Hong Kong finance chief Paul Chan will deliver his budget next week and is expected to cut spending while finding new sources of revenue. Read on for highlights of our budget coverage so far and other stories that shaped the week.

In today’s edition:

• Budget challenge 

   

• Taxi strike U-turn

   

• Democratic Party to disband?

Budget challenge

All eyes will fall on finance chief Chan next Wednesday when he maps out ways to tackle the nearly HK$100 billion deficit. Some spending reductions are expected, but as the Post asks, can he make the needed cuts without upsetting residents while re-energising the economy? The City Desk has asked the experts how the minister can pull off his “mission impossible” in a series of deep dives.

Taxi strike U-turn

Cabbies have dropped their plan to go on strike next month after they were warned by the city leader that any drastic action would undermine public interests and authorities promised to crack down on illegal ride-hailing services. The same day the strike was called off, eight drivers offering such services were intercepted by undercover police.

Democratic Party to disband?

Another story leading that news was the possible disbandment of the 30-year-old Democratic Party, once the largest opposition group in the city’s political landscape. The party will ask its 400 members to decide the group's fate at a general meeting. While the party leader declined to say whether the move was a result of political pressure, former chairwoman Emily Lau said the decision was abrupt and raised questions about whether the city could still tolerate different voices.

Catch up on these stories and more at SCMP.com, and enjoy the weekend!

Politics

• Leadership of Hong Kong’s Democratic Party backs motion to dissolve

   

• Hong Kong Journalists Association cancels annual dinner after 2 hotels axe booking

   

• Hong Kong’s mega-events to attract 840,000 visitors in first 6 months: John Lee

   

• Hong Kong security chief condemns BBC interview with city’s youngest fugitive

   

• Hong Kong trade unions face tougher scrutiny under proposed law change

Society

• 8,500 tickets for Hong Kong’s Kai Tak Sports Park opening show gone in 30 minutes

   

• North Korea, Iraq holiday? Hongkongers seek unique getaways, insiders say

   

• Council overseeing estate of Hong Kong’s Nina Wang to be set up by quarter end

   

• Creamfields dance festival in Hong Kong, slated for March, abruptly cancelled

   

• Wait for Hong Kong public rental flats drops to 5.3 years, lowest since 2018