#PublicSpending
A Short Summary of How the HK Government Will Utilize Its Funding in the Upcoming Financial Year
The Finance Committee of the Legislative Council has passed Ocean Park's 5.4 billion financial subsidy application with 32 yes counts, 20 no, and 2 abstains. Part of the 5.4 billion subsidy is for paying the commercial loans to the Bank of China.
In the announcement for Hong Kong's 2020 budget earlier this year, it was announced that a $75 billion recurrent funding will be provided to the Hospital Authority, which is a 3.6 billion increase (5% increase) from the previous financial year. An additional 1.6 billion single-time funding will also be provided for the Authority to acquire medical supplies, which will bring up the total funding to the Authority to 76.6 billion. It was, however, learnt that during the speech by Paul Chan, the Financial Secretary, he compared the amount of funding with that of 2 years ago (2017/2018), and stated the budget was an increase of 35% from previous, which was 30% more than the comparison to that of 2019. When compared to the 8.5% increase from 2018 to 2019, this year's funding is actually a lesser increase (only 5%).
The industry is still concerned that the Authority still lacks a solution to address the loss of mid-level health workers. It was also suspected that the measure is to target workers who participated in strikes demanding a full border closure during the epidemic.
On the other hand, the HK police force will receive 25.8 billion in funding this financial year, which is a 2.2 billion increase from last year. Also, the wage subsidy funding in 2019/20 was initially set to 25.6 million, it was then amended to 2.55 billion (9 times increase). The funding is expected to cover expenses for creating 2543 extra positions on top of the already existing 35863 positions, and for acquiring 6 armoured vehicles, with each vehicle costing around $12.8 million.
Source: i-Cable News, Apple Daily, MingPao
#May31 #Medical #HKPolice #OceanPark
A Short Summary of How the HK Government Will Utilize Its Funding in the Upcoming Financial Year
The Finance Committee of the Legislative Council has passed Ocean Park's 5.4 billion financial subsidy application with 32 yes counts, 20 no, and 2 abstains. Part of the 5.4 billion subsidy is for paying the commercial loans to the Bank of China.
In the announcement for Hong Kong's 2020 budget earlier this year, it was announced that a $75 billion recurrent funding will be provided to the Hospital Authority, which is a 3.6 billion increase (5% increase) from the previous financial year. An additional 1.6 billion single-time funding will also be provided for the Authority to acquire medical supplies, which will bring up the total funding to the Authority to 76.6 billion. It was, however, learnt that during the speech by Paul Chan, the Financial Secretary, he compared the amount of funding with that of 2 years ago (2017/2018), and stated the budget was an increase of 35% from previous, which was 30% more than the comparison to that of 2019. When compared to the 8.5% increase from 2018 to 2019, this year's funding is actually a lesser increase (only 5%).
The industry is still concerned that the Authority still lacks a solution to address the loss of mid-level health workers. It was also suspected that the measure is to target workers who participated in strikes demanding a full border closure during the epidemic.
On the other hand, the HK police force will receive 25.8 billion in funding this financial year, which is a 2.2 billion increase from last year. Also, the wage subsidy funding in 2019/20 was initially set to 25.6 million, it was then amended to 2.55 billion (9 times increase). The funding is expected to cover expenses for creating 2543 extra positions on top of the already existing 35863 positions, and for acquiring 6 armoured vehicles, with each vehicle costing around $12.8 million.
Source: i-Cable News, Apple Daily, MingPao
#May31 #Medical #HKPolice #OceanPark
#PublicSpending
Hong Kong Chief Executive Spends HK$2.54 Million Pleading for Support for National Security Law
Chief Executive Carrie Lam spent around HK$2.54 million to publish a full-page advertisement in 13 newspaper, pleading for support from the public concerning the implementation of the national security law.
After the NPC passed the national security law in Hong Kong, Secretary for Justice Teresa Cheng declared her support for the law.
Carrie Lam stressed that recent social movements resulted in risks of terrorism, therefore the national security law can protect the city.
Source: Cable News
#May31 #Nationalsecuritylaw #PublicMoney
Hong Kong Chief Executive Spends HK$2.54 Million Pleading for Support for National Security Law
Chief Executive Carrie Lam spent around HK$2.54 million to publish a full-page advertisement in 13 newspaper, pleading for support from the public concerning the implementation of the national security law.
After the NPC passed the national security law in Hong Kong, Secretary for Justice Teresa Cheng declared her support for the law.
Carrie Lam stressed that recent social movements resulted in risks of terrorism, therefore the national security law can protect the city.
Source: Cable News
#May31 #Nationalsecuritylaw #PublicMoney
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