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U-turn by Financial Secretary on Hong Kong Budget

U-turn by Financial Secretary on Hong Kong Budget

Tax alert - Issue 3, March 2011

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U-turn by Financial Secretary on Hong Kong Budget

In response to criticism of the Hong Kong Government's 2011-12 Budget proposals by legislators and the public, the Financial Secretary, John Tsang Chun-wah, surprisingly announced additional measures on 2 March 2011. These changes are aimed at sharing the benefit of the record Budget surplus with the needy and the middle class, amongst others.

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