Hong Kong Unveils 2025 Budget, Cuts Spending, Promotes AI Growth

Thurrock Council has approved a budget for 2025/26 that focuses on improvements in waste management, healthcare, and local transportation, alongside a Council Tax increase that remains within government limits. Cllr Sara Muldowney emphasized the budget's role in addressing past financial missteps while ensuring responsible spending for community needs. The budget includes funding for projects like the Stanford-le-Hope railway station and aims to enhance local health services. In contrast, Hong Kong's Financial Secretary Paul Chan has outlined a challenging budget that involves cuts to public spending, a freeze on civil service salaries, and initiatives to foster economic growth through technology, including plans for an AI Research and Development Institute. Chan also announced a temporary pause in commercial land sales and proposed adjustments to public transport subsidies to increase financial sustainability. Both councils are navigating financial challenges while attempting to improve services for their residents.