The Business and Professionals Alliance (BPA) on Thursday again urged the government to scrap its remaining "spicy" measures for cooling the property market, and to further reduce stamp duty on stocks.

The party reiterated its call during a Lunar New Year bus parade, less than two weeks before the financial secretary's next budget address.

The BPA's Jeffrey Lam said the administration must take action to reverse downturns in the property and stock markets.

“We hope that the [removal of spicy measures] will happen soon. It’s a bit late, but we hope it will bring prosperity and liveliness to the property markets. In releasing the huge money tied down to the property markets, I’m sure it will help make Hong Kong’s economy better,” said Lam.

“With what’s going on around the world, we cannot expect everything to go smoothly, but with the strength of Hong Kong, and our government’s willingness to make Hong Kong prosper, I think Hong Kong will have a good year.”

Meanwhile, BPA chairman Lo Wai-kwok said he hopes there will be a rise in the number of people having babies, given it's the Year of the Dragon.

The party's honorary chairman, Legco president Andrew Leung, said he hopes the Year of the Dragon will bring good luck and an improvement in the city’s economy.