Wednesday, March 2, 2011

MPF back tracked

John Tsang just announced the administration will withdraw the plan to inject HK$6000 into MPF accounts. Instead, the Government has decided it will just hand it out to permanent residents aged 18 or above. More on this later...

Also, in what is a vast improvement for families, the Government announced that salaries tax reductions would be up to 75% for the coming year. The Hon Fin Sec Tsang made these announcements after meeting with awmakers this morning. With public support and opinion polls low, legislators had enough weight to threaten voting against the budget unless aspects were changed.

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