Editorial : Consider Distributing Consumption Vouchers Again
文章日期:2022年12月8日

【明報專訊】Hong Kong's economy is weak. Financial Secretary Paul Chan has said that he will decide whether to adopt counter-cyclical measures or not depending on the situation. As for whether consumption vouchers will be handed out again next year, it is "too early to say" for now. Since the start of this year, Hong Kong's economy has suffered heavy blows from both the pandemic and external factors. Government revenue has also been way lower than expected, and it is expected that a deficit of $100 billion will be recorded. Of course, the government should refrain from squandering money. However, making good use of public funds to relieve people's hardships and spending them recklessly are two different things. The significant improvement of Hong Kong people's livelihood and the city's economy hinges upon the full reopening of the city's borders with the mainland and the upturn of the global economy. It is expected that the former will not occur until the second half of next year. As for the latter, there are even more uncertainties. Although the SAR's fiscal reserves have declined, $800 billion is still a substantial figure. At a time of high inflation, the authorities should utilise their coffers even better to support the grassroots and the middle class. Issuing another round of consumption vouchers is one of the options that can be considered.

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