Hong Kong’s Financial Secretary Paul Chan unveiled the 2020-21 budget on February 26, 2020. He announced a HK$120 billion (US$15 billion) relief package to ease the burden on individuals and businesses amid the impact of the ongoing coronavirus epidemic and 2019’s Hong Kong protests with a cash handout of HK$10,000 for permanent residents aged 18 or above. However, the city will see a record deficit of HK$139 billion in the coming fiscal year.