accounting firm, PricewaterhouseCoopers, believes the government will record a HK$55 billion surplus for this fiscal year.
This would raise its total reserves to over HK$724 billion -- or the equivalent of 23 months of government expenditure.
PwC also revised its earlier forecast upwards on the back of higher-than-expected revenues from profits tax and land sales, which it now believes to be around HK$253 billion, RTHK reports.
But PwC has advised against using the reserves for one-off giveaways in the upcoming Budget. It said the government should instead use the reserves for the long-term benefit of the economy, and to tackle deep-rooted social and livelihood issues.
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