Hong Kong Proposes Its Least Popular Budget Ever, Survey Finds

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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.

Hong Kong Proposes Its Least Popular Budget Ever, Survey Finds

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.

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