HongKong

Hong Kong budget: cash handouts, tax breaks and other goodies as city’s financial chief spends big to buy time after social unrest and coronavirus outbreak




Hong Kong’s embattled government on Wednesday offered cash handouts, tax breaks and other subsidies as part of a HK$120 billion package to help millions of citizens cope with the economic impact of months of social unrest and a worsening coronavirus crisis, while announcing the first budget deficit in 15 years.The city’s finance minister announced an eye-catching relief payment of HK$10,000 for each of the city’s adult permanent residents as he revealed the city’s deficit was to hit a record HK…



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