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Chief executive John Lee Ka-chiu will deliver his second policy address as the city’s leader at the Legislative Council at 11 am on Wednesday, with measures ranging from a possible easing of property taxes to poverty-alleviation measures and ways to get Hong Kong people to have more children expected to be announced.
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The Hong Kong leader said yesterday that the address will focus on boosting the economy and improving livelihoods. Lee said the address’ green-colored cover "symbolizes Hong Kong’s transition from stability to prosperity.”
Commonly referred to as ‘spicy measures’ – various taxes on property transactions were introduced years ago to discourage speculators and rein in what was once a red-hot property market.
Sources said Lee’s policy address today will announce adjustments to the measures to take away some spice.
Meanwhile, it is expected that Lee will announce a new cash subsidy scheme to encourage couples to have babies will be announced amid a decline in the number of young people in Hong Kong, with the city having one of the lowest birth rates in the world.
It was learned that it will be a handout of HK$20,000 for each newborn, along with adding childcare services and providing cash allowances.
Sources said Lee will also announce details of "community hubs" and that authorities have started identifying locations and nongovernment organizations for cooperation.
