Talking points

US President Barack Obama will use today's fifth anniversary of the collapse of Lehman Brothers to turn his attention from foreign policy to a looming budget battle with Congress. Obama will deliver a speech warning against "more self-inflicted wounds from Washington" as Congress considers a new budget and debates an increase in the US$16.7 trillion debt ceiling. The speech is aimed at Congress and the deadlines lawmakers must meet to avoid a government shutdown on October 1.

Housing officials will attend the Legco's bills committee on the Stamp Duty (Amendment Bill) this morning. The bill will double stamp duty for all buyers of residential and non-residential properties, except for Hong Kong permanent residents who are first-time buyers. Some lawmakers plan to table amendments to the government proposal which is yet to be approved.