At this critical time, we need to direct more resources to relieve people’s hardship and provide SMEs with some breathing space so as to stabilise the economy and maintain public confidence.
This year’s Budget focuses on stabilising the economy and relieving people’s burden. It aims to alleviate the hardship and pressure caused by the economic downturn and the epidemic; and seeks to create a leverage effect to benefit our people, workers as well as enterprises.
In preparing this Budget, I put the focus on “supporting enterprises, safeguarding jobs, stimulating the economy and relieving people’s burden”.
As a small and totally open economy, Hong Kong has been susceptible to economic headwinds over the past few months, as evidenced by notable slackening growth and diminishing confidence of enterprises in the future outlook.