According to the latest Budget announcement of the HKSAR government, the budget surplus for the 2016-17 financial year is over 92.8 billion HKD, which is over 80 billion HKD more than the originally predicted surplus of 11.4 billion HKD, this pushes the accumulated budget surplus within the treasury to over 900 billion HKD. We thereby have good reason to feel that Hong Kong has an abundant surplus which the government should make use of to improve the quality of life for all Hong Kong residents and thus share the fruits of our economic development.
Currently the government receives cash dividends from MTR profits. This dividend is currently used for recurrent expenditure by the government. We feel that the Hong Kong treasury is indeed “flooding” with cash and propose that the government should use the MTR cash dividend to set up a “MTR Fare stabilization fund” which can help partially or fully offset any fare hikes for each year. This will help MTR fares remain at a stable level and will alleviate the financial burden that the annual fare increases have caused to commuters.
We urge the Legco Panel to press the government to proactively research our proposal. We hope that this proposal will be in place the next time the MTR raises its fares and that this proposal will be able to meet the long-held wishes of Hong Kong residents on this issue.
DAB Spokesperson on Transport and Legislative Councillor Chan Han-Pan 9274-7035