Tuesday, September 30, 2014   

'Future Fund' necessary, says govt group
(03-03 19:08)

Experts from a government working group on Monday urged the administration to put one-third of its annual fiscal surplus into a new "Future Fund" that could bankroll needed infrastructure developments even if the government is running a deficit.
The Working Group on Long-Term Fiscal Planning said such a fund could grow to over half a trillion Hong Kong dollars by 2041 and that such a massive war-chest was necessary in light of the territory's shrinking population and aging workforce.
The group also stood by its prediction that Hong Kong could start to see a structural deficit within seven years. --RTHK   
Other Hong Kong breaking news:
Paul Chan, wife guilty of libel, fined HK$230k (09-30 18:47)
China suspends HK tours: reports (09-30 18:15)
Printing error discovered in Hospital Authority system (09-30 18:04)
British PM reminds China of obligations over Hong Kong (09-30 17:32)
Minimum wage raised for foreign domestic helpers (09-30 17:28)
Occupy to open way for emergency services (09-30 17:14)
Emergency services disrupted: police (09-30 16:56)
Several bus routes remain closed (09-30 16:53)
Fiscal reserves at HK$711b (09-30 16:43)
China backs Hong Kong leaders against 'illegal' acts: govt (09-30 16:36)

More breaking news >>

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