(Budget 21-2022) Carrie Lam welcomes HK$5,000 vouchers for residents

Vouchers will help stimulate local consumption which has been severely dampened because of the coronavirus epidemic, the Chief Executive Carrie Lam, said today.

In his 2021-20220 budget today, the Financial Secretary Paul Chan Mo-po proposed HK$5,000 electronic vouchers for residents and new arrivals.

“I believe the impact of this initiative will be felt throughout the community during these testing times,'' Lam said in a statement.

She said the budget comes at a critical time for Hong Kong “as we strive to emerge from the unprecedented financial, economic and social challenges brought about by the pandemic, while maintaining fiscal stability.''

Lam also said she supports the counter-cyclical measures aiming at easing the financial burden on people and businesses while ensuring that essential public services as well as infrastructure development are maintained.

“In particular, the continued investment in innovation and technology will have the effect of sustaining the momentum built up in recent years in this emerging economy. It will help position Hong Kong well in the development of an international innovation and technology centre in the Guangdong-Hong Kong-Macao Greater Bay Area.''

She said she is pleased that the goal of Hong Kong achieving carbon neutrality before 2050, which she announced in the 2020 Policy Address has been given due regard in the budget.

“The continued issue of green bonds and promotion of new energy transportation will go a long way towards that objective.

“Notably, the Financial Secretary has placed green and sustainable finance and the digital economy at the forefront of Hong Kong's continued pursuit to consolidate and strengthen her role as an international financial center with the full support of the central government.''

The budget has also unveiled effective measures to ensure prudence in public finance, which in turn will increase confidence in Hong Kong's fiscal strength and is conducive to maintaining our monetary stability,Lam said.

“I support the pragmatic approach in adopting a deficit budget amid the prevailing economic downturn.''