We must rein in outbreaks to save the economy: FS

Financial Secretary Paul Chan on Sunday said Hong Kong has to contain the latest Covid-19 outbreaks as quickly as possible in order to stabilise and support the economy.

He said the outbreaks have once again dealt a serious blow to the economy, and money from the fifth round of anti-epidemic fund is on its way to help businesses and workers.

Writing in his blog, Chan also said officials are finalising details for the sixth round of relief fund – which, he said, will provide no less than HK$20 billion.

He said the government will seek approval from the Legislative Council once the proposal is ready, but did not give specific dates.

Chan added the government will continue to track down and isolate patients to cut any transmission chains.

“To protect citizens’ lives, safety and health; to maintain the effective operation of the healthcare system so it could provide timely treatment for the seriously ill; to safeguard the livelihood of workers and small and medium businesses, we must contain the epidemic as quickly as possible,” he said.

“Only if we manage to rein in the epidemic, can we stabilise and support the economy to the greatest extent.”

He said risks from the external environment, such as inflation and geo-political tensions, shouldn’t be overlooked either, and Hong Kong has to reserve some of its fiscal strength to safeguard the safety and stability of the city’s financial system.

Chan said his budget proposals – to be announced in three weeks’ time – will contain short term measures but will also take care of the SAR’s longer term development.