Past Events

Date Events

The Future of Hong Kong's Public Finances: Spend Now, Tax Later?

Even before the pandemic, there had been a debate over whether Hong Kong’s low tax rates and simple tax regime were still relevant in a world that has undergone considerable change. In addition, an ageing population are expected to push up public expenditure, and the impact of Covid-19 has only served to exacerbate these issues. At a seminar on 20 September, Stephen Chiu, Associate Professor of Economics at HKU Business School, and Andrew Fennell, Lead Analyst for China and Hong Kong at Fitch Ratings, discussed the Government’s revenue and investment, and the impact of the collapse of tourism and Hong Kong’s fiscal buffers on the city’s credit rating outlook. The speakers also discussed some feasible suggestions to maintain the long-term fiscal sustainability of Hong Kong, such as Singapore’s policy of borrowing to invest.

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