🚀 Hong Kong Government to Announce New Budget Plan by Month-End
#HongKong #BudgetPlan #VirtualAssets #FuturesMarket #FinancialServices #LicensingApproval #RiskManagement #GoldTrading #RCEP #EconomicPartnership
According to Odaily, the Hong Kong government is set to unveil a new fiscal budget plan by the end of this month. Legislative Council member Lee Wai-hong, representing the financial services sector, has consolidated industry opinions and submitted them to Financial Secretary Paul Chan. Lee has proposed measures to boost the development of the virtual assets and futures markets, including expediting the licensing approval process. He suggests that the Futures Exchange should implement 23-hour trading, expand the range of futures products available during holidays, and introduce more derivative products for virtual asset options and futures. These steps aim to strengthen Hong Kong's position as an international risk management center. Additionally, Lee urges the government to accelerate the establishment of an international gold trading center and to join the Regional Comprehensive Economic Partnership (RCEP) as soon as possible. This would enable the industry to export gold and other precious metals from Hong Kong to RCEP member countries with zero tariffs.#HongKong #BudgetPlan #VirtualAssets #FuturesMarket #FinancialServices #LicensingApproval #RiskManagement #GoldTrading #RCEP #EconomicPartnership
🚀 U.S. House Approves Budget Plan to Extend 2017 Tax Cuts
#USHouse #BudgetPlan #TaxCuts #DonaldTrump #Republicans #DebtCeiling #SpendingCuts #Legislation #PoliticalNews
According to Odaily, the U.S. House of Representatives passed a budget plan on Wednesday, setting the stage for extending the tax cuts introduced by U.S. President Donald Trump in 2017. The budget was approved with a narrow margin of 216 votes in favor and 214 against, with all Democrats and two Republicans opposing due to concerns over insufficient spending cuts. This approval is a preliminary but necessary step for Republicans to bypass Democratic opposition and pass a tax cut bill along party lines later this year.
The legislation, passed on Thursday, serves as a broad budget framework with minimal details. Following the budget's approval, the upcoming package aims to reduce taxes by up to $5.3 trillion over the next decade and raise the debt ceiling by $5 trillion in exchange for $4 billion in spending cuts. House Speaker Johnson had initially aimed for the bill's passage on Wednesday but delayed action due to some Republican members' objections over inadequate spending reductions.#USHouse #BudgetPlan #TaxCuts #DonaldTrump #Republicans #DebtCeiling #SpendingCuts #Legislation #PoliticalNews
🚀 South Korea Plans Additional Budget to Mitigate Oil Price Impact
#SouthKorea #OilPrices #EconomicRelief #BudgetPlan #EnergyCosts #FinanceMinister #EconomicStability #VulnerableCommunities
South Korea's Finance Minister has announced plans to formulate an additional budget aimed at supporting groups affected by rising oil prices. According to Jin10, the government is taking steps to alleviate the economic strain caused by fluctuating energy costs. The initiative is part of broader efforts to stabilize the economy and provide relief to sectors most impacted by the volatility in oil markets. The Finance Minister emphasized the importance of targeted financial measures to ensure that vulnerable communities receive adequate support during this period of uncertainty.#SouthKorea #OilPrices #EconomicRelief #BudgetPlan #EnergyCosts #FinanceMinister #EconomicStability #VulnerableCommunities
🚀 South Korea Plans 25 Trillion Won Supplementary Budget, Ruling Party Spokesperson Says
#SouthKorea #SupplementaryBudget #EconomicStability #RulingParty #EconomicChallenges #GrowthInitiatives #EconomicResilience #Development #BudgetPlan
South Korea is set to draft a supplementary budget of approximately 25 trillion won, according to a spokesperson from the ruling party. This move aims to bolster the country's economic stability amid ongoing global uncertainties. According to Jin10, the budget is expected to address various economic challenges and support growth initiatives. The ruling party emphasizes the importance of this budget in maintaining economic resilience and fostering development. Further details on the allocation and specific areas of focus are anticipated in the coming weeks.#SouthKorea #SupplementaryBudget #EconomicStability #RulingParty #EconomicChallenges #GrowthInitiatives #EconomicResilience #Development #BudgetPlan