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Wah Fu Estate redevelopment set

The Housing Authority today announced the latest progress on the phased clearance and redevelopment of Wah Fu Estate and the relevant rehousing arrangements.   The authority said the views it collected generally supported the proposal on the estate redevelopment and clearance in three phases.   The proposed developments in the five Pok Fu Lam South sites, namely, Wah King Street, Wah Lok Path, Wah Fu North, Kai Lung Wan South and Kai Lung Wan North, and the existing Wah Fu Estate will serve as major reception resources for the redevelopment of the estate.   In accordance with the latest progress, the anticipated intake date of the phase one Wah King Street site will be advanced from 2027 to 2026 for rehousing tenants of Wah On House and Wah Lok House.   The anticipated intake date of Wah Lok Path site in 2027 to 2028 will remain unchanged while the anticipated intake date of Wah Fu North site will be revised from the second half of 2028 to the first half of 2030 due to

$76b deficit recorded

The Government announced today it recorded a $76 billion deficit for the five months ending August 31.   Expenditure for the period was $252.7 billion and revenue was $176.7 billion.   The Government said there was a deficit mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.   Fiscal reserves stood at $851.8 billion as at the end of August.  
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