The Budget proposes to revise the rates system, and also proposes rent deductions

2022-02-23 The Budget proposes to revise the rates system, and also proposes rent deductions. The Financial Secretary, Paul Chan, was asked at the Budget TV Forum whether he wanted to achieve common prosperity. He said that economic development is to improve people's lives. How to share economic development equitably is one of the directions, and the progressive reform of rates is one of the directions This is the first step. Most people, including the middle class, are not affected. When asked if he wants to crack down on those who rely on luxury houses to collect rent, Chen Maobo said that it can be said that he is able to pay more according to his ability. He also said that the society has put forward the idea of rent deduction more than once in the past. After careful study, the government believes that it can be implemented. The government hopes to maintain the new tax exemption as much as possible, but the government could not do it immediately because it depends on the impact and administrative arrangements. , believes that now is the right time to introduce rent deductions. Chen Maobo said that it is expected that there will be a deficit in 2022/23, a balance will be restored in 2023/24, and then there will be a surplus, but it depends on the development of the epidemic in Hong Kong and the world, international political economy, and geopolitical factors. The interest rate hike has been fully assessed. At present, Hong Kong has abundant funds. Unless there is a special reason, the capital flow will not change suddenly. The impact of the US interest rate hike on Hong Kong is limited, but it still depends on external factors.