Waiver on public housing rents to be slashed to 1 month

No thanks to cut in relief measures.

According to Barclays, under the 2014-15 Budget, there were no changes to the various property demand-side measures and the reduction in one-off relief measures had been well flagged to the market.

The total amount of relief measures scaled down to HK$20bn, with fiscal stimulus effect on GDP of 0.7%.

Here's more from Barclays:

These include reduction in salary tax and tax under personal assessment to be maintained, with a ceiling of HK$10,000.

Property rates waiver down from four quarterly HK$1,500 waivers to just the first two quarters of 2014-15, subject to a ceiling of HK$1,500/quarter.

Waiver on public housing rents to be reduced from two months to one month.

Extra allowance to recipients of CSSA, Old Age Allowance, Old Age Living Allowance and Disability Allowance, equal to one month of the allowances, to be maintained.

Increase in allowance for Dependent Parent and Dependent Grandparents to HK$40,000 (from HK$38,000) (age 60 and above) and HK$20,000, from HK$19,000 (age 55-59).

Electricity subsidy of HK$1,800 per residential account phased out as it was no longer mentioned.