HA to consider Budget for 2026/27
The following is issued on behalf of the Hong Kong Housing Authority:
At a meeting today (January 7), the Finance Committee (FC) of the Hong Kong Housing Authority (HA) endorsed the 2025/26 Revised Budget and the 2026/27 Proposed Budget.
Under the latest budgets and financial forecasts, it is envisaged that the HA will have the necessary financial resources to meet its recurrent and capital expenditures up to 2029/30.
The FC Chairman, Dr Billy Mak, said after the meeting, "The HA's construction expenditure will continue to rise beyond 2026/27 due to the increase in the number of new public housing projects. To ensure its long-term financial sustainability, the HA has made every effort to reduce construction costs in response to rising expenditure as much as possible. A Project Facilitation Office has been established to co-ordinate various departments to facilitate the completion of public housing projects and to enhance cost-effectiveness in public housing construction. In addition, the HA will trim its annual recurrent expenditure by 2 per cent for both 2026/27 and 2027/28."
Dr Mak added, "The HA will continue to explore various revenue-enhanced/cost-saving measures, for example, advancing the public housing supply in the direction towards a 60:40 ratio between public rental housing/the Green Form Subsidised Home Ownership Scheme and other subsidised sale flats to increase its income from sale of Home Ownership Scheme flats to cope with the rising construction expenditure."
Dr Mak said, "These financial forecasts will inevitably be changed over the next few years due to various factors. They will be updated in the next round of the budgeting exercise. The HA will no doubt stay vigilant and monitor closely, and review its income and expenditure situations."
The HA will hold an open meeting on January 19 to examine the budgets and financial forecasts. The budgets will be submitted to the Chief Executive for approval thereafter.
The Hong Kong Housing Authority (HA), Photo source: reference image
Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $3.4 million
Hong Kong Customs detected two dangerous drugs cases in Hong Kong International Airport and Yau Ma Tei respectively on April 1 and yesterday (April 2), and seized a total of about 3.1 kilograms of suspected ketamine, about 1.7 kilograms of suspected cocaine and about 1.7 kilograms of suspected methamphetamine with a total estimated market value of about $3.4 million. Two persons suspected to be connected with the cases were arrested.
In the first case, a 43-year-old male passenger arrived in Hong Kong from Bangkok, Thailand on April 1. During customs clearance, Customs officers found about 3.1 kilograms of suspected ketamine concealed inside food packaging in his baggage. The man was subsequently arrested.
In the second case, during an anti-narcotics operation conducted in Yau Ma Tei on April 2, Customs officers intercepted a 41-year-old man and later escorted him to a hotel room nearby for a search and seized about 1.7 kilograms of suspected cocaine, about 1.7 kilograms of suspected methamphetamine, a drug inhaling apparatus and a batch of drug packaging paraphernalia. The man was subsequently arrested.
The arrested persons have been charged with one count of trafficking in a dangerous drug respectively and will appear at the Kwun Tong Magistrates' Courts tomorrow (April 4).
Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.
Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $3.4 million Source: HKSAR Government Press Releases
Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $3.4 million Source: HKSAR Government Press Releases
Hong Kong Customs detects two dangerous drugs cases and seizes suspected drugs worth about $3.4 million Source: HKSAR Government Press Releases
