It’s only right that their salaries should be cut - civil servants are paid a lot anyway,” said Wong, a 73-year-old Hong Kong retiree.

From axing 10,000 government jobs to raising the airport departure tax , here is a look at Financial Secretary Paul Chan’s plan to balance Hong Kong’s books.

Finance chief Paul Chan has presented 'very generous' budget at time when city needs bold solutions to deficit woes, experts say

Hong Kong will cut government spending by 7 per cent over the coming three years, Financial Secretary Paul Chan has announced in his 2025 budget speech, as the city logged an estimated HK$87.2 billion deficit.

HONG KONG SAR - Media OutReach Newswire - 28 February 2025 - Driving innovation and technology was a key focus of Hong Kong SAR's Financial Secretary Paul Chan's 2025-26 Budget. Identifying Artificial Intelligence (AI) as being at its core,

Hong Kong’s finance chief Paul Chan has announced reductions in both salary and profits tax cuts in his latest budget speech. In the coming fiscal year, salaries tax, as well as tax under personal assessment,

Hong Kong is facing its toughest fiscal test in three decades, with annual deficits exceeding $20 billion in three of the past four years. The city’s finance chief, Paul Chan, has announced a plan to restore fiscal balance by mid-2027.