Hong Kong's Financial Secretary John Tsang has forecast a budget deficit of HKD7.5bn for the next financial year.
Attending a consultation forum on the 2009-10 Budget in Tseung Kwan O on February 7, Mr Tsang said the Government will not trim expenditure.
"We believe next year's Government income will decrease but we will not cut our expenditure because of that", he explained, adding:
"When I did the budget for this financial year I was expecting a deficit of HKD7.5bn. As we will not spend less the deficit for the upcoming one will be higher."
Mr Tsang said Government spending will target the needy, concluding:
"Our resources are limited therefore it is not possible to give candies to everyone without differentiation."
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