Hong Kong lawmakers urge delay of less-urgent public projects to address budget deficit

Economy

1 year ago

News sources:

Credited from: SCMP

Lawmakers in Hong Kong have requested the government to postpone less-urgent construction initiatives to mitigate a projected budget deficit of nearly HK$100 billion (US$12.8 billion).
In response to Financial Secretary Paul Chan Mo-po's commitment to public works and financial sustainability, lawmakers suggest breaking projects into stages.
Proposals include reassessing a HK$600 million to HK$700 million gallery on the Wan Chai waterfront and merging it with existing resources.
Lawmaker Edward Leung Hei advocates for postponing minor projects and reviewing the current bidding process to enhance competition among developers.
Some small-scale projects, such as cycling paths, are deemed non-urgent, raising questions about their current necessity in light of the financial situation.

For more information, visit the original article at South China Morning Post.