Policy sustainability must be taken into account: CE

Chief Executive John Lee emphasized on Thursday that the government must consider financial sustainability and efficient resource allocation when developing policies. In his Policy Address, Lee proposed 11 measures to increase fertility rates, including raising the maximum mortgage loan-to-value ratio for White Form family applicants with newborns from 90% to 95%.

During a Legco question-and-answer session, lawmaker Scott Leung questioned whether the initiative could be extended to all White Form applicants, stating that young people often hesitate to marry and have children due to a lack of stable housing. Lee responded, "The sustainability of a policy must be taken into account when allocating public resources, which is why some measures are intended to be one-off or short-term in nature."

Lee also addressed the Education sector lawmaker Tang Fei's inquiry about attracting top tech talent to the Northern Metropolis. He mentioned that the Labour and Welfare Bureau would soon release its latest Manpower Projection, indicating that Hong Kong faces a shortage of AI specialists. Lee assured that the government would make every effort to recruit professionals in this field.

He highlighted several advantages, including the high success of Hong Kong's tertiary education, the city's internationalization, and the Five-Year Plan outlining future opportunities. Lee stressed that all policies should focus on talent, technology, and industry development, as skilled professionals are attracted to research, academic, and industry ecosystems. Additionally, the government's push to build university towns aims to attract global talent.

Regarding the city's first Five-Year Plan, DAB lawmaker Gary Chan asked Lee if the public could expect significant improvements in the economy and overall well-being after five years. Lee stated that it is the Chief Executive's responsibility to ensure the plan's successful implementation. He explained that implementing a Five-Year Plan requires spanning across five Policy Addresses.

Lee emphasized that the Chief Executive, as the "head of the household," must report to national leaders annually, explaining the progress of implementation during these briefings. He added that the next Five-Year Plan will set more ambitious objectives.