The Finance Committee of the Legislative Council of the Hong Kong Special Administrative Region today approved an additional allocation of HK$1.6 billion to extend and enhance the newborn incentive scheme. Earlier, the Chief Executive of the Hong Kong Special Administrative Region, Lee Ka-chiu, announced in a new Policy Address that in order to further promote a child-friendly environment, the HKSAR Government will introduce 11 additional “combo punch” measures, including extending the HK$20,000 newborn bonus scheme which expires on October 24 this year for 3 years; to encourage families to have more than one child, the incentives for newborn babies will be raised from HK$20,000 to HK$30,000 for a period of three years; for example, the taxpayer's second and subsequent children born on or after the announcement of the measures Will be HK$140,000 was raised to HK$160,000. Under the current mechanism, they can claim until the age of 25. The arrangement will take effect from the 2026/2027 year of assessment.

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