Hong Kong’s government may boost spending on the poor and elderly in its first budget under Chief Executive Leung Chun-ying tomorrow, as record home prices and falling ratings add pressure to narrow a widening income gap.
The government may report a surplus of HK$55 billion ($7.1 billion), boosting reserves to a record HK$724 billion, according to Marcella Chow, an economist at Bank of America Corp. in Hong Kong. The budget, presented by Financial Secretary John Tsang, will probably trim one-time measures and focus spending on alleviating poverty and helping the aged, Chow said.
