HK$10 billion discrepancy over welfare bill after policy address
Confusion as officials appear unsure of whether package will cost HK$20 billion, or just half that
Despite repeated reassurances that the generous welfare package rolled out in Wednesday's policy address is "financially sustainable", top officials appear unsure of what the total bill will be.
Confusion lingered yesterday over whether the splurge on allowances and welfare funding would cost an extra HK$10 billion or HK$20 billion a year.
The HK$20 billion figure was quoted on Wednesday by Chief Executive Leung Chun-ying and Financial Secretary John Tsang Chun-wah.
But yesterday Chief Secretary Carrie Lam Cheng Yuet-ngor said the estimate should be slashed in half.
Secretary for Financial Services and the Treasury Professor Chan Ka-keung rejected neither version, saying it depended on how the calculation was made.
"If you draw a timeline [in a financial year] when doing the calculation, a very rough estimate stands at around HK$20 billion," Chan said. "But if you only pay attention to the new policies, regardless of which financial year their implementation falls into, it would cost around HK$10 billion."
