Invest HK$64 billion budget surplus in youth, pan-democrats urge Tsang

Pan-democrat lawmakers today urged Financial Secretary John Tsang Chun-wah to dip into the city’s HK$63.8 billion budget surplus to invest in the future.

While HK$34 billion of relief measures announced by the finance chief yesterday won some praise during a Legislative Council finance committee hearing, Democratic Party lawmaker Emily Lau Wai-hing said Tsang should use the huge budget surplus to help students pay for tuition.

“These big sums of [surpluses and reserves] are Hongkongers’ money. Why don’t you invest more money to provide subsidised degrees for our young people … who bear large loans after graduation?” she said.

“Don’t just give out sweeteners, but do something for Hong Kong in the long-term.”

Tsang was applauded, however, for liberal comments about the city’s youth. Pro-establishment lawmaker Lam Tai-fai said Tsang’s remarks would repair some of the damage done by Chief Executive Leung Chun-ying’s criticism of students in last month’s policy address.