 "Hong Kong dollar")
Hong Kong will offer tax breaks, handouts and subsidies to small businesses and residents, to mitigate the impact of a new wave of social restrictions to curb COVID-19 infections, Finance Secretary Paul Chan said in his 2022/23 budget speech. The measures were announced as hundreds of bars, restaurants and small retailers warned they were months away from closure, following the imposition of the strictest restrictions since the pandemic began in 2020.
"Our economy and people's livelihoods have been under immense pressure in recent months", Chan told legislators via videoconference on Wednesday. "Economic performance in the first quarter is not optimistic."
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