Government willing to spend fiscal reserves on education

Even if it means going beyond the $5b additional funding, said CE Lam.

The government will spare no cost in improving the quality of education in Hong Kong with Chief Executive Carrie Lam admitting that the administration’s more than ample fiscal reserves may be directed for educational investment. 

“Money, of course, is only a means to realising our vision for education. With our healthy fiscal reserves, my Government is prepared to invest for our future, and there is no investment more meaningful than education,” Lam said at the opening of a forum in Li Po Chun United World College of Hong Kong. 

Lam also expressed willingness to go beyond the $5b in additional funding earmarked for the educational sector, reaffirming the government’s commitment to providing quality education and establishing the corresponding facilities to equip its future workforce with the right skillset.

Accounting and professional services firm Deloitte estimate fiscal reserves to hit $953.7b. 

EY, on the other hand, offers a less modest fiscal forecast after estimating that Hong Kong’s fiscal reserves may grow exponentially faster amidst strict budgets and strong revenue stream to balloon to over $1.11t in March or almost half (43.1%) of the GDP.