Hong Kong's Legislative Council is meeting to advance two gazetted amendment bills on tax concessions and stamp duty, seek authority to expend up to HKD 181.7 billion for the 2026-27 financial year, and debate members' motions on homelessness policy and national development strategy, alongside 22 questions on government policy.
The Hong Kong Inland Revenue Department has introduced the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026 for their first and second readings in the Legislative Council today, 18 March 2026.
The Stamp Duty (Amendment) Bill 2026 will also be introduced into the Council for the First Reading and the Second Reading. The Second Reading debate on the Bill will be adjourned.
Financial authorisation under the public finance ordinance (Appendix 1)Â
On Government motion, the Secretary for Financial Services and the Treasury will move a proposed resolution under the Public Finance Ordinance. The proposed resolution is set out in Appendix 1.
A significant portion of the meeting involves a resolution to be moved by the Secretary for Financial Services and the Treasury. This resolution seeks authority for the Government to expend a sum not exceeding HKD 181,709,402,000 for the financial year beginning 1 April 2026.
The spending is strictly regulated based on the 2026-27 Estimates of Expenditure:
- General limit: Most recurrent subheads are capped at 25% of their estimated provision.
- Priority services: Certain vital services are granted higher percentages to ensure continuity, including:
- 100% provision: Traffic Accident Victims Assistance Scheme, Assistance for patients and their families, and Emergency relief.
- Higher caps: Interest on tax reserve certificates (65%), Employees’ compensation and death-related expenses (40%), and the Social security allowance scheme (30%).
Strategic policy motions (Appendix 2, Appendix 3)
On Members’ motions, Reverend Canon Peter Douglas Koon will move a motion on “Formulating a comprehensive ‘homeless-friendly policy’ to build a caring and inclusive society”. The motion is set out in Appendix 2. Ms Ginny Man will move an amendment to Reverend Canon Peter Douglas Koon’s motion.
Homeless-friendly policy: Reverend Canon Peter Douglas Koon will move a motion urging a “people-centred” approach to homelessness. The motion calls for a cross-departmental strategy that integrates housing, healthcare, and employment resources to help the homeless regain dignity and independence while eliminating community discrimination.
Dr Johnny Ng will move a motion on “Better aligning with the national development strategy for promoting high-standard opening up”. The motion is set out in Appendix 3.
National development and “high-standard opening up”: Dr. Johnny Ng will move a motion to align Hong Kong with the National 15th Five-Year Plan. This involves leveraging Hong Kong’s “one country, two systems” status to act as a “super connector” and “super value-adder” between the Mainland and the world, and focusing on building the city into “Four Centres and One Highland”.
Mr Lee Chun-keung, Mr Kenneth Fok, Mr Tommy Chung, Mr Lau Ka-keung, Mr Nick Chan, Mr Robert Lee, Mr Erik Yim and Professor Priscilla Leung will move separate amendments to Dr Johnny Ng’s motion.
In addition, Mr Chan Chun-ying will move a motion under Rule 49E(2) of the Rules of Procedure to take note of a report of the House Committee on consideration of subsidiary legislation and other instruments. The motion is set out in Appendix 4.
Subsidiary legislation (MPF): Mr. Chan Chun-ying will move a motion regarding a House Committee report on several pieces of subsidiary legislation, primarily focusing on the commencement and appointment of dates for the Mandatory Provident Fund (MPF) Schemes (Amendment) Ordinance.
In addition to these proceedings, the meeting includes a question period where Members will ask the Government 22 questions on various policy areas, six of which are designated for oral replies. The public can monitor these proceedings via the LegCo “Webcast” system or by reserving seats to observe in person.
Earlier, The Hong Kong Government has gazetted two key legislative amendments on 6 March: the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026, introducing concessionary tax measures announced in the 2025 Policy Address and the 2026-27 Budget, and the Stamp Duty (Amendment) Bill 2026, which increases the stamp duty rate for residential property transactions exceeding HKD 100 million in consideration from 4.25% to 6.5%, also as announced in the 2026-27 Budget.
