Hong Kong budget 2024-25: city delays Lantau Island reclamation project, orders all departments to tighten belts scmp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scmp.com Daily Mail and Mail on Sunday newspapers.
Residents to pay more tax on annual salaries exceeding HK$5 million, while government will revive 3 per cent tax on hotel stays and raise tobacco duty.
As total expenditure balloons to HK$760 billion, government urged to take a more targeted approach to spending and stop dishing out universal sweeteners.
Fanny Yeung, Travel Industry Council executive director, says visitors from the mainland estimated to be about 80 to 85 per cent of pre-pandemic levels.