Hong Kong Proposes Its Least Popular Budget Ever, Survey Finds
(Bloomberg) -- Hong Kong proposed its least popular fiscal spending plan ever, according to a survey, representing the latest sign of the city’s dissatisfaction with Chief Executive Carrie Lam’s administration.
A record low of 19.8% of respondents said they were satisfied with Wednesday budget proposal, according to a Hong Kong Public Opinion Research Institute survey released yesterday. Among those polled, 56.2% expressed dissatisfaction.
The survey was conducted soon after Financial Secretary Paul Chan delivered his annual budget speech, which included plans to offer HK$5,000 ($645) spending vouchers for residents and guaranteed loans for the unemployed to spur an economy that’s slowly recovering from two years of recession. But the plan also included a proposal to raise taxes on stock trading for the first since 1993, pummeling share prices.
|For more on Bloomberg’s coverage of the Hong Kong budget|
|Hong Kong Trading Tax Deals Rare Blow to City’s Financiers|
|Hong Kong Eyes Narrower Deficit After Pandemic Record: Chart|
|Hong Kong Budget Misses One Thing — the Future: Andy Mukherjee|
|Hong Kong Sees Years of Fiscal Deficits: TOPLive Transcript|
|Hong Kong Gives HK$120 Billion Fiscal Boost to Economic Recovery|
|Here Are the Winners and Losers in Hong Kong’s Latest Budget|
|HKEX to Face Hurdles, Stamp-Duty Hike, New CEO: Company Outlook|
|Hong Kong Budget May Boost Loan Growth, Quality at HSBC, Peers|
|Hong Kong’s Coupon Binge May Help Rejuvenate Consumer Spending|
The institute also said 17.5% of respondents were half-half in their satisfaction. Pori surveyed 859 Cantonese-speaking citizens Wednesday with the results having a standard error of no more than 3.4% percentage points.
©2021 Bloomberg L.P.