Former financial secretary urges Hong Kong to seek alternative revenue sources

Former financial secretary John Tsang Chun-wah has urged the government of Hong Kong to seek alternative revenue sources to cover government spending, cautioning that the city has entered an era of structural fiscal deficits. Tsang criticized the revenue-boosting measures from the recent budget, highlighting that they were expected to generate only about HK$2 billion, falling far short of the required tens of billions to achieve fiscal balance.