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Thursday, October 6, 2016, 19:50

Liberal Party calls for more pro-business policies

Liberal Party calls for more pro-business policies
File photo of Chairman of Liberal Party Felix Chung Kwok-pan . (Roy Liu / China Daily)

HONG KONG – The Liberal Party on Thursday advised the government, in dealing with the current economic downturn, not to adopt policies which could increase the operational costs of small and medium-sized enterprises.

This includes the three most disputed labor right policies – standard working hours, the universal retirement protection scheme and the cancelation of the offsetting mechanism of the Mandatory Provident Fund (MPF) scheme.

The party, which is formed by business sector elites and advocates a free market economy, made the suggestions in its 128-page proposal to the Chief Executive Leung Chun-ying for his last Policy Address and government’s 2017-18 Budget in the five-year term.

Four members of the party submitted the proposal in an early meeting with Leung.

Liberal Party leader Felix Chung Kwok-pan said the government should implement more policies to revive the economy, maintain Hong Kong’s pro-business environment and boost its international competitiveness.

The proposals, which comprised 89 suggestions, also included recommendations such as importing more skilled people from overseas, increasing land supplies, relief measures for the middle class and so on.

With the government’s last Policy Address and Budget drawing close, political parties are meeting with government officials.

Earlier, eight members from the city’s largest labor party – the Hong Kong Federation of Trade Unions – appealed the government to cancel the offsetting mechanism of the MPF. The offsetting mechanism allows employers to use employers’ MPF money as their severance package.

The New People’s Party – led by former security chief Regina Ip Lau Suk-yee – also met with the government. It urged it to put more efforts into its youth policies and into dealing with housing shortages.

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