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Youth commission meets

Chief Secretary John Lee today chaired the Youth Development Commission's ninth meeting where members welcomed the new youth development initiatives and the direction of reorganising the Government structure to foster and support youth development in the 2021 Policy Address.   The commission will actively follow up on the Chief Executive’s invitation to explore the introduction of a new funding scheme to subsidise eligible non-governmental organisations (NGOs) to organise projects that are conducive to nurturing young people's positive thinking.   It will roll out a new thematic funding scheme on outdoor adventure training activities for more NGOs to provide systematic and quality outdoor adventure training activities for young people.   Members were also briefed on the latest progress of the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area and the Greater Bay Area Youth Employment Scheme, as well as the details of relevant Polic

$20.8b deficit recorded

The Government announced today it recorded a $20.8 billion deficit for the two months ending May 31.   Expenditure for the period was $97.1 billion and revenue was $76.3 billion.   The Government said there was a deficit mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.   Fiscal reserves stood at $907 billion at the end of May.
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