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.

Hong Kong’s technology enterprises are set to benefit from the city’s annual budget as the government plans to roll out investments in artificial intelligence research.

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.

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.

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

Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts.

Facing bumper deficits and a faltering economy, finance chief Paul Chan sought to make savings as he delivered the 2025 Budget at the legislature on Wednesday. ・HK logs estimated HK$87.2bn deficit, 7% spending cuts over coming 3 years.

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.

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,