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Financial Secretary's new budget (14 Mar 2004)


The budget contains few new ideas and relies mainly on economic revival. Martin Glass (Deputy Secretary, Financial Services and the Treasury) says the government does not want to stifle recovery with additional revenue measures and that there is time for resolving the structural deficit. He explains the government's approach to introduce goods and services tax, which will be kept simple to minimize administrative costs. K. C. Chan (Dean, School of Business and Management, Hong Kong University of Science and Technology) observes the budget is just a fine-tuning of last year's budget and that the timing for bond issuance is good.

Publish Date: 
Sunday, March 14, 2004
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