Wednesday, February 27, 2008

Pigs fly! Beer taxes revoked!

Hong Kong announced a record fiscal surplus in its annual budget on Wednesday, enabling Financial Secretary John Tsang to offer tax concessions and handouts <...> The Financial Secretary also abolished duty on wine and beer, aiming to make Hong Kong a wine hub.

But the pigs may be grounded again the following year ... and import beer duties reinstated:
... [Financial Secretary John Tsang] forecast a HK$7.5 billion fiscal deficit for 2008/09 as slower economic growth will curb tax income and land sales revenue

Hong Kong Posts Record Surplus, Unveils Budget
27 February 2008

I was alerted to this story on the Brewers Forum, a service of the Brewers Association.

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