Hong Kong Budget

EY comments on Hong Kong Budget 2024-25 — Building confidence and vitalizing the economy with a balanced approach

HONG KONG, 28 FEBRUARY 2024 — The Hong Kong SAR Government (the Government) announced the Hong Kong Budget 2024-25 (the budget) today, in which a revised deficit of HK$101.6 billion will be recorded for the financial year 2023-24, which is almost double of their original forecast of HK$54.4 billion. Amid uncertainties in the global economic outlook, the Financial Secretary (FS) adopted a balanced approach in the budget to relieve people's hardship while simultaneously revitalizing the economy.

EY recommends the Government to focus on attracting investments to Hong Kong and adopt targeted supportive measures

HONG KONG, 23 JANURARY 2024 — Ernst & Young Tax Services Limited (EY) estimates that the Hong Kong SAR Government (the Government) will record a fiscal deficit in the financial year 2023-24 of HK$148.0 billion, which would exceed the HK$54.4 billion originally forecasted in the Government’s Budget announced in February 2023 by almost two times.

EY comments on Hong Kong Budget 2023-24 — Hong Kong’s fiscal position and relief measures

HONG KONG, 22 FEBRUARY 2023 — EY comments on Hong Kong Budget 2023-24, covering Hong Kong’s financial positioning and relief measures.

EY recommends the Government to adopt targeted supportive measures and focus on stimulating Hong Kong’s economic development in the mid- to long-term

HONG KONG, 9 FEBRUARY 2023 — Ernst & Young Tax Services Limited (EY) estimates that the HKSAR Government (the Government) will record a fiscal deficit in the financial year 2022-23 of HK$135 billion, which will be significantly higher than the amount of HK$56.3 billion originally forecasted in the Government’s budget announced in February 2022.

EY comments on Hong Kong Budget 2022-23 — Hong Kong’s financial positioning and relief measures

HONG KONG, 23 FEBRUARY 2022 — EY comments on Hong Kong Budget 2022-23, covering Hong Kong’s financial positioning and relief measures.

EY estimates a fiscal deficit of HK$18 billion for 2021-22, 80% less than Government’s original estimate

HONG KONG, 12 JANUARY 2022 — Ernst & Young Tax Services Limited (EY) estimates that the HKSAR Government (the Government) will record a fiscal deficit in the financial year 2021-22 of HK$18 billion, which will be considerably lower than that originally forecasted in the Government’s budget announced in February 2021.

EY comments on Hong Kong Budget 2021-22 - Hong Kong’s financial positioning and relief measures

HONG KONG, 24 FEBRUARY 2021 — Agnes Chan, EY Managing Partner, Hong Kong and Macau, says, “Based on the revised estimate announced in the Hong Kong Budget, the HKSAR Government (the Government) will record an unprecedented deficit of HK$258 billion for the financial year 2020-21, the highest deficit recorded to date.”

EY comments on Hong Kong Budget 2020-21

HONG KONG SAR, 28 FEBRUARY 2020 — Based on the revised estimate announced in today’s budget, the HKSAR Government will record the first budget deficit in 15 years, says Agnes Chan, EY Managing Partner, Hong Kong and Macau.