MORE FUNDS FOR NURTURING TALENT

23-2-2022

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(To watch the 2022-23 Budget speech with sign language interpretation, click here.)

Financial Secretary Paul Chan proposed in his Budget today to set aside more funds to enhance training for medical professionals and enrich the local talent pool.

Mr Chan said he intended to gradually increase recurrent allocation - up to $400 million a year as needed - for enhancing training for medical professionals starting from the 2023-24 school year onward.

Meanwhile, 500 more designated places will be provided under the Study Subsidy Scheme for Designated Professions/Sectors to provide subsidies for students to take self‑financing undergraduate programmes on healthcare.

The finance chief will set aside another $10 billion for the University of Hong Kong, Chinese University of Hong Kong and Polytechnic University to upgrade and increase their healthcare teaching facilities to provide the capacity to cope with about 900 additional healthcare training places.

For the financial sectors, the Government plans to launch a three‑year Pilot Green & Sustainable Finance Capacity Building Support Scheme and the Pilot Scheme on Training Subsidy for FinTech Practitioners for the training of professionals. 

The Government has commissioned Cyberport to implement a new round of the Financial Practitioners FinTech Training Programme this year to provide training programmes and tuition fee subsidies for practitioners in the insurance and securities sectors. Subsidies will also be provided for the two sectors to organise their own training programmes.

Mr Chan also announced that $100 million will be injected into the Cantonese Opera Development Fund to support the training of practitioners. The measure is expected to benefit 800 Cantonese opera practitioners.

He will allocate $37 million over the next six years to provide professional training for conservators of the Leisure & Cultural Services Department and the Hong Kong Palace Museum.

To train more new blood and upskill in-service workers, Mr Chan proposed to allocate $1 billion to the Construction Industry Council for supporting manpower training.

In addition, the Budget has earmarked $30 million for extending the training of the Centre of Excellence for Major Project Leaders to stakeholders outside the Government with a view to enhancing the overall performance of works projects.

Meanwhile, to maintain promotion of continuing education, the Government will raise the subsidy ceiling of the Continuing Education Fund from $20,000 to $25,000 and remove the upper age limit.




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