My Take | Hong Kong budget philosophy offers very little change
A study has revealed spending on infrastructure projects and the welfare of the well-off continues apace despite claims that those in need will benefit
The headline jump on education spending seems spectacular, an increase of 28.4 per cent, or HK$25.2 billion, to HK$113.7 billion. But that’s a one-off.
In fact, education as a share of total government spending has dropped from 22.9 per cent in 2007-2008 to 20.4 per cent in 2018-2019.
The decline is even greater in terms of recurrent education spending from 23.5 per cent to 20.8 per cent during the same period. So much for saying our children are the future.
When it comes to social welfare, it’s undeniable that Lam’s predecessor Leung Chun-ying has greatly increased overall spending, a rising trend that Lam is continuing.