Tsang is expected to allocate HK$500 million for a scholarship seed fund to support outstanding local students at renowned overseas universities.
The budget, to be presented in the Legislative Council this morning, will see the government inject HK$5 billion into the Language Fund to set up a seed fund that will support more students and workers in improving their English and Putonghua skills.
It is hoped that the improved language skills of students and workers will help the SAR maintain its competitive edge.
Also, HK$480 million will go towards setting up a scholarship seed fund to support outstanding students who wish to study overseas.
But recipients will be required to teach in Hong Kong for two years after they graduate.
Another HK$20 million will be used to support the special needs of students of tertiary institutions.
Meanwhile, academics want a definite strategy to put the HK$700 billion fiscal reserve to productive use. They urged that part of the hefty surplus go towards boosting recurrent government spending on health care and social welfare services and called for the mapping out of long-term social policies. Writes Eddie Luk for The Standard.